Business boost making Mackay a hot ticket
Even while the peak has passed, the resources industry clearly still has a lot of benefits and growth that it can bring to Queensland. More jobs and more investment in regional areas like Mackay often means more homes popping up, and these can be great opportunities for capital gains.
And according to a February 13 press release from Mackay Regional Council, there's been some significant investment in the area recently, meaning Queensland property investors should have their eye on the region in the coming months.
Business boom from resource investment
Mackay Regional Council was one of 12 to sign up to the Joint Statement of Commitment: Maximising Industry Local Content in Regional Queensland. This is a combined effort to help businesses be part of the resources growth in the area.
This could mean linking up with the nearby Caval Ridge Mine project, which is situated 170km southwest of Mackay. The Department of State Development says the open cut coal mine produces 5.5 million tonnes of material every year, so is an important part of the ongoing growth of the region.
The statement also noted that according to the Queensland Resources Council, there was more than $2.9 billion put into local industry from the coal sector last financial year, which is phenomenal investment. This allows for great business growth, a key factor when monitoring property hot spots.
Collaboration during a time of investment
The Australian Prudential Regulatory Authority (APRA) recently unveiled its figures on how much money was going out to investors, and it is further evidence of the continued investment growth we've been seeing everywhere recently.
The total amount of money tied up in residential property loans, according to APRA, increased by more than $100 billion nationwide last quarter. That's further evidence of growth, and something that might inspire Queensland property investors to look into expanding their portfolio a little further.
Get the right advice
As always, property investment is a slow and steady path that can stand the test of time. It requires careful planning however, and the right advice. Property mentoring can be an excellent part of moving forward with a property investment strategy, and working with the team at Think Money can be a fantastic step on the path to gaining one or more investment properties in a short space of time. We can identify growth areas and help you get a foothold in them with ease.