New power coming to the Surat Basin
We've taken a look at growth that could potentially fuel property investment around the Surat Basin before, and new developments have since been announced. This is a good series of projects to keep an eye on if you're interested in capital gains for the long term. Ongoing gas and mineral development have the potential to boost employment, population and the economy of a particular area, lending itself to further growth in real estate.
Our state's gas industry is already worth $60 billion, and new money has come in from a series of power hubs in resource centres. So how could it help your investment strategy?
Millions for local economies
The state government recently announced the arrival of a crucial substation in north west Surat Basin, which provides power to six different gas processing facilities. While it is no longer at its peak, the resource economy is still a strong part of the Queensland economy.
The construction work to create this hub has injected $14 million through the Surat Basin's economy in the first five months of 2015, showcasing just how much these developments can add to the Sunshine State's regional areas.
Bolstering the regional electricity network allows further development in the gas industry, which can create growth hot spots to watch closely.
Resources industry ploughs ahead
The Queensland Resources Council recently surveyed industry members, and found that many were making significant progress in terms of growth. It was noted that many CEOs have been investigating existing business expansion, as well as greenfield projects that are worth at least $500 million each.
But what does it mean for your property investment? Well, it means there's likely to be a few more hot spots to observe in the coming months. As companies reduce the cost of production and make expansion plans, projects cover new ground and provide economic boosts to many areas of the state, like the Surat Basin.
Getting ahead of the curve and investigating these sorts of areas has the potential to yield dividends through property investment. Of course, it's not a get rich quick scheme, it requires careful thought and planning. By working with a wealth coach and methodically choosing how to invest, where to invest and when to invest, it could be possible to see excellent capital gains.
When you want to explore this option, make sure to get in touch with the friendly team here at Think Money.