Put Cloncurry on your property investment wish list
Several mining towns have made a name for themselves in the wake of the resources boom, but one of the most popular among property investors has been Cloncurry.
Located in north-west Queensland, around 120km east of Mount Isa, Cloncurry has been in existence for more than 250 years, but only recently has it earned the attention of investors and property hunters.
The town has seen its population fluctuate over the past couple of decades, but has recently provided a hub for those in search of mining jobs in the surrounding areas.
In the past, it has been dubbed a gateway to the Outback, making it a stop-off point for those exploring more remote parts of Australia.
However, the town has well and truly made a name for itself during more recent times, with investors in search of their next purchase.
What Cloncurry has to offer
One aspect of Cloncurry that has proved a particular hit with anyone in search of a Queensland rental property is its sense of community.
Arts and culture plays an important role for the people of Cloncurry, not only because it gives tourists a reason to stop off for a visit, but also provides a focal point for locals.
One of the highlights is the Mary Kathleen Memorial Park and Museum, which is proud to showcase the history of the area.
The location not only serves as a reminder of the Mary Kathleen Uranium Mine and Township, but is also where various events are held throughout the year.
From the Cloncurry Markets to the Rockhana Gem and Mineral Festival, there is always something for residents to get involved in and feel part of the wider community.
Cloncurry is also proud of its outdoor spaces, with the likes of Chinaman Creek Dam and Recreational Area providing ideal places for experiencing the more natural parts of the town.
Families are drawn to Cloncurry for this reason, which makes it the logical choice for a property investment if you are hoping to target this particular market.
Further incentives for investors
Cloncurry property investors over recent years have found that the value of the real estate they have purchased has increased in value.
The latest data from realestate.com.au shows that in between September last year and July 2013, property prices have climbed 57 per cent.
A variety of property types are available to purchase, so whether investors are targeting the family market or those relocating to the area for work, there will be something to match their specification.
One thing that is for sure is that competition is growing, so would-be investors need to act quickly to make the most of the available opportunities.