How Was The Wild, Wild West Property Trip?
Thanks to everyone who came and was part of the Wild, Wild West Property Trip.
In the end it really did confirm what is happening out there in the Surat Basin.
Having said that nothing beats getting on the ground and talking to the local business people, residents and workers.
There is so much demand out there for accommodation the companies are DESPERATE to house their staff and crew.
It’s simple SUPPLY and DEMAND, lots of demand, not a lot of supply means OPPORTUNITY.
We visited the likes of Toowoomba, Dalby, Chinchilla, Miles and Wandoan (yes out at whoop, whoop) and the further we went the more opportunities and potential we saw.
The big thing for all of us we realised was the amount of knowledge that our bus driver, real estate agent and tour guide, Alan Wilson had.
Going out there by one’s self without his expert knowledge would have been a waste of time – in a matter of 2 hours we saw the crux of what was out there, where the deals lay and how 10% positive cashflow returns is quite easily achievable.
All throughout the weekend there was fantastic networking and major adventure – the bus broke down between Miles and Wandoan (5 plus hours from Brisbane) with no one from RACQ working that weekend!
4 hours of hanging about later the mechanic figured it out (Henry and Stephen gave it a good go!) and we all ventured back to Bris-Vegas.
Thanks everyone for your fantastic energy and generosity, and especially Alan, couldn’t have done it without you, you’re a champion!
We are considering another Property Trip like this later in the year – if you missed out this time make sure you make it to the next one!
Here’s a quick summary of what’s happening in the Surat Basin:
Currently the estimated value of the projects in the region are valued at up to $200 billion, with lifespans of between 30 and 250 years.
- The projects are JUST BEGINNING and 80% of these projects are within one hour’s drive of the towns of Chinchilla and Miles.
- The region is not reliant on one particular industry (unlike other areas), meaning SECURITY for investors.
- The 11 major industries driving the boom are gas, coal, power, solar, coal seam gas, water, liquefied natural gas (LNG), underground coal gasification (UCG), agriculture, manufacturing and rail
- It is expected that 42,000 new workers will be required to service the region
- The Surat Basin is vast it extends across an area measuring 270,000 square kilometers in south western Queensland.
- It is fast becoming known as the energy capital of Australia due to a diverse range of energy related projects which have recently commenced in the region.
- The annual growth in median house prices in Chinchilla has averaged a staggering 16% per annum over the past ten years.
- In Miles, the annual growth has averaged an incredible 23% per annum over the past ten years.
- New homes or house and land packages are available in Chinchilla and Miles from $385,000.
- While the entire region is booming, geographically Chinchilla, Miles and Roma sit smack in the middle of where all the action is happening,
- Chinchilla is 4 hours west of Brisbane and 2 hours from Toowoomba, Miles is about half hour further west from Chinchilla.