Fears aired over Moranbah house prices
Posted
There are predictions the average price of homes in Moranbah will rise to as much as $700,000.
A record $675,000 was recently paid for a four bedroom home, and local housing groups say prices will continue to rise, with a fertiliser plant and two new mines planned near the town.
Kel McKenzie from the Emergency and Long-Term Accommodation Service in Moranbah says there is very few properties currently on the market and demand is pushing up prices.
"I had heard there's one on the market at the moment that is closer to the $800,000, and if you look at what's happening in the Pilbara, it's a similar type of situation to here. Properties are selling for $1 million or more, properties that previously would have fetched maybe $200,000," he said.
