It seems the Gladstone council and QLD State government have come to terms with the social and economic impact of the LNG boom and have accepted the fact that GLNG will house 48% of its total workforce in Gladstone itself, not on Curtis Island as originally planned. I would assume that other companies will follow suit here.
This advancement significantly reduces the risk that was apparent in the local property market with the initial EIS proposal for accommodation.
I thought I would update my findings for you all. I am in negotiations with a few builders here so I will let you know of my outcome to see what investment opportunities come up. Rents are going strong here. For a 4 x 2 x 2 house fully furnished you will achieve $1000 per week easily, with increases every 6 months! That's a good 10% return pretty much with some strong capital growth in the coming years. None the less, I still believe it is a market that should be watched closely should you decide to invest there.
Josh
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