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13th November 2006

Ever watched from the sidelines as a town or region has undergone its own real estate mini-boom, wishing you'd known about it earlier? If the answer's yes, you're one of millions frustrated about discovering the next boom area after it's already happened.

Uncovering the next boom area may be as simple as paying closer attention to the information that surrounds you, as every day the media is full of snippets of information that flag potential boom areas - information like new mining ventures being launched and new transport infrastructure being planned.

Research by API identifies five areas that have or will be turned into hotspots by major events. They are:

Bunbury, Western Australia
Bunbury has become a property hotspot of national ranking as the economic catalysts just keep lining up. One development alone is worth $1 billion and the WA Government has nominated Greater Bunbury as the number one growth area in regional WA over the next five years.

KPMG demographer Bernard Salt tells API, "Baby boomers are streaming out of the city to places on the ocean like Bunbury. It's pretty, it has all the infrastructure and it's within striking distance of the capital city."

Projects under way or planned include the $1 billion Worsley Alumina Refinery expansion, several nearby mines, a $400 million power station, a $430 million gas pipeline, a $300 million port expansion. In addition, the Mandurah Bypass project will shave 30 minutes off the Perth to Bunbury drive.

Mt Barker, South Australia
Mt Barker in the Adelaide Hills faces a rental accommodation shortage: it's one of Australia's population growth spots and already has almost zero vacancies in housing. To boot, a major copper mining operation is set to open on its doorstep.

Real Estate Institute of South Australia president Mark Sanderson says, "There's nothing available for rent in the Adelaide Hills at all. The new mine will attract a new workforce and place further pressure on scarce rental accommodation."

Gladstone, Queensland
It may not have a glossy image but Gladstone is the under-rated economic powerhouse of Queensland and shapes as a shiny prospect for long-term investment. It has about $10 billion in major projects earmarked for the next few years.

Gladstone has Australia's largest aluminium smelter, the nation's largest cement kiln, one of the world's largest producers of sodium cyanide, Queensland's largest limestone mine operation, the state's largest multi-cargo port, Queensland's largest power station and soon the world's largest coal exporting terminal.

Salt says, "Just as Sydney needs a Wollongong and Melbourne needs a Geelong, so Brisbane needs a Gladstone. It needs an industrial muscle town. You can't have the entire state being five-star resorts. Someone has to do the gritty stuff and Gladstone is it."

Mortlake, Victoria

Also likely to change is the price of houses in a town where many sell for less than $130,000.

David Steel of First National Real Estate in the area says, "Prices in Mortlake pretty well doubled when they first announced the power station and then they levelled out. They'll go up again once the thing starts construction. There will be a chronic shortage of rental accommodation."

Zeehan, Tasmania
Zeehan has seen better days. Once there were thriving mines in the area but lately it's been struggling and houses can be bought for $80,000 or less. But Zeehan and its neighbour Rosebery are expecting good times again.

Two major mines are expected to start construction soon, bringing hundreds of new workers into the area.

Pam Gilbee of Emy Bay Realty tells API, "We haven't seen the real impact, not just yet, but once the mines get up and running we'll see it then. There's not a lot of rentals in the area. We're all waiting for the mine to open and then we'll see a little mini-boom."

© Australian Property Investor magazine - www.apimagazine.com.au. Reproduced with permission. To subscribe to API, go to www.apimagazine.com.au or pick up a copy from your local newsagent.

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