The Forum > General Discussion > When the CSG boom is over
When the CSG boom is over
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Going back just a few years, Miles, a small country town in the Western Downs was a laid back, quite little town of some 800 people.
Appartt from the grey nomads and the B-doubles carrying cattle, not much happened here.
A home style meal in the pub cost just over ten bucks, rents were around $120 per week and the local butcher knew everyone by their first names.
Now, that same meal, albeit a bit more professional, costs about $35, rents are fast approaching $1500 per week and the locals are becoming strangers in their own town.
The cost of block of land has gone from $7500. to $200,000 plus.
In fact, many locals in town, and in similar effected towns are now uprooting as they simply can no longer afford the rents.
So one has to wonder, given that the CSG industry boom being experienced now, is in lue of the infrastructure projects, predicted to continue for about the next six years or so, what will come of these towns once they have gone.
Investors are climbing over themselves to buy new houses up to and beyond half a million, lured by the rental returns, but you have to wonder what they will be worth once the industries infastruture phase is complete, especially if rents return to close to normality.
So, can these towns survive this CSG boom, or, will they become gost towns when the CSG boom is over.