Moranbah, Central Queensland
When will Moranbah recover?
The resources sector has rebounded in the last 18 months, providing hope for those who have invested in mining towns. While this is encouraging, its sustainability has yet to be proven - many mines remain in “care and maintenance” mode as owners cautiously monitor business conditions and mines change ownership.
One of the positive elements in Central Queensland is the rise in the number of coal mining jobs. Another is the fall in vacancies in Moranbah’s property market which are at their lowest level since 2011.
Following the savaging of property markets in mining towns caused by miners being accommodated in custom-built camps, the Queensland Government has taken remedial action. As of 30 March 2018, new laws banning 100% FIFO workforces on big resources projects with more than 100 workers are in place.
With 25 large resource projects near Moranbah, the mining town can expect to benefit from these.
For now, the signs of recovery in Moranbah are small and only time will tell if the performance indicators can deliver convincing results. But, whatever happens, it will be a long time before Moranbah property values return to the peak levels at the height of the resources boom.