My experience is of my 9 years living a working in the Goldfields. 1999-2002 provided evidence of a total capitulation of property values. I am talking up to 40%. Gold was at a 25 year low and Nickel was worth $US 2.30 a lb at the low point. I worked with countless people who just wanted to get out of the town but sale price was a country mile away from remaining debt. I also worked with many punters who had geared up into fibro shacks at top prices and been literally left holding the baby as tenants offered nominal rents half previous levels. A great number of the jobs in Kal are contract rather than salaried full time positions with the mining companies and the fortunes of the town can change very quickly. Dont worry about the super pit mate cause Kambalda will finish about the same time. Operating geographically remotely from Kalgoorlie and gaining information from property magazines about speculative demographic changes is a recipe for disaster. Here's my secret in case you’re struggling trying to understand my point. Get to the Northwest. The Game is totally different up here. Not all commodities are the same. You have the choice to expose your property portfolio to Gold and Nickel with a high delta in the Goldfields or Iron ore, Oil & gas at the other end of the spectrum in the Pilbara. Kalgoorlie= a poor mans Karratha.
By the way Flipper your name isn't Adam is it? and you’re not a Chemical Engineer by profession are you?
