No they are not closing down, but the mining CONSTRUCTION boom is over.
That's what requires the big number of people and that is what drives the property market upwards.
Now that the pressure is coming off the iron ore CONSTRUCTION sector for instance, Newman and Port Hedland house prices in particular will come under big pressure.
Geraldton is crapola - Oakajee a cruel joke that has been perpetrated on Geraldton time and time again. Also this dump is surrounded by unlimited amounts of freehold farmland so there is no land shortage and no restriction on development.
Broome will crash when Browse goes FPSO instead of James Price Point.
Onslow will be a tight market for a few years but again, big caution needed - the time to buy is already past.
Karratha is a conundrum - IO is slowing but O&G is going strong, but heaps more land is being developed so the days of big price gains are gone gone gone.
All imo.
Perth is a backwater and the FIFO game is already crumbling.
