dumper2 were you in the Rocky area in the mid 80's to the early 90's ?
Exactly the same thing happened then as now. Back then 3 bed 1 bath houses went from the $45k-$65k range depending on how old and construction material to around $125k -$160k in about a 2 year period then sat there for years and slowly slipped back a little. Didn't seem to matter much if you were in Frenchville, Wandal, lower end of the Range, Allenstown, Park Avenue.
Now it just happens to be 4 bed 2 bath etc so the stakes are a bit higher.
Almost seems like every one who qualifys for a house loan must have one and then the 10 year sit and wait begins for the next leg up.
Also Rocky has always been a cattle based town more than a coal based although it's got a bit more from coal the last few years mainly from the Cat dealer, unlike mackay that has cane and coal so priced accordingly.
Depot Hill used to be a excellent place to live for blue collar people back then mostly railway, council, meatworks, painters, concreters and pro fisherman. Probably still ok although wouldn't think it would be as wild as it used to be to a outsider. The tradition is probably getting watered down these days.
Maybe you should slip down to the Fitzroy Hotel on a Sat morning to the raffels run by the Rebel's MC and see how your scum of the world attitude stands up. Don't forget to take your keyboard to give us all a live report.