'This year has been crazy': Mining town's property boom
CLERMONT is hot property according to a large trend made apparent by recent property sales.
LJ Hooker in Clermont just recorded 20 sales in one month, and according to agent Amy Lamont who entered the real estate game in early 2018, they would have been lucky to make those numbers in a year.
This comes just days after RiskWise Property Research CEO said investors should be careful entering mining markets prone to fluctuation, particularly in Clermont.
It had been a slow job for MsLamont until immediately after the federal election, that's when she said interest in the town increased astronomically.
"This year has been crazy," she said.
"There was a two-week period when we had 12 properties settling."
She said investors were snapping up local units as well as plenty of house sales, which she came around the same time of the Adani groundwater environmental approval.
Despite the rapid increase in sales, MsLamont said prices were not rising, and she attributed this to a flooded market.
"The way it works out here is we need less listings for the price to go up," she said.
"Most of the sales we saw were at the lower end of the market also, we didn't see much movement in the higher end."
She said she was already beginning to see some new faces around town, and the small mining town seemed "a lot busier".
"The IGA is pretty much full all day everyday now," she said.
Other property data sources show the month just gone recorded six pushing the high 300,000 and 400,000-dollar mark. RP data showed only five sales in the first three months of 2019 before increasing rapidly after March.
Clermont is the closest township to the proposed Adani Carmichael mine, and within designated 'employment radius' offering employment and business opportunities to Clermont-based workers and service providers at the Carmichael Mine.