Geraldton has been listed as one of the WA locations which is most likely to get a property value boost from the resources revolution than rural mining towns according to a national property investment analyst.
Geraldton was listed in the ‘top 10 miners playgrounds’ in a report by Hotspotting.com.au
Hotspotting founder Terry Ryder says the listed spots are likely to outperform the market in the coming years because of the number of FIFO workers buying there.
Mr Ryder said Geraldton differed to the other places mentioned on the list.
"While uncertainty over the future of the $6b Oakajee Port project, which was officially put on hold last year, had put a damper on Geraldton’s hotspot status, the town remained a strong prospect," Mr Ryder said.
“The port development is not the only event propelling Geraldton’s future.
“It has the kind of solid diversified economy that underpins property markets, it’s still affordable and it has genuine hotspot potential — potential which is not solely reliant on resources.”
In the company’s Miners Playgrounds report, Mr Ryder points to the development of the Square Kilometre Array, planned for a station north-east of the town, the $2.47b Karara mine and other mining activity, and fishing, farming and tourism as draw-cards for the area.