- June 20, 2019
- Posted by: Rogers Property Group
- Categories: Australian Property Market, Latest News, Perth Property Market
While there were great gains to be made in WA’s Pilbara region during the mining construction boom, those gains have come off drastically with losses in the region at almost 60%. This gives the region the crown of the biggest loser in Australia.
I am not a believer in investing in any regional markets that significantly rely on one type of job. In this case mining. With a reduction in mining construction comes a reduction in the work force which leads to less houses needed. It is said that once a mine goes out of construction into production phase, it only needs 5% of its work force.
Careful of regional markets people.