Save thousands on your home loan
Compare 25+ lenders and hundreds of loans in an instant
I want:
Westpac Macquarie citibank commonwealth bank anz bankwest
finni mortgages logo
google reviews
4.9
star star star star star
Rating based on 147 reviews

×

Property activity slumps in mining towns

The controversy surrounding the federal government’s super profits tax is starting to impact negatively on the property market.

spi default article image em4omm

New data from Ray White revealed that property sales were down 18 per cent in resource dependent regions such as Mackay.

Ray White joint chairman Brian White said the real estate’s results in mining cities nationwide were below average.

“We didn’t expect the controversy over the Resource Super Profits Tax to impact on property but it did,” Mr White said.

“But offices in the cities that recorded a drop in sales, reported a quick upswing as soon as the new Prime Minister declared an agreement had been reached with the mining companies.

“It was more proof that real estate activity reflects the attitudes of the community as much as their basic needs.”

Ray White’s overall results for June, 2010, were up two per cent on the corresponding period last year with sales of $2.4 billion.

RELATED TERMS

You need to be a member to post comments. Become a member for free today!

Related articles