Mining downturn a blow to Gladstone rents again
A DOWNTURN in the mining industry could be having flow-on effects for the rental market across the whole of Central Queensland - if new figures are anything to go by.
Median weekly rents in Gladstone have fallen the most in the past two years - a staggering 37.5%.
Central Highlands, which recorded median weekly rents about $400 in June 2013, fell to a median of $220 this June quarter.
The same happened for Mackay over the past two years; with median rent prices falling from $400 in June 2013 to $300 this year.
Thermal coal prices continued on a downward course in the first half of 2015, in response to a surplus supply and lower import demand from China.
Demand for Australian coal in key markets including Japan, South Korea and Chinese Taipei remained relatively steady during 2014-15.
The trend so far in 2015 confirmed that India was set to become the biggest Asian market for Australia's thermal coal.
Indian imports of thermal coal reportedly jumped 23% in the first quarter of 2015.