Economics
Australia's Mining Bust Town Reawakens
- Housing, jobs markets in mining states show signs of recovery
- Queensland tipped to be fastest-growing state in fiscal 2018
A mining port facility in Port Hedland, Australia.
Photographer: Brendon Thorne/BloombergThis article is for subscribers only.
House-buyers seeking a bargain amid the wreckage of Australia’s mining boom might want to get in quick.
Port Hedland, a shipping hub for the Pilbara iron ore region in Western Australia, saw house prices collapse nearly 70 percent in the past four years as workers lost their jobs and left amid the end of a resources investment boom. But prices there have reached a bottom and are now even rising.