Located in the hinterland of Central Queensland, Mount Morgan boasts a rich history as the site of one of the world’s most productive gold mines, making it a fascinating destination for residents and investors alike. Despite its patchy history of boom and bust, the community remains close-knit and the town boasts all the pretty, and not so pretty features of a once-booming mining town. Mount Morgan real estate is amongst Queensland’s cheapest, so what should you know before you snap up some of the bargain properties in this inland community?
Image Source: ABC Capricornia
Mount Morgan Region (4714)
Mt Morgan Queensland is on the Dee River, 38 kilometres south of Rockhampton. The area is a locality of the Rockhampton Region and offers a unique lifestyle surrounded by natural beauty and historical landmarks.
The town of Mount Morgan comprises various neighbourhoods, including Gordon Vale, Kenbula, and Talban, each contributing to the diverse tapestry of the area. In the region, under the postcode of 4714, you’ll also find a range of other interesting places to explore, including:
- Baree
- Boulder Creek
- Fletcher Creek
- Hamilton Creek
- Horse Creek
- Johnsons Hill
- Leydens Hill
- Limestone
- Moongan
- Mount Morgan
- Nine Mile Creek
- Oakey Creek
- Struck Oil
- The Mine
- Trotter Creek
- Walmul
- Walterhall
- Wura
Queensland’s Cheapest Real Estate
Whenever a property website releases a list of the cheapest real estate in Queensland, Mt Morgan is usually there, and often in the top slot. The median price is $207,000* and you can often find a small house and land for under a hundred thousand. Why? Mt Morgan was built up for industry and that industry left town when the gold ran out. The Dee River has been contaminated by mining toxins and local water supplies also suffer contaminants. The town sports a “toxic lake” where a mine once was, further lowering the property values. In 2023, Mt Morgan received a $66 Million investment to mine tailings at the old sites, in a bid to breathe new life into the area.
Rich History of Mount Morgan
Mount Morgan was founded in 1882 as a gold mining town. The area, once part of the traditional lands of the Kangulu people, became renowned for its significant gold, silver, and copper deposits. Over its 99 years of mining, the town declared an impressive 225 tons of gold, 50 tons of silver, and 360,000 tons of copper.
Today, Mount Morgan is teaming with historical sites, museums, and tours that offer a glimpse into its prosperous past. The community’s rich history is evident in the heritage-listed sites, such as Mount Morgan Mine and St Mary’s Anglican Church. The town is a treasure trove of geological and cultural wonders, from the Mount Morgan Mine to the Fireclay Caverns and Dinosaur footprints.
Investing in Real Estate Mt Morgan
Once home to one of the richest gold mines globally, Mount Morgan has changed since the closure of the mine in 1990. Today, the town still echoes with the prospecting spirit as mining companies explore the area for further gold extraction. Plans to extract gold from tailings at the mine site are under development, showcasing a resilient economy.
The town has also been flagged with the possibility of abundant indium, a rare earth metal, in the old mine’s toxic wasteland. Indium’s relevance in solar panels has sparked interest, creating potential opportunities for residents and investors.
Education is a crucial aspect of Mount Morgan, with schools like Mount Morgan Central State School and Mount Morgan State High School contributing to local youth development. Also, the crime rate is low in a population of just under 3,000 people.
Mount Morgan’s unique appeal lies in its affordable housing market, a legacy of its mining history. With various houses for sale, Mount Morgan is known to be among the cheapest in Queensland; the town presents investment opportunities for those willing to explore its potential. Median house prices in the area are just over $200,000. Rents average $360 a week for a three-bedroom house and $325 for a two-bedroom home.
Experience the Best of Mount Morgan and Surrounds
Whether you’re considering a lifestyle change to escape the city rat race, looking for affordable housing options, or exploring investment prospects in future growth areas, postcode 4714 and the town of Mount Morgan have something special to offer. From its rich history and natural beauty to potential investment opportunities, Mount Morgan is a destination worth exploring and experiencing firsthand.
Are you looking for cheap houses Mt Morgan or considering rural properties Mt Morgan? Contact our expert team today and discover the possibilities that await you in postcode 4714!
Source: RealEstate.com.au
