The cheapest entry in the LGA — a $357,500 house median (small cottages routinely under $100k) on a 6.4% gross yield, a 25% rental base (the deepest in the group), and a live re-industrialisation catalyst: Heritage Minerals' $66M-NAIF-backed mine-tailings restart targets ~150-170 permanent jobs and commercial gold/copper production around October 2026.
It is a disadvantaged town — household income 48% below the metro, crime 202.7/1,000 (rank 36/100, +31.5% YoY, drug/disorder-weighted) — and the housing is pre-war timber Queenslander stock, so the repair load an LRBA cannot fund is the structural drag on every dollar of that headline yield.
Two things you cannot renovate away: chronic water insecurity (No.7 Dam hit 9.9% in 2021, Level 6 restrictions, water trucked in until the $88.2M Gracemere pipeline completes ~2025) and the abandoned mine's acid-rock drainage, which overflowed into the Dee River in 2013. Access is a single range crossing (the Razorback), ~35-40 min to Rockhampton.
The LGA's highest-risk / highest-optionality micro-market: real yield, real catalysts (mine jobs plus the water fix), but a thin, volatile 74-sale market on repair-heavy timber stock in a disadvantaged town. Only for an SMSF explicitly buying the mine-restart optionality, on a solid-framed post-war house rather than a pre-war Queenslander, and sized so one long vacancy doesn't strain fund liquidity.
| Dimension | Verdict | Why |
|---|---|---|
| Capital growth | ✓ Good | 24.9% compound over 5 yrs, 32.4% last 12m. Past growth is already in the price — sustaining it depends on the supply picture below. trend data (this DB) |
| Rental yield | ✓ Good | 6.4% gross — strong; can approach self-funding at LRBA rates. PropTrack via suburb page |
| Flood risk | ◐ Mixed | Elevated range town, so low riverine flood risk, but the defining hazards are water security (No.7 Dam fell to 9.9% in 2021, Level 6 restrictions, town water trucked in until the $88.2M Gracemere pipeline finishes ~2025) and the abandoned mine's acid-rock drainage, which overflowed into the Dee River in 2013; ranges bushfire season Jul-Nov. No per-lot flood mapping. flood factpack (Capricorn Enterprise 2026); RRC flood maps (verify at address) |
| Crime | ◐ Mixed | 202.7/1,000, rank 36/100, 'relatively unsafe', +31.5% YoY — above the QLD average but drug/disorder-weighted (burglary 31, MVT 7 are low in absolute terms), a disadvantaged-town profile rather than a burglary hotspot. crime factpack — RedSuburbs/QPS 2025 (Mount Morgan 202.7/1,000, rank 36/100) |
| Infrastructure | ◐ Mixed | Township-scale basic services (schools, medical, its own police division, shops, rail-heritage tourism) but ~35-40 min over the range to Rockhampton's base hospital and major retail. transport factpack (drive-time estimates) |
| Owner-occupier appeal | ✓ Good | 71% owned / 25% rented, 52% family households — owner-occupier depth supports prices and resale; verify tenant demand separately (listings volume, room demand). ABS via suburb page |
| New supply risk | ✓ Good | No development pipeline — ultra-cheap static heritage stock; supply is fixed while the mine restart adds demand, so scarcity works for the fund if the town turns. supply factpack (Mount Morgan micro-market — no estate pipeline) |
| Distance to rail | ✗ Bad | No commuter rail (heritage rail only); ~35-40 min to Rockhampton CBD over the Burnett Hwy range crossing (the Razorback), which had major reconstruction tied to the water pipeline in 2024-25. transport factpack — Burnett Hwy drive time |
| Housing stock & upkeep | ✗ Bad | Pre-war timber Queenslander stock — the cheapest houses in QLD but the heaviest repair load, which an LRBA cannot fund; the state remediation covered make-safe works on 18 unstable heritage buildings in town. editorial — stock-age judgment |
| Month | Value | Sample |
|---|---|---|
| 2021-07-31 | $120,000 | 68 |
| 2021-08-31 | $120,500 | 70 |
| 2021-09-30 | $125,000 | 79 |
| 2021-10-31 | $125,000 | 80 |
| 2021-11-30 | $125,000 | 82 |
| 2021-12-31 | $125,000 | 81 |
| 2022-01-31 | $134,500 | 76 |
| 2022-02-28 | $140,000 | 79 |
| 2022-03-31 | $142,500 | 86 |
| 2022-04-30 | $147,000 | 91 |
| 2022-05-31 | $145,000 | 93 |
| 2022-06-30 | $150,000 | 93 |
| 2022-07-31 | $153,000 | 97 |
| 2022-08-31 | $153,000 | 99 |
| 2022-09-30 | $154,000 | 90 |
| 2022-10-31 | $155,000 | 92 |
| 2022-11-30 | $155,000 | 96 |
| 2022-12-31 | $156,250 | 96 |
| 2023-01-31 | $157,500 | 99 |
| 2023-02-28 | $157,500 | 99 |
| 2023-03-31 | $165,000 | 92 |
| 2023-04-30 | $175,000 | 87 |
| 2023-05-31 | $176,550 | 88 |
| 2023-06-30 | $184,000 | 84 |
| 2023-07-31 | $187,000 | 79 |
| 2023-08-31 | $195,000 | 81 |
| 2023-09-30 | $196,250 | 82 |
| 2023-10-31 | $195,000 | 79 |
| 2023-11-30 | $202,500 | 80 |
| 2023-12-31 | $205,000 | 81 |
| 2024-01-31 | $207,500 | 78 |
| 2024-02-29 | $210,000 | 75 |
| 2024-03-31 | $211,000 | 74 |
| 2024-04-30 | $210,000 | 74 |
| 2024-05-31 | $215,000 | 77 |
| 2024-06-30 | $215,000 | 85 |
| 2024-07-31 | $217,500 | 92 |
| 2024-08-31 | $230,000 | 87 |
| 2024-09-30 | $232,000 | 93 |
| 2024-10-31 | $237,500 | 92 |
| 2024-11-30 | $243,000 | 87 |
| 2024-12-31 | $241,500 | 84 |
| 2025-01-31 | $245,000 | 86 |
| 2025-02-28 | $250,000 | 88 |
| 2025-03-31 | $250,000 | 85 |
| 2025-04-30 | $260,000 | 85 |
| 2025-05-31 | $260,000 | 89 |
| 2025-06-30 | $270,000 | 82 |
| 2025-07-31 | $285,000 | 80 |
| 2025-08-31 | $285,000 | 77 |
| 2025-09-30 | $300,000 | 72 |
| 2025-10-31 | $316,500 | 74 |
| 2025-11-30 | $325,000 | 76 |
| 2025-12-31 | $330,000 | 84 |
| 2026-01-31 | $330,000 | 84 |
| 2026-02-28 | $330,000 | 84 |
| 2026-03-31 | $340,000 | 89 |
| 2026-04-30 | $350,000 | 90 |
| 2026-05-31 | $355,000 | 79 |
| 2026-06-30 | $357,500 | 74 |
| Month | Value | Sample |
|---|---|---|
| 2021-07-31 | $240/wk | 30 |
| 2021-08-31 | $240/wk | 30 |
| 2021-09-30 | $240/wk | 32 |
| 2021-10-31 | $240/wk | 33 |
| 2021-11-30 | $245/wk | 34 |
| 2021-12-31 | $250/wk | 34 |
| 2022-01-31 | $250/wk | 37 |
| 2022-02-28 | $250/wk | 37 |
| 2022-03-31 | $260/wk | 41 |
| 2022-04-30 | $260/wk | 41 |
| 2022-05-31 | $260/wk | 43 |
| 2022-06-30 | $270/wk | 43 |
| 2022-07-31 | $270/wk | 41 |
| 2022-08-31 | $275/wk | 38 |
| 2022-09-30 | $280/wk | 36 |
| 2022-10-31 | $280/wk | 35 |
| 2022-11-30 | $280/wk | 34 |
| 2022-12-31 | $298/wk | 34 |
| 2023-01-31 | $300/wk | 35 |
| 2023-02-28 | $300/wk | 34 |
| 2023-03-31 | $300/wk | 30 |
| 2023-04-30 | $315/wk | 32 |
| 2023-05-31 | $320/wk | 33 |
| 2023-06-30 | $330/wk | 35 |
| 2023-07-31 | $335/wk | 34 |
| 2023-08-31 | $350/wk | 33 |
| 2023-09-30 | $350/wk | 28 |
| 2023-10-31 | $350/wk | 29 |
| 2023-11-30 | $350/wk | 30 |
| 2023-12-31 | $350/wk | 29 |
| 2024-01-31 | $350/wk | 31 |
| 2024-02-29 | $360/wk | 31 |
| 2024-03-31 | $360/wk | 32 |
| 2024-04-30 | $360/wk | 31 |
| 2024-05-31 | $360/wk | 27 |
| 2024-06-30 | $380/wk | 28 |
| 2024-07-31 | $380/wk | 35 |
| 2024-08-31 | $383/wk | 34 |
| 2024-09-30 | $390/wk | 32 |
| 2024-10-31 | $395/wk | 33 |
| 2024-11-30 | $395/wk | 31 |
| 2024-12-31 | $400/wk | 28 |
| 2025-01-31 | $400/wk | 29 |
| 2025-02-28 | $405/wk | 28 |
| 2025-03-31 | $410/wk | 28 |
| 2025-04-30 | $420/wk | 27 |
| 2025-05-31 | $410/wk | 32 |
| 2025-06-30 | $415/wk | 32 |
| 2025-07-31 | $420/wk | 30 |
| 2025-08-31 | $430/wk | 33 |
| 2025-09-30 | $430/wk | 35 |
| 2025-10-31 | $435/wk | 36 |
| 2025-11-30 | $425/wk | 36 |
| 2025-12-31 | $430/wk | 37 |
| 2026-01-31 | $450/wk | 42 |
| 2026-02-28 | $450/wk | 41 |
| 2026-03-31 | $440/wk | 42 |
| 2026-04-30 | $428/wk | 44 |
| 2026-05-31 | $430/wk | 46 |
| 2026-06-30 | $440/wk | 46 |
| 2 bed | 3 bed | 4 bed | 5+ bed | |
|---|---|---|---|---|
| Median price | $330k | $390k | $380k | $520 |
| Median rent | $400/wk | $450/wk | $450/wk | $520/wk |
| Implied yield | 6.3% | 6.0% | 6.2% | 5200.0% |
| School | Level | Grades | Sector | Students |
|---|---|---|---|---|
| Mount Morgan Central State School | Primary | Prep-6 | Government | 151 |
| Mount Morgan State High School | Secondary | 7-12 | Government | 222 |
| Address | Sold price |
|---|---|
| 6 Sheil Cres, Mount Morgan | $480,000 |
| 13 Lukin Street, Mount Morgan | $470,000 |
| 59 East Street, Mount Morgan | $470,000 |
| 40 James Street, Mount Morgan | $465,000 |
| 41 Central Street, Mount Morgan | $447,000 |
| 2 Cribb Street, Mount Morgan | $435,000 |
| 6 Gordon Lane, Mount Morgan | $419,333 |
| 9 Dobbs Street, Mount Morgan | $406,000 |
| 5 Dublin Lane, Mount Morgan | $399,000 |
| 19 East Street, Mount Morgan | $395,000 |
| 57 James Street, Mount Morgan | $390,000 |
| 48 Pattison Street, Mount Morgan | $320,000 |
| LGA | Subregion | Suburb | Address | Fit ▼ | Sub. Score | B/B/C | Land | Land $/m² | vs Sub. land | Land Idx | Price | Estimate | vs Est. | vs Bed Med. | Est. Yield | Suburb Yield | Risk |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Rockhampton Region | Mount Morgan, Bouldercombe and southern ranges | Mount Morgan | 43 Hall Street | 12.2 | 7.1 | 4/2/3 | 1009 m² | $505 | ▲ 0% dearer | 9.3 | $510k | $524k | ▼ 2.7% below | 134% | 5.7% | 4.6% | clear |