Coal-seam gas fields are a big worry for many city and rural landowners.
Mention coal-seam gas in the same breath as property and you will see fireworks and fear.
It’s the reaction in newly affected areas such as Sydney’s suburban St Peters, where locals’ fences are festooned with protest banners, in the lush wine-producing Margaret River region of Western Australia. And even in western Queensland where towns and farming areas have 15 years’ experience of CSG wells.
It is not clear whether coal-seam gas is a good thing or a bad thing for a district and agents disagree about its significance.
The Roma region has seen quite significant increases in values for residential land. This is rental and housing demand from mine employees, says Bruce Booth, principal of First National, Chinchilla.
“Sales have picked up and demand on rentals is huge,” he says. “Our vacancy rate is zero, investors are getting interested and we expect sales to increase.”
And it’s a similar story on the other side of the continent. Kelly Donaldson, director of Margaret River Real Estate First National, says: “I can’t tell you the percentage affect CSG is having until properties sell, and they’re not selling because of CSG.
“People are saying: I don’t want to move into the area til we know the issue is settled.’
Even farmers such as Peter Thompson, who is happy to have wells in place, and who has just signed up for more, says he would not like to try selling his property 80km northwest of Roma.
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