Mining boom end pushes down rent in Queensland

Average rent in a number of Queensland, Australia mining towns is coming down quickly as the country's 10-year mining boom fades.

Queensland's Residential Tenancies Authority said that average weekly rent in Gladstone, Mackay and Roma has dropped significantly – as much as 15% in some areas, in its annual report.

Mount Isa however, which is Glencore Xstrata territory, was one area that did not see decline, with average weekly prices rising from A$540 to $580.

"The cheapest place to rent in Queensland currently is Maryborough, coming in at $255 per week, while Mt Isa was by far the most expensive averaging $580 per week," according to the Queensland Mining and Energy Bulletin, citing the report.