The mine closed its doors leaving a vacuum not only in the town’s economy but also its real estate prices.

Tectonic, First Quantum Minerals and Galaxy Resources workers are to occupy the vacant housing.

Shire of Ravensthorpe president Ian Goldfinch said that things were looking up for Ravensthorpe and Hopetoun with the First Quantum taking over the BHP site.

“Galaxy will start producing product around August/September and we are looking at a reasonable number of contractors coming in.

“All of a sudden the Hopetoun and Ravensthorpe housing is filling up,” he said.

Mr Goldfinch said that shopkeepers are being careful and are not going overboard with stocking up just yet.

“We have learnt that mining goes up and down and we have had such a jolt and had to take that into consideration.”

Elders Real Estate Hopetoun manager Terri Pens said the real estate market was looking much better than it had been for some time.

“There is no such thing as bad publicity because due to it we are now more on people’s minds and people are hearing about us and coming to have a look.

“The Galaxy mine will employ about 150 people and a number of those are leasing and some are buying,” she said.

“We have broadened the base and are not just relying on one company and mining.

“I have sold property to people from Perth and Victoria.

“The atmosphere is quite upbeat and positive,” she said.

Landmark real estate specialist for Ravensthorpe/Hopetoun Cindy Gordon said that Galaxy’s staff would not arrive until next month.

“The rentals have been taken up and we are getting to a point where rental prices are lifting.

“We have also seen a few sales,” she said.

Ms Gordon said that there was a lot of interest from people who were looking at the area.

“On the downside, people who want to take out loans from banks to buy in Hopetoun are only getting 50 per cent because the banks still see Hopetoun as high risk place, but that is not true anymore.”

She said that it has been very busy for the past year and the average properties are selling from $250,000 to $350,000 while there were also a few properties selling for over a million.

“Galaxy have taken out leases for six months.

“It’s looking much more positive than it has for a while - the prices are more reasonable and business is starting to show more activity.”

First Quantum Minerals spokesperson said that 160 homes were bought for their employees, which was part of the BHP deal.

“The initial stages of building will have about 200 construction workers living in camps and a total of 600 workers once everything gets going,” he said.

Galaxy Resources company spokesperson would not confirm how many properties they have leased in Hopetoun and Ravensthorpe.

“We will lease them then sub-lease them on to our employees,” the spokesperson said.

“It will peak to 150 staff in April during construction and then it will diminish a bit.”

Tectonic did not get back to the Express prior to publication deadline.