Commentary:

The double dip on coal prices reflects impact of GFC then return to boom commodity prices followed by the steady decline as China slows.
Despite clear signals, as early as 2011 on cost pressures for the mining industry, the property market accelerated and Collinsville hit all-time records for the number of sales and prices realised.
Black Saturday (31 August 2013), as referred to by Collinsville residents, represents a realisation that boom times were over. Up to this point, prices were continuing to trend with record highs each quarter. Post the announcements and subsequent mine closures, the
drop was significant in terms of number of sales and prices realised. The following year sales were subdued and discounting had started.
So far this year (2016), we have seen an acceleration of properties hitting the market and very aggressive discounting (some cases over 200% from peak). Sales numbers are still sluggish but at higher numbers than the previous 2 years prices have continued to fall
with 2016 average now just over $72,000, basically back to 2005 levels.

Consequences:

With nearly 10% of the homes in Collinsville for sale, very limited work opportunities and little prospect of new growth, the question has to be who will buy these houses? Even with extreme discounting, numbers will remain sluggish.
Over the last 5 years, buyers were entering into greater and greater levels of debt for what are basically very ordinary homes, mostly Queenslander timber high-set 2, 3 or 4 bedroom. Prices in the pre-2005 era are a fairer representation of value for money.
In March 2016, land valuations slumped across much of the Whitsunday Regional Council area. Residential median land value for Bowen has plunged by 28.1 per cent and Collinsvilles has plummeted by 54.8 per cent. These valuation changes may drive many of the
new owners into negative equity depending on their loan arrangements.
Meanwhile, Collinsville hospital struggles to find a second doctor according to their Local MP it's proving extremely difficult to attract someone to go to Collinsville.
In December 2015, Police ran a two-day operation involved officers from numerous stations in the state's north and from the Australian Border Force. It targeted the towns of Bowen and Collinsville.
Announced, March 2016, Hillside Haven nursing home in Collinsville to close doors for good "We've lost so many jobs already with the mines closing and business has gone downhill with the fly-in, fly-outs in the town and we've got 16 workers here, so it's a
substantial blow," said Worker Sarah Koppensteiner.

Collinsville is the original hometown of Michael McHugh, the High Court judge who presided over the review of the NSW greyhound industry.