NT Alice Springs/NT info thread

Just thought I'd throw an Alice Springs / NT thread in here, see what people's feedback is on the area. The market here is a consistent one that sees properties hold values due to limited land availabilities.

I was quite surprised when I started researching that properties could sell for 1.3 million in prestigious areas like Desert Springs.

The market activity seems to be picking up with less available stock.

Current market updates:
35% reduction in stock on the market vacancy rate dropped from 2.6% down to 1.6%

There is a new land estate going in "Kilgariff" still not yet to take off due to proximatey from town and building costs. Builders charge between $2000-$3000 per square metre to build making the new market still expensive compared to existing build. Hence alot of people buy existing properties.

Stamp Duty in the state is 5% and no land tax charged.

A couple of the stronger suburbs
Araluen median price 505 / 5.9% yield
Desert Springs median price 728 5.3% rent yield

Desert Springs is the golf course estate and the area in town with the strongest value of land, break down:
5 bedroom houses median price $890000 4.6% yield
4 bed 745000 5.2% yield
3 bedroom 610000 5.6% yield

Alice Springs is a place where streets can differ massively even in the same suburb.

An example is Stirling Heights in Larapinta. Larapinta has a median price of 355 however Stirling Heights in Larapinta has houses listed between 700-849000. The suburb originally was intented as a affordable housing area and ended up being a place where builders put high quality spec homes.


Defence and police housing are
two great opportunities with the rental market as they offer solid yields and good property upkeep.

Feel free to comment

 

good to here vacancy is dropping a bit..my mum has a towny in AS and it was hard for a good few years to get a tenant, she had a few short terms who were there for specialist work. but i think its picked up a little from what she has said.

strata / maintenance costs are very high though so factor that in (from what she says)!

 

Units have dropped a little with stock on hand but not much. Predominantly housing that has since the drop in availability.
Due to affordability most people would look to buy houses over units unless the unit is located in a quality area like araluen or desert springs

 

@Switchtronics.... ahh my hometown! In terms of making money i dont see any major capital growth happening there, no major infrustructure projects in the pipeline. There would have been some better oppurtunity before they started releasing land again, which land shortage from memory was the reason for the increase in prices last time. However no population growth in the working class, actaully last time i checked the ABS it was actually decreasing. Businesses were shutting down etc. Plenty of places in OZ to choose from before AS. Especially some places in Adelaide which isn't far accoring to locals. However in terms of making cash i see lots of fixer-uppers there with potentional to flip or make money on the way in....but in terms of long term gains i would be going elsewhere.

 

Definitely a challenging market. However yields hold strong. Kilgariff isn't getting much traction and people still wana buy in town. Population growth still a concern however it's amazing the prices properties go for here. You seen a couple of Reno jobs worth buying? @Andrew H

Here's a good example of someone doing well. Bought for $430k in 2010, renovated kitchen and added a new fence, upgraded granny flat. Getting 820 per week rent with each room let and about to go on the market for $585k
Property Report for 7 Renner Street, East Side NT 0870

 

Oh good Alice
I own a few up the track a little bit rent is good that's about it
Like someone else maintanence is a killer and like others said plenty of other places I'd be putting my money if I had any!!
Adelaide def being one of them

 

Bit of an update in Alice

Araluen doing very well. Good numbers of people at open homes and steady competition in 600-800k homes.

Alot of people looking for quality homes at present and high value ones selling quickly. A house 4/3/2 +pool sold on tmara mara cct(desirable location) within 1 day of going onto the market for $6180000.
40 Tmara Mara Circuit Ciccone NT 0870 - House for Sale #124862874 - realestate.com.au

More in the suburb

4/2/2 with pool 12 kempeana crs in Araluen sold for 632k
http://www.realestate.com.au/sold/property-house-nt-araluen-122822406

4/2/2 brandt ct (desirably area)
Market price $618k under contract

5 Brandt Court Araluen NT 0870 - House for Sale #124523530 - realestate.com.au

Araluen profile
Median price$534,750.00
Quarterly growth5.89%
12-month growth9.61%
Average Annual Growth6.79%
Weekly median advertised rent$545.00
Number of sales 21
Gross rental yield5.30%
Days on market137.95

Desert Springs showing interest in the high end market
This property had over 30 ppl through first week of listing.

6 CROMWELL DRIVE Desert Springs NT 0870 6 CROMWELL DRIVE Desert Springs NT 0870 - House for Sale #124946766 - realestate.com.au

A couple of golf course mansions hit the market at offers over 1.2 million (would be under build value to replace)

 

Market showing positive action in the 600-800k range.

This property listed at $649k under offer within a week in the popular Desert Springs Area


52 HILLSIDE GARDEN Desert Springs NT 0870 52 HILLSIDE GARDEN Desert Springs NT 0870 - House for Sale #125052786 - realestate.com.au

Interesting block of units with 8% net yield
1 Aneura Place Sadadeen NT 0870 1 Aneura Place Sadadeen NT 0870 - Unitblock for Sale #125133126 - realestate.com.au

The big guys bargains

 

Not sure who buys these apartment blocks in regionals

Capital growth is not going to happen anytime soon.

Rates and water are huge on them and the tenants the property attracts are usually vulnerable, centrelink or even worse, transient. Maintenance would be large too
Would have quite a bit of vacancy i would imagine. First places to be vacated in a downturn as tenants can find a better unit for same price.
If these really were the great cash cow they say they are do you really think they would ever be sold?
The only ones i would look at are if it was a deceased estate and kids want a quick buck.

I reckon unit blocks can be a good earner in regionals but i think its best if its something you build yourself and keep it to a max of 4 units to keep a resale value, which in theory if youve made the right call should be unnecessary

 

Fracking decision is a big one for the NT. If it happens, lots can change for their economy hence boosting everything around including housing.
To ***** or not to *****: The debate dividing the Top End

 

A few new proprties have hit the market. What are people's thoughts on this one?
New build would be approximately $2500-$3000 per m2 here. Offers a great family aspect. Open home had multiple viewings and 3 offers already. Rental appraisal $850-$900 per week.

9 Mparntwe Drive Larapinta NT 0875 9 Mparntwe Drive Larapinta NT 0875 - House for Sale #125127194 - realestate.com.au

 

This one actually had multiple offers and Ive heard has sold above asking price. Definitely a lower socio economic area, hasn't had too many issues with sourcing tenants I believe

 

Stirling Heights is a suburb in Larapinta. Much different to Larapinta however.

Highly desirable as it is secure, no commercial or retail nearby. It was a new land development that ended up being sold mostly to builders and new home owners now show casing some of the best properties in Alice. $970k is one of the highest sales recorded in Ilpme Court. Land value is Approximately $250k for 800m2.

Here are similar properties to the above listed at $839k

15 Mparntwe Drive Larapinta NT 0875 15 Mparntwe Drive Larapinta NT 0875 - House for Sale #124829158 - realestate.com.au
$989k (under contract) owner builder

27 Irlpme Court Larapinta NT 0875 27 Irlpme Court Larapinta NT 0875 - House for Sale #124157774 - realestate.com.au
$829k ( has been listed at $849) paid $750 and spent approx $70k on upgrades and pool.

27 Irlpme Court Larapinta NT 0875 27 Irlpme Court Larapinta NT 0875 - House for Sale #124157774 - realestate.com.au
$765k (30% smaller size)

 

New land estate in Alice Springs!

Here are the details of a new estate going 5 minutes from town. It has the makings of a great estate being positioned inbetween the entrance of the picturesque Gap into Alice.

Only challenge here is getting a cost effective builder. The blocks have been seen with positive response and multiple sales already. Blocks won't be ready until december 2017.

Secluded, quiet and close to everything, South Edge Estate’s highly anticipated land release is an opportunity not to be missed!

Build your dream home in this wonderful and affordable location, surrounded by natural beauty at the foot of the MacDonnell Ranges. This exciting development is only minutes from the centre of town, yet remains a quiet sanctuary.

Design your ideal home in this vibrant, private community, embraced by the serenity of the Central Australian landscape.

All blocks are available now! Construction will commence before July 2017 with titles on or before December 2017.

1 470m² $165,000
2 463m² $165,000
3 657m² $175,000
4 767m² $175,000
5 1268m² SOLD
6 2083m² SOLD
7 807m² SOLD
8 670m² SOLD
9 586m² SOLD
10 580m² UNDER OFFER
11 732m² SOLD
12 550m² SOLD
13 472m² $160,000
14 468m² $160,000
15 534m² SOLD
16 625m² SOLD
17 469m² $155,000
18 465m² $155,000
19 465m² $155,000
20 460m² SOLD
21 473m² $150,000
22 613m² $155,000
25 689m² SOLD
26 598m² $160,000
27 673m² SOLD
28 624m² $162,000
29 657m² $162,000
30 561m² SOLD
31 450m² $160,000
32 450m² $160,000
33 450m² $160,000
34 518m² $165,000
35 503m² $165,000
37 1569m² SOLD

While all due care has been taken, site plan is approximate only. Images are artist’s interpretations only. Plans are not final and may be changed. Development is subject to final planning approval and AAPA clearance. Area values listed represent entire blocks including embankments, available development area may be different. Please check current site plan for current values.

 

This property has sold already less than 2 weeks on the market

 

Hi, any idea of rough cost to build a 4 bed 2 living area house in Alice? Wondering if building makes more sense than buying and renovating. Also if we don't intend staying in Alice long term would a property like this be worth keeping as a rental? Cheers

 

I would say buying and renovating is the best option. Costs to build here are expensive. $2000 - $3000 per square metre. To build in Alice you have to have a nt builders licence so sourcing outside of nt is difficult. You can often buy larger homes for less than a new build. Although renovating can be expensive also as tradies are costly. I would suggest this as a cheaper option though

 

Thanks Switchtronics. Good to know. Will keep our eyes open for a house in a good area then that just needs a spruce up. I know that if we leave Alice in the next few years though we wouldn't make our money back on the property, so would renting an executive house in Alice be a viable option.

 

Are you guys currently living in Alice? What area are you looking at?

Quality homes are in Desert Springs, Mt Johns, Araluen and Stirling Heights. Rents are quite high as limited availability.