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NT Darwin anyone

Discussion in 'Where to Buy' started by Bigmaan, 11th Jul, 2015.

  1. Bigmaan

    Bigmaan Active Member

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    I bought and sold in Darwin 2008 and did extremely well out of it. Have watched it rise and rise over the years. Argh would have done better if I rode the wave longer ! It is has hit a bit of a wall now and has slowed. However, looking at it a bit of late and there are some decent properties available and yields are quite good. I like the ROSEBERY, PALMERSTON, GUNN areas still. The gas project still has 2 years before completion and it remains close to Asia for investment. The drop in mining has impacted but the Army still has a good hold up there and tourism is strong and potentially stronger with the lower $ AUD.

    I know Brisbane - Adelaide are the obvious ones but any thoughts on darwin for a buy-hold 7-10 years for Capital growth.
     
  2. strongy1986

    strongy1986 Well-Known Member

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    Hard to say

    The best thing about Darwin is the lack of useable land

    I tend to think it might drift for a while yet but because of the supply issue and low interest rates I could well be proven wrong
     
  3. Purple Patch

    Purple Patch Well-Known Member

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  4. HUGH72

    HUGH72 Well-Known Member

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    FNQ
    Not yet, its in a major down cycle and once Inpex is completed there will be several thousand workers possibly leaving town .
    The rents achieved several years ago were crazy and lots of people made great money there.
    In about 2-3 years I will be looking, the yields have always been strong in Darwin as the economy is very diverse with lots highly paid workers. Its run very hard.
     
  5. Ajax

    Ajax Member

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    23rd Jun, 2015
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    Location:
    Sydney
    Hi Bigmaan.

    I have a property in Gunn. Bought in mid 2005 for 250k maybe worth 470k.
    Properties are becoming harder to let...I was getting $550/week am now asking $470/week (it is being advertised at the moment).

    Darwin seems to move countercyclically to Sydney. I am holding and wondering when another surge in mining investment will happen. That could be a while off.

    I think Hobart is a more interesting propsition at the moment (prices near bottom...start of recovery).

    This monthly report should help you

    http://www.htw.com.au/Downloads.aspx
     
  6. Be Developer

    Be Developer Property Developer Business Member

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  7. aussieB

    aussieB Well-Known Member

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    Location:
    Darwin
    Inpex has laid off quite a work force although they keep advertising they will be bringing in more FIFO workers into the city. They do have their own village for their workers though.

    If you pop over to a few Dariwn based FB pages (Darwin rental lease sales etc) you will see most people are leaving Darwin (I have my plans to leave in the future). It's horribly expensive to stay and to raise a family now for newly arrived families. Yields are dropping all around the place. Houses are staying on the market for months. But this may also be because its only from this year the FHO gov grant for houses constructed before 2013/12 stopped. Recently, where I stay, a decent condition land and house package sold for $20k lesser than what the owner had bought for in 2012 !

    ROSEBERY, PALMERSTON, GUNN are always going to be the essential burbs of Palmerston city. But they also have their fare share of crime too. Gunn, I think, has the most number of cops living but the area also has the highest number of offenses committed by kids of all demographics <18 years old. I would think with Palmerston hospital coming up (whenever it does!) the area may experience a lot of CG. But the sellers also know this and places are priced appropriately. You may also want to keep Coolalinga on your radar. Thats where the next big shopping center is coming up. If you are averse to the herd mentality of "no units", I find this proposition to be very interesting : http://www.farrarvillages.com.au/ 10 year gov lease.

    I would imagine, 7 - 1o years almost any type of IP would see CG?
     
  8. HUGH72

    HUGH72 Well-Known Member

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    Interesting, other than the 16% management fee whats the catch?
     
  9. aussieB

    aussieB Well-Known Member

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    Location:
    Darwin
    What do you mean ? Other than what you can read from the website and the newspapers, I have no other special information at my disposal. Other than the minimum rent guaranteed by the gov and timely increases (CPI ?) I don't think there is a catch. DHA charges 13% management fee and Local REAs charge 10 - 12%. So I'd think 16% is not a deal breaker.
     
  10. HUGH72

    HUGH72 Well-Known Member

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    Looks interesting, I just meant that there is no free lunch if you know what I mean.
    Just wondered if you had more info.