I saw a blood path on Darwin cbd apartments, all seem to have half priced compared to 5, 6 years ago. I am curious how the rent is doing, has it halved as well? Anyone hold any of these? Is it worth to enter now? Many 3 bedders are now between 400k to 700k, compared to over a $1m years ago.
I still wouldn't touch any if the highrise with a 10 foot pole. The body corp kills any yield you might claw back. Great to rent....suicide to buy. That said, med density villas and townhouses are totally worthwhile now if you can find one cheap enough.
Its fallen a lot as well, although not as hardcore as the Unit pricing. If you can get a landed house in 0810 for round 400k (was 600k)- you'll be laughing! Gunn, Durack and Bakewell for round 350k isn't bad buying either. Elevated houses with balconies are always sought after but will cost 500k and up to get a good one. These also generally require more maintenance. But probably worth it as they are the best type of property for the climate up here and they simply don't make them anymore.
Rents in Gunn have been rising. Very few rentals available here. Cheapest at the moment is $425/week for a 3 bedroom 2 bathroom house. https://www.realestate.com.au/rent/in-gunn,+nt+0832;/list-1?activeSort=price-asc You can buy a 3 bedroom 2 bathroom house on 473m2 of land for $365k. That is not a bad rental yield (over 6% per annum) given current low interest rates. https://www.realestate.com.au/property-house-nt-gunn-131967830
