NT Darwin... Is now the time?

Here's so more news from the other side of the coin....

Almost a billion wiped from NT property market in four years
Almost a billion wiped from NT property market in four years

Going by the Media's past track record....this could almost be a a BUY signal! Ha!

 

I see that it is now the cheapest capital city in Australia. The title changed from Hobart to Darwin

 

Yup. There has been some serious carnage to get to that point.

in 5 years Darwin has gone from the most expensive to the cheapest.

The people in the above article are all based in Palmerston, Darwin's satellite city. Out there and in the CBD is where things have been hit the hardest.

It's awful to hear of good people being caught in the crossfire like that...

 

Hey lads, just a quick question, who pays for pest and building reports up in the NT, the buyer or seller of homes?

 

Depends. If it's a normal sale then the buyer.

However most auctions that I've been to have had the b and p already done.

 

Cheers mate.

 

So reading a bit from Core Logic and Real Estate.com and its indicating that settlement up in the NT is 10% approximately below asking price. So Territorians are people actually offering $530,000 on $600,000 homes and settling on $540,000? Or is the negotiating experiences of you guys much different up there. Hoping to make PPOR offers in 2 weeks or so. Cheers again

 

Yup...but start at 20 percent. In order to cover your backside, you MUST secure a bargain.

 

Big day for Darwin news.

- Prime minister Abe opens the gas plant.
- ScoMo announces a huge new education precinct in the CBD
- Darwin is touted as a major Oil and gas hub by everyone...inpex is already talking about expanding.

Lots of talk and I'll believe it when I see it! Still, it's nice to finally hear some good news!

 

Yep, here we go!

$200mil CDU in the CBD
State Square Art Gallery
Waterpark at Tank Farm
Project Sea Dragon (Gunn Pt)
Lyons Stage 2
Berrimah Farm
Truck City
Lithium Factory
Westin Hotel Darwin

Id say we will hear from ConocoPhillips and INPEX on expansion projects soon.

With investment comes infrastructure, with infrastructure comes population growth, with population growth comes price rises.

Darwin is going to start booming in 12-18 months, this one is going to be nothing compared to the last one, it’ll be twice the size!

 

Was wondering how Herron Todd White's investment clock Property Report - Herron Todd White was going to be reflected in property prices. They have Darwin in start of recovery. The only capital city at this stage. I back tested Darwin property prices to the 70's. Darwin always does well when Sydney is in a falling market. Let's see if it proves a counter-cyclical bet against the Sydney market again. Conoco Philips second train announcement would be a good catalyst. A Chinese friend reminded me of Darwin's proximity to Asia and that prior to the handover of Hong Kong in 1997 there was talk of moving Hong Kong businesses and residents to a Northern Territory special economic zone to be established in Darwin.

 

Are you into crypto-currencies per chance @Longrass?

 

I was, but sold out on 15th December last year as it seemed too good to be true. Everyone else sold a week or so later and the rest is history.

It’ll be a bumpy road for business confidence in Darwin over the next 12 months, but aside fire sales, I think we are at the bottom. We just made purchases this month in.

 

Talking about firesales, this is amazing value...

30 Landsborough Street Bakewell NT 0832 30 Landsborough Street, Bakewell, NT 0832

 

Australia’s Housing Market Records the Weakest Conditions Since the Global Financial Crisis

Possibly some green shoots again, Darwin has for a few months had some "non-horrific" data on the whole.

 

Is there a cheaper insurer than other up in the NT, couldn't help but lol when I saw TIO offer crocodile death cover! In NSW premiums are far cheaper than in the NT.

After home and contents insurance.

 

There are some cheaper ones, but it will be more expensive no matter who you go with because of cyclones

 

Which company should I touch base with Woolies, QBE are more pricey than TIO for us so far.

 

I had good luck with resilium. But it will depend on your property and how the insurance companies assess it.
I reckon you will just have to shop around..