NT Darwin - is this the start of recovery?

Discussion in 'Where to Buy' started by Ajax, 10th Aug, 2019.

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  1. hammer

    hammer Well-Known Member

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    Nah. I think it's just a case of "the price is right".
     
    hammer, 29th Oct, 2019
    #21
  2. Ajax

    Ajax Well-Known Member

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    South China Morning post 3 August 2019

    Darwin, Australia at centre of strategic tussle between US and China
    • United States plans to build military facility in the Northern Territory capital once it’s approved by Congress, according to Australian defence minister
    Darwin, Australia at centre of strategic tussle between US and China "The South China Morning Post, with its Sunday edition, the Sunday Morning Post, is a Hong Kong English-language newspaper founded in 1903. It is Hong Kong's newspaper of record, owned by Alibaba Group."
     
    Ajax, 11th Nov, 2019
    #22
  3. Appy

    Appy Active Member

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    What kind of impact would this have on the NT economy and house prices?
     
    Appy, 11th Nov, 2019
    #23
  4. Ajax

    Ajax Well-Known Member

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    Inpex hunts growth in Australian 'heartland': Okawa

    "Japan's Inpex Corporation is seeking opportunities to expand its $US45 billion Ichthys liquefied natural gas project in Australia's north, with new exploration drilling and potential acquisitions also on the table.

    The oil and gas giant, part-owned by the Japanese government, will look at options to build new LNG processing trains at the Ichthys site in Darwin once the existing two trains are operating at full tilt, and may seek to access new oil and gas resources from its Browse Basin fields, other offshore fields or onshore shale in the Northern Territory's Beetaloo Basin."... "Inpex is in the final stages of ramping up production at Ichthys LNG to its full capacity of 8.9 million tonnes a year of LNG, plus LPG and condensates. After shipping its first LNG cargo in June, Mr Okawa said Ichthys reached its 100th LNG cargo milestone on November 15 after ramping up production more smoothly than expected."
     
    Ajax, 3rd Dec, 2019
    #24
  5. Darwin55

    Darwin55 Well-Known Member

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    Fingers crossed.
     
    Darwin55, 4th Dec, 2019
    #25
  6. ATANG

    ATANG Well-Known Member

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    I had a look at the recent sold data of a apartment complex my friend bought into in 2014, it’s down from $600k to $375k.
     
    ATANG, 5th Dec, 2019
    #26
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  7. Darwin55

    Darwin55 Well-Known Member

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    A lot of people have lost a lot of money that’s for sure
     
    Darwin55, 5th Dec, 2019
    #27
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  8. hammer

    hammer Well-Known Member

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    Yup. The unit market is ground zero. The bigger the complex, the bigger the body corp costs and the stronger the carnage.
    Honestly, they'd be lucky to get 375k now.

    That being said, I'm finally starting to see units selling around the city. Usually the smaller blocks without lifts.

    The price isn't high though...
     
    hammer, 5th Dec, 2019
    #28
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  9. ATANG

    ATANG Well-Known Member

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    Does it mean it’s a good time to get in? But then the body corp cost is ridiculously high which just defects the purpose...
     
    ATANG, 5th Dec, 2019
    #29
  10. hammer

    hammer Well-Known Member

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    It can be....but be smart and minimise your risk.

    Buy a PPOR, not an investment.

    Buy something cheap, in a great location and buy something with land.

    Here's a prime example.
    3/8 Barossa Street, Larrakeyah, NT 0820
     
    Last edited: 6th Dec, 2019
    hammer, 6th Dec, 2019
    #30
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  11. Ariyahn2011

    Ariyahn2011 Well-Known Member

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    I almost got in, had a great poster on here very selfless with his time.

    Unfortunately a combination of events stopped me. Probably the 3rd point on my list not to buy at this time was the job market in Darwin (this is based on my own personal experience). My wife has been finding it quite difficult to find work despite having 15 years of experience.It is the longest she has been without work (for contrast we moved from Melbourne about 1.5 years ago).

    Sometimes I wonder if the employment rates are accurate in Darwin as I am told that people who cant find work end up leaving therefore leaving the statistics somewhat inaccurate. Not sure if defence makes up a lot those statistics also?

    Either way, if you can afford it, and you believe you will be in Darwin long term, I personally believe it is a great time to buy (as long as you are conservative with debt).

    I love Darwin personally and I reckon I will be here for a while (as long as we can find work).

    Good luck.

    Disclaimer: not advice.
     
    Ariyahn2011, 6th Dec, 2019
    #31
  12. hammer

    hammer Well-Known Member

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    Stick with it man. I'm sure she will find something. There are still jobs here. Amazing jobs.

    As people leave, it opens up opportunities too.
     
    hammer, 6th Dec, 2019
    #32
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  13. Ajax

    Ajax Well-Known Member

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    More news on new gas processing trains in Darwin....

    Potential for six new trains at Darwin LNG

    With strong government backing, Australia is moving swiftly to maximise a narrow window to expand LNG exports ahead of a wave of low-priced LNG from the US and other regions
    Potential for six new trains at Darwin LNG

    INPEX CONSIDERS PLAN TO TRIPLE PRODUCTION

    THE head of Japanese energy giant Inpex has flagged potential plans to expand the Ichthys LNG onshore processing facilities in Darwin
    No cookies | NT News

    Gunner makes pitch to win back NT business

    Labor NT Chief Minister Michael Gunner wants to win back business after a difficult few years.
    Northern Territory Chief Minister Michael Gunner has made a pitch to business to back his Labor government ahead of next year's election despite no economic growth this year and a debt-laden budget.

    A suite of major projects in natural gas, including fracking, mining and manufacturing were due to begin in the next few years and the world's largest solar farm beyond that.

    Gunner makes pitch to win back NT business
     
    Ajax, 9th Dec, 2019
    #33
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  14. hammer

    hammer Well-Known Member

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    hammer, 23rd Dec, 2019
    #34
  15. Rex

    Rex Well-Known Member

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    Jeez nothing strikes fear in the heart of an investor like the president of the real estate institute (the spruiker-in-chief) saying he expects the market will bounce back in another DECADE or so...
     
    Rex, 23rd Dec, 2019
    #35
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  16. Appy

    Appy Active Member

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    That would equal 15 years of negative growth, have any other markets experienced similar I wonder. Outback mining towns?
     
    Appy, 24th Dec, 2019
    #36
  17. hammer

    hammer Well-Known Member

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    Townsville comes to mind? Heaps of places out bush? Western Tassie for a long while?
     
    hammer, 24th Dec, 2019
    #37
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  18. Ajax

    Ajax Well-Known Member

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    Am starting to see houses in Gunn under offer/under contract. About 50% of listed houses in the suburb are now under offer/under contract,
    Houses for Sale in Gunn, NT 0832 - realestate.com.au

    Rents seemed to have bottomed as well. Very little available for rent under $400/week.

    https://www.realestate.com.au/rent/property-house-in-gunn,+nt+0832;/list-1?activeSort=price-asc

    These are the green shoots we need to see. Darwin now has the cheapest median capital city house price in Australia (now behind Hobart). In 2012 it had the second most expensive capital city house price (ahead of Melbourne) Will be interesting as to where Herron Todd White put Darwin houses in the investment clock when they issue their February month in review property report in early February (no January report). Has been at bottom of the market for many months now

    Property Report - Herron Todd White
     
    Ajax, 24th Jan, 2020
    #38
  19. Longrass

    Longrass Well-Known Member

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    Exciting times ahead this year. Election... FID on a few major projects, $110m in indigenous housing, US movement very shortly at Gunn point and Darwin airport, plus a major commonwealth department setting up shop shortly in Berrimah. Let’s see how it shapes up!
     
    Longrass, 24th Jan, 2020
    #39
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  20. Ajax

    Ajax Well-Known Member

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    Ajax, 26th Jan, 2020
    #40
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