Just did a check on the market, seems like another downward pressure, what was 490k last year is 420k now, and yield is about 6%... Good buy or stay away?
A lot of people are leaving with the completion of the Inpex project. I would wait till the dust settles in 1-2 years. Also there is plenty of land releases in the middle to outer of darwin and Palmerston. If I was to buy I would buy older established like Fannie bay, parap, larrakeyah. The yield is not 6% there.
For investment....a bit too risky right now. Unless you really know your stuff. For a PPOR...it's never been better! Dive right in!
Here is a round up of property news for Darwin July 2018 The dry season charges on with the Darwin Cup having run it's race and Darwin Festival upon us. Dry season fires are wreaking havoc in the rural area and Pitch Black is roaring out over the airport suburbs. 31/07/2018 - Tuesday First gas from Ichthys Gas Field off shore of Darwin. 29/07/2018 - Sunday Cyclone Marcus Insurance claims hit $61m. 27/07/2018 - Friday Exceptional development application to sub divide a house block in Nightcliff. Occasionally investors need to sell their DHA investment property, when this happens the property is sold with the lease in place. This means the buyer of the property agrees to the conditions outlined in the existing lease agreement and transfers their name onto the lease. Read more Buy and sell a DHA Mid-lease property Pomelos leave Darwin for Melbourne, under strict new citrus canker protocol. NT citrus allowed to be sold interstate again 22/07/2018 - Sunday NT Tennis Complex officially opened at Marrara. Prime Minister visits Tennant Creek. 24/07/2018 - Tuesday Today, the Mortgage Broking Industry Group* (MBIG) has launched The Value of Mortgage Broking, a report by Deloitte Access Economics. https://www.mfaa.com.au/sites/default/files/users/user133/_Value_of_mort... 20/07/2018 - Friday Gas Pipeline between Tennant Creek and Mt Isa complete. Northern Gas Pipeline - Jemena 18/07/2018 - Wednesday $12m in tenders for road surfacing in and around Alice Springs. 13/07/2018 - Friday Moody's ratings keeps NT rating steady but changes outlook to negative. Tennant Creek gets a $1:45m street scape facelift. 12/07/2018 - Thursday $200m Chinese luxury hotel gets go ahead at Darwin waterfront. 11/07/2018 - Wednesday Optus to upgrade multiple mobile phone towers across the Territory. Look up your locations here: Radio Frequency National Site Archive 09/07/2018 - Monday Re announcement or rural roads funding, $40m on Buntine Highway, $25m Plenty Highway, $77.9m Arnhem Highway, $62.2m Stuart Highway to Mt Bundy. 08/07/2018 - Sunday A concept picture of CDU campus building on Post Office car park in Darwin CBD released to press. Uni Students in the City - Revitalising Darwin CBD 07/07/2018 - Saturday Darwin construction company Sunbuild was awarded the $15.9 million tender last week to construct the Science, Technology, Engineering, Arts and Mathematics (STEAM) Centre. 04/07/2018 - Wednesday Ammaroo Phosphate Project has gained Federal Government approval. $25m BP Truck Stop to be built close to Tiger Brennan Drive. Adjacent will be a heavy vehicle inspection facility. $7.3m in public housing awarded for Alice Springs. $8.5m awarded for a new fire station in Katherine East. AAM Investment Group looks to net Legune cattle station after striking deal with mega-prawn project. AAM Investment Group looks to net Legune Station 03/07/2018 - Tuesday Two Larrakeyah defense projects get final approval, $500m Larrakeyah Barracks Redevelopment Project : Department of Defence Unleaded Petrol hits $1.59L. 02/07/2018 - Monday The derelict and vacant property tax kicks in 1 July 2018. Regards Nick
Seems to be conflicting data coming out Core Logic Monthly Property Update | CoreLogic is Darwin is still heading backwards, whereas real estate .com published a price turnaround. I spoke with a real estate agent yesterday who told me council will be reducing land values for their rates notices too.
