NT PPOR Darwin

Hi all. Looking at buying another place. This one to live in.

Interested in people’s thoughts on the Parap,Ludmilla, Narrows, Coconut Grove areas.

Have the money to buy now but I think the market will drop even further.

Looking around the $450-$520 Mark I suppose. Potentially a bigger block with a granny flat if one comes up.

 

Hey Hey,

Most of Coconut Grove, Ludmilla and the Narrows go underwater in a storm surge. Which is pretty rare, but the insurance (10k pa) will kill you. Also lots of crime in those suburbs as well.

If you haven't already, download the Darwin storm surge map from here. I'd stay away from anything even close to the purple line as that line is only going to move further in as time goes on.

Good time to go shopping!

 

Ludmilla is a suburb with two distinct personalities- there's the part which adjoins Parap that's quite nice, and another which is pretty sketchy. Some parts of Coconut Grove have some of the nicest houses in Darwin, but it's surrounded by a sea of sketchiness...I assume the people who live there have state of the art security systems with CCTV etc

 

Thanks for the map. I hadn’t considered the higher insurance in these areas.

Do you think prices will continue to drop?
I love where I live now so I could hold off.

 

Yes your right on both points here. A dog or two is a must in most of these areas unfortunately these days.

My pick would be Parap but it’s pretty much outside my price range.

 

What would be your picks from the northern suburbs?
I’m thinking I may need to broaden my search.

 

Alawa is my pick at the moment. Cheap with access to CDU and Casuarina. It's also a safe area filled with families.

Should be able to find something nice around 420 there.

 

I'd find it hard to see anything rising here anytime soon.

It's hard to predict if things will drop further...it's already taken a helluva haircut..

 

There are quite a few properties around with granny flats.

Some granny flats are renting for $250-$350. Is it legal to rent these out in the territory?

Or would you just have to manage it yourself and go cash only etc

Could really help with mortgage repayments

 

I believe you can (but please check!).
Sounds like a great strategy!

 

My first post, been lurking for a while though.

16 Bald Circuit, Alawa, NT 0810

This place might suit you Darwin55. Maybe it'll go cheap considering the market and what hammer has said about foreclosures in Darwin.

 

G'day Hammer,
I am relatively new to Darwin, would love to catch up for a chat about the local market here. I am not particularly looking to buy although I am always looking to learn more about investing opportunities.
Cheers

 

Doubt it. That is exactly the kind of property that continues to do well in Darwin.

By well I mean still selling for over

Welcome @Danny N ! There are far smarter people than me on this forum. Looks like it might be time for another meetup.?

@Purple Patch @Darwin55

 

Cheers for the welcoming.

Definitely, if you have a meet up, I’d love to say g’day.

I’m not particularly smart either, and mostly invested in LICs/ETFs at this stage.

That said, would still enjoy chatting realestate & General Investing.

Have a good week, off to Alice for a week!

Cheers

 

Looks like it might be time for another meetup.?
@Purple Patch @Darwin55

I was just thinking that the other day.
Catch up at the Cav?

 

Next Wednesday? After work?

 

I personally will be in Maningrida unfortunately.
Friday’s are generally good, but otherwise carry on!

 

That place is close to what I’m after.

Possibly out of my price range though. I’m not interested in auction sales either.

I’ve made two offers on properties lately so here’s hoping I’m not far away from some action.

 

I wouldn't totally dismiss the auctions. That's where a lot of the bank sales are.

Congrats on getting close to a new and (very) discounted chateau!

 

Friday suits us for a catch up