NT Signs of Life in Darwin...

I think the Pilbara has some very interesting investment prospects now as well

 

Had a while lot of bad news this week....

The NT got boned with its gst allocation...

The population growth is absolutely anaemic and a house in the best part of town went up for rent at $350 per week.

I'm still seeing a drop in listing despite all of this...

Interesting times. Fastening seat belts.....

 

The listings are still dropping! In Darwin proper listings are now down 25 percent year on year. Unbelievable!

Palmerston is going the other way...and keeping the Darwin stats scary.

It's still bad news and tough times up here...but people are now clearly buying in the northern suburbs. The evidence is pretty much irrefutable now.

There's not an investor to be seen within cooee, but the locals are cracking open the champ ..I mean slabs of beer and buying.

 

Thanks hammer. We might buy later in the year. Love Darwin and love Larrakeyah. I'll see if we can get a good tropical house for under a mil near the school. I think it's a pretty good time to buy.

 

I think that is easily achievable! You can buy all sorts of awesome for that kind of money now.

You still might have to wait a bit though..or start keeping your eyes peeled now. Houses in Larrakeyah are hard to come by...even in this market.

Glad to hear you're loving Darwin.

 

How will the Berrimah farm land release affect the NT? Can't be good for the Palmerston market?

 

It's hard to say? Rough timing for a new land release.....

 

Another friend just bought a bargain for his first place. He has nailed it out of the gates and has set himself up. His repayments are far less than his rent. It was a total no-brainer.

There is much happiness amongst the pain.

 

Latest update from Herron todd White...Tom Barker. These guy's assessments have been pretty much on the money. It totally reflects what I've been seeing on the ground here.

http://www.ntnews.com.au/business/d...s/news-story/aa8fb149ce6c5e7aa8887b4620958e5b

 

There are some great buys around at the moment.

Still can't understand why they are building up Berrimah farm. Vacancy rates are high and will be even higher once inpex gets closer to completion.

 

Vacancy rates continue to drop...sorta...kinda. I think it's down to 3.2 percent....still not exactly outstanding, but beats the 5 percent we were seeing before.

What is of interest is that vacancies in Darwin now are apparently less than Brisbane. That's according to sqm anyways. I'll want to see stats from a few more organisations before I believe it.

Anyway if this was any other market you could call this the start of a recovery. Hard to say though as Darwin is so volatile and Inpex is still hanging around like a bad smell.

It does however give some of the Brissie hype a little perspective.

 

Cousin bought an OTP two bedder in cavanagh st four years ago at 570k, how much is it worth now?

 

A lot less than 570k ...Four years ago was peak crazy.

 

I saw many other buildings two new bedders sold at 450k or even less, is that so bad? Or could it be dependent on buildings?

 

It's that bad. I'm sorry for your cousin.

 

43/9 Carey Street, Darwin City, NT 0800 - Property Details

Looks like a bargain!

 

Untill you look at the body corp.....

 

Oh ya!!! Recall Darwin has crazy body corporate!! Lol

 

Not everywhere... low rise units can expect to pay 4k pa. That seems a lot until you realise that it includes insurance and water...not much different from owning a house up here.

High rise though are absolutely nuts. $200 per week just in body corporate costs. And that's a cheap one.....

 

And yet another friend has gone in.

4br house for 350k! They've been renting for years and didn't think a unit, let alone a whole house would ever be an option.

They've just knocked it out of the park.

I'm doing a happy dance for them as I type this.