NT Why do people still think that Darwin is expensive?

On any Facebook page or community forum up here you'll see locals complaining about the price of property.

Whilst the asking prices are indeed generally high. The selling prices are not. Reasonable houses in reasonable areas are now available for 420k. 2br villas are available for under 300k and I've seen them go for 250k.

2br walk ups in the northern suburbs are now 200-220k...

Obviously if you want the nice house in the best area...you're going to pay...like anywhere.

But why all the whinging? Is this expensive? Maybe my barometer of what is cheap and expensive is all out of whack?

If unemployment was high, maybe I'd get it. But it's at 3.5%....

 

Not much else to do but whinge up there?

 

There is always a natural case that people will complain about things which require them to exert effort. In the case of the price of property 99% of the time in what is really an affordable area, it's not to do with affordability as they can afford the repayments just like they can also afford their 2x personal loans, car loan and 30k in credit cards - but one type of finance is easy to get and other requires them to make an effort over period of greater than hours.

No point wasting your time on it - just focus on the important things which provide value to your life.

 

Negativity can go overboard during a correction. People turn on the market with the same sort of irrationality that drove the market too high in the first place. Sounds like it's returned to reasonable value, so maybe people are being fearful over nothing.

 

It's not a case of them being fearful, they genuinely believe that property prices are just too high. A few years ago, I would have (and did) agree. But now?

I suspect it's a deep psychological thing...either people need something to complain about or they're so busy complaining since 4 years ago they have failed to see what has changed?

Merely theories....what about Perth, and NQ? Do non property people think these places are too expensive as well?

 

Not what I hear about the price of homes in Darwin in the current environment.
That being said what you get for your money still does not match a location that is not 3000 km from a brick factory or a steel mill. We have heavy duty cyclone build rules also which drive the cost up.

 

Er I don't quite understand your post. You think its expensive?

 

A lot will I suspect seek to offer a bit more and rather go for GC, Adelaide, maybe even the outer areas of Brisbane. Darwin probably finds it tough to compete for investment housing sales $ against some of these. It's partly abouy price, but just as much about location.