looking at buying into darwin befor the train get,s into town.
any one know much about place.I’ve had an IP in Darwin for 5 years – capital growth has been hopeless compared to other regions – good opportunities for positive cashflow though as rents are high!!!
Friends have owned an inner city townhouse for past 8 years and hasn’t increased in value one cent!!! (where’s that old doubles every 7 years theory gone!?!?!)
They keep saying prices will start to move with hype of the railway/possible gas contracts, but they have been saying that for the past few years!!! My thoughts are that Darwin has been too overprices for too long and it’s just starting to correct now with prices staying stagnant.
So good opportunity for positive cashflow properties, but I’d say a bit risky if it’s capital growth you’re chasing!!!
Hi Ziggy2
We have had a rental property in Darwin for about 10 years after an initial capital gain Darwin has gone nowhere. We have had no problems renting our place but have had friends who have had their places vacant for months vacancy rate was very high approx. 15%.You do get good rental yeild. The real estate agent we use says that with all the new infrustructure they are expecting capital growth to occur in fact houses have already started. Look for large companies expanding up there or the defence force as they will pay the high rents needed to make your property positvely geared. Its a great place to live.
ErikaHi Ziggy,
I live in Darwin so drop me an email with any questions.
Cheers.
Hi Dram,
Since you live in Darwin, what are your thoughts on whats happening there..I was up there 3 weeks ago and think that the market is starting to move. Rent yields are good. I was looking at a block of units (6x2brm) in Casuarina and that day a investor from Brisbane flew up just to look at this block. So I think people are starting to look very hard at Darwin..
Cheers, Centralian.
Hi Ziggy,I live in Darwin so drop me an email with any questions.
Cheers.
thanks for all the replys ,i do think darwin is starting to move with the capital growth now ,i have been going up for about the last 5 years and just bruoght into a house in karama only about a 10 minute drive from the c.b.d on a good day.
we were showen a lot of houses out of town which i think whould be good for rental now but will take a while for capital growth. i may be wrong about my summing up of darwin but i hope not as i do plan to move up next year and hope to buy one or two more house,s. at least i will be warm all year round..
any one know a good builder in town as i plan to get some work done to the place soon ….[
][
]Hi.
People are starting to get excited up here. With the rail link on the way (only 90km south of Darwin now!) and the signing of the Gas Project Darwin is starting to move. The Chief Minister, Clair Martin, is forever talking up Darwin’s economic potential and according to her the Gas deal is just the start of bigger things to come.
If building construction is anything to go by then things are indeed looking rosey. There are at least a dozen appartment complexes being built in the city at the moment with more on the way. According to a few of the real estate agents I’ve spoken to they believe that the Unit market (in the City) is still in undersupply.
The following link is to an interview with Clair Martin on Darwins economic future. Worth a read…
http://www.propertyoz.com.au/data/info/magazine/info/0307/Northern%20Territory%20July%2003.htmCrime
In recent times, petty crime has increased. Break and enter and vandalism are growing problems, although they seems to be limited to the northern suburbs of Darwin and the older areas of Palmerston (a satlelite city. Juveniles are the main offenders.Employment
Unemployment is fairly steady and lower than the national average. The gas project, a new port under construction and a few other projects, unemployment is tipped to drop in the near future.Population Growth
According to the NT Government there are not enough skilled people in the Territory to construct and finally operate the Gas Facility. They are expecting a mini population “boom” in the near future. Defence personnel are also a large portion of the population. Most reside in DHA homes, but many single members gain rental assistance an live in the city.Tourism
Tourism is a big industry up here, especially fishing. There are a few tourism related developments under way such as serviced appartments, or lodge type accomodation to cater for the backpackers. (“Melaleuca on Mitchell” is the backpacker one)That’s all I can think of for now. If you want details on specific areas, or want me to have a look at a property for you (email photos, etc) just let me know.
Cheers.
Just anounced yesterday is another new development….$600M on a new Wharf precinct and convention center.
http://www.news.com.au/common/story_page/0,4057,6924730%255E13569,00.html
Dear All,
I try to find the median price in Darwin and surrounding suburbs to no available in http://www.homepriceguide.com.au
Has anyone get any ideas of how to get the median price in Darwin?
Your comments is appreciated?
Kind regards
Chandara
[Keep going, you’re nearly reach the end of financial freedom]Around $200k, with average rental for 3br house $240pw. API Magazine rarely shows any interest in the NT. Here’s some info….
June 2002… http://www.facs.gov.au/internet/facsinternet.nsf/VIA/HousingMSupdate/$File/June2002.pdf
New story… http://www.themercury.news.com.au/common/story_page/0,5936,6185494%255E421,00.html
A general Australia wide property report I found… http://www.htw.com.au/pages/info_centre/review/MR%20Mar%202003.pdf
REINT didn’t have much info.
Dram,
It’s you again who provided all the good info.
Many thanks
Kind regards
Chandara
[Keep going, you’re nearly reach the end of financial freedom]Dram,
Since you are a local in Darwin, will you be able to tell me the areas where I should be stay away from investing ie. crime….
Chandara
Kind regards
Chandara
[Keep going, you’re nearly reach the end of financial freedom]Sure, I’ll do some research and let you know. [
]Hi. Finally found some info on crime reates. Better late than never! [
]http://www.nt.gov.au/justice/ocp/pages/stats.shtml
Cheers
Hi Ziggy,I live in Darwin so drop me an email with any questions.
Cheers.
thanks for all the replys ,i do think darwin is starting to move with the capital growth now ,i have been going up for about the last 5 years and just bruoght into a house in karama only about a 10 minute drive from the c.b.d on a good day.
we were showen a lot of houses out of town which i think whould be good for rental now but will take a while for capital growth. i may be wrong about my summing up of darwin but i hope not as i do plan to move up next year and hope to buy one or two more house,s. at least i will be warm all year round..
any one know a good builder in town as i plan to get some work done to the place soon ….[][
]
Hi all, I have just bought a property in darwin (3bed/2bath) in houston street. everything that i have read here i have been able to confirm.
they expect a 6 percent population growth a year for the next 3 years (i cant remember where i read it i think it was BRW). I paid 210k for the unit and its fully furnished and rented at 285 a week which more than covers expenses.
as to finding out how much a place is worth i highly recommend visiting http://www.residex.com.au
and purchase the information you need.
any questions contact me [email protected]
hope this is of some help
Hi Ziggy,I live in Darwin so drop me an email with any questions.
Cheers.
thanks for all the replys ,i do think darwin is starting to move with the capital growth now ,i have been going up for about the last 5 years and just bruoght into a house in karama only about a 10 minute drive from the c.b.d on a good day.
we were showen a lot of houses out of town which i think whould be good for rental now but will take a while for capital growth. i may be wrong about my summing up of darwin but i hope not as i do plan to move up next year and hope to buy one or two more house,s. at least i will be warm all year round..
any one know a good builder in town as i plan to get some work done to the place soon ….[][
]G’day people..
I have been working in the NT for over 6 years now, and the last 2 years in Darwin.
I have no experience in investing, so I won’t try to give any advice on that. But….here’s what I DO know.Prices are very high in Darwin, supposedly due to costs of freight, and cyclone-standard building. And yes, prices have been very constant. As a result, a crappy 1 bedroom flat in a crappy area will cost no less that $60,000. A similar type house, 3 bedroom will cost no less than $140,000. Not sure of rent prices, but I don’t think it’s high enough for positive cash flow….but don’t quote me on that.
Crime is high. (Trust me on that.) Highest rate of violent crime in the Nation. Someone posted before that the majority is juveniles. No it isn’t…(again, trust me). 12 months ago house-breaks were very high every single night, but it has dropped dramatically. I can’t say if it will stay that way.
The defence population is very high, with a lot of single soldiers living off-base. Palmerston seems to have the largest population of Defence personnel. Government population is also very high….Darwin used to be a city of Government workers initially.
There is a LARGE population of unemployed people, who will never even attempt to find work.
Housing commission residences are spread pretty evenly all over Darwin and Palmerston, with very few suburbs being known as a “nice place to live”. I also know that some of these people are very transient, and will make no effort to look after the housing that is supplied to them.The wet season starts in October, and as a result it becomes VERY humid. One thing that MAY affect house prices during that time is if a place has air-con. If not, then you may get a good deal. But to get decent rent, you should consider installing air-con. (Again, I’m no expert).
Here’s something most of you may not know. One of the conditions of employment for NT Police Officers is free housing. Single officers are supplied with barracks (1 bedroom) accomodation. Couples are supplied with 2 bedroom flats. Families with houses.
Traditionally this accomodation was supplied by the Housing Commission. If none were available then the Department would rent property OR supply the members with rental assistance. If members have their own accomodation, then they are given a housing allowance.
As a result of a very recent review into the NT Police Force, the Government agreed to increase the standard of housing above that of Housing Commission standard. I’m not sure what the plan is, but the NT Police MAY be looking for a higher standard of housing to rent/lease in the next couple of years.
There is a lot of residential development on the outskirts of Palmerston, plus quite a few recently completed Apartments in or near the CBD.
(FYI – Palmerston is a city approx 20 min drive from the Darwin CBD. Like Ipswich for Brisbane.)
If anyone is looking at a place up here, and you know the street name, list it here, and I’ll let you know it’s reputation.
Hope this was of some help. If so, remember my name because I will be asking for a lot of advice in the not-too-distant future.[
]Cheers all
DougInteresting post, Doug.
I have an IP in Darwin – Stuart Park. I lived up there for 7 years before moving to Tassie 6 years ago.
What you’ve described crime-wise sounds a bit dramatic. Maybe I’ve been gone too long but when I was there I never experienced the high crime rate type views that I’m hearing here.
Sure there were the break-ins and thefts that you get anywhere else but I still keep an eye on the news up there and even then don’t get the impression that it’s any worse than anywhere else.
I could just be disappointed that what you’re suggesting is true as I’m intending to head back there in two years. Then again, distance does make the heart grow fonder.
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Housing commission residences are spread pretty evenly all over Darwin and Palmerston, with very few suburbs being known as a “nice place to live”. I also know that some of these people are very transient, and will make no effort to look after the housing that is supplied to them.
The topic ‘darwin’ is closed to new replies.
