Am looking at a deal in Darwin at the moment. I think the market still has plenty of growth in it. Thoughts?
Yorker – try a search on the forum, this was asked a while ago. You might find some info worthwile.
Cheers
“Looking forward to the day when I can tell the boss where to go”
Tried that. Looking for some more current information.
I have lived in Darwin for nearly 28 years. I have been investing in the Darwin market since 1998. The market did nothing really for most of those years. It has really started to move in Darwin in about the last 15 months. I am not personally looking to invest in any more property in Darwin. I think that the prices have shifted to far. I still keep an active eye on the market, however at the present moment everything I look at does even cover the interest payments.
I am also concerned about the large number of apartment blocks that are being built in the darwin cbd. There has been talk about southern investors buying off the plan. I do not feel that this large number can continue long term, unless we have a significant population boost to the Territory.
I am personally looking elsewhere. Yes returns are still better than probably most of the places down south eg. some properties are yielding 6.5% still, however this does not cover the interest as mentioned previously. I also feel that there may not be much more capital growth instore, unless things change. The market has remained steady price wise since about Feb 04.
The CBD apartment cycle is no different to that experienced in the major cities. In fact theres a hot cake iissue of the “escape of stamp duty” avoidance in “buy off the plan”.
Agree population does not support such an investment. But then what else will fill the vacant lots ??? Maybe Jenmans thoughts on following the lots??? Me thinks so !!
I get real concerned when r/e agents tell me about the no of interstate enquiries they are experiencing for units. They do seem cheap compared to southern prices. But we know the costs and risks. Try and find an electrician within a fortnight to fix something at a reasonable rate. Or if you can even find one… or one that can at least return your call..then theres the tenancy turnover rate…[baaa]
Love the place i live in… but you need local knowledge.. things look good on paper but its more than buyer beware to choose the right investment.[baaa]
Regards
“Do not follow where the path may lead. Go instead where there is no path and leave a trail” Ralph Waldo Emerson
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