Dear investors,
Darwin seems to be the pick of the Australian markets at the moment.
NSW-Flat/falling
Qld-growing but a potential blood bath
VIC-flat/falling
WA-growing
SA-Flat
Tas-passed
NT-Growing at a high rateGlad everyone is in agreeance on the state of the market. Darwin is your best bet!
Don’t know that I agree necessarily as you have oversimplified. There are markets within markets, so while you may have the impression that Sydney is flat it isn’t necessarily true for all areas.
What is your assessment based upon? Personally NT would be an area that doesn’t interest me – is there anyhting apart from investor specualtion to drive the growth?
Your right it was a little broad. I hold properties in most states, Darwin just seems to be performing the best at the moment. I sold out of Sydney mid 2003 and am currently in a bit of a wait and see phase. What are you doing?
Is there anything except southern investors buying sight unseen over the internet driving this market?
Not that I can see/hear.
Negative population growth
Government that has done nothing for 3 years. Countless empty shops and offices in the middle of town. Countless developments going up all over town. Highest rate of murders/sexual assaults per capita in Australia.
Oh but the fishing, you wouldnt believe the fishing.
Regards,
Brent[biggrin]
Originally posted by brent2:Is there anything except southern investors buying sight unseen over the internet driving this market?
Not that I can see/hear.
Negative population growth
Government that has done nothing for 3 years. Countless empty shops and offices in the middle of town. Countless developments going up all over town. Highest rate of murders/sexual assaults per capita in Australia.
Oh but the fishing, you wouldnt believe the fishing.
Regards,
Brent[biggrin]
ROFL I agree with you Brent..I was there a few months back on holidays…wont get me buying there. But before I ACTUALLY went to Darwin it looked like an attractive proposition to invest, if you beleive what you see on the net.
As far as Im aware population is in decline??
Nothing beats pounding the pavement yourself..
You both make some valid points. I’ve been to Darwin several times over the years and in the past your concerns rang true, hence I didn’t invest there. However at present the government is pouring money into infrastructure, the new train line is up and running and the region is becoming the gateway to Asian trade. Each to there own I guess, but I saw it as a way of getting into a very cheap market which was on the verge of growth.
Originally posted by Yorker:Your right it was a little broad. I hold properties in most states, Darwin just seems to be performing the best at the moment. I sold out of Sydney mid 2003 and am currently in a bit of a wait and see phase. What are you doing?
Hi Yorker – buying sparingly in areas I know at the moment. Looking at selling several specualtive buys of blocks of land in Hobart soon.
Hi
Interesting thoughts and experiences listed here.
Bectel ( Gas Plant ) and Defence movements have driven the rental market to a very low vacancy rate.
Most agents i have recently spoke with report “no vacant” properties to a rate of 2%. Darwin City and casuarina areas a higher vacancy rate.Still inner city unit developments that i have already voiced my opinion on previously.[baaa]
The market stats arent always clear and readily avail on the net as they are with other stats.
The NT has markets within markets. My ground sources tell me its very “patchy”.
The Govt has introduced a loan limit to $240,000 from limit of $180,000 in its Home North loans and I believe this is what has driven some pricing upwards.Overall a crystal ball on long term sustainablity.
Prices are lower here than other states and like with Tassie will attract investors for this reason.You need a real on ball good PM. Tenancy occupancy periods are short- 6-12 months tturnovers are common, thers a shortage of tradespersons and so repair costs are quite high.
[biggrin]But i still love my Darwin and wouldnt live anywhere else just now.
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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