Is it just me or is everything in Darwin sold or under offer ? Has the market remained strong or is it just my limited research indicating there is very little supply on the market ?
There is very little supply in Darwin. The market is VERY strong in the under $400,000 bracket. There is pretty much nothing under $300,000 and that included crappy units in dodgy areas. A few years ago, properties in Palmerston were worth far less than Darwin properties, but that seems to have disappeared.
The rental market is very strong and the yields are good. I think that a lot of investors are holding on to their properties to see what happens with Inpex.
If you see something for under $300,000, grab it. Just a tip though. Avoid Nation Cres in Coconut Grove. Or get an independent valuation at least. Some of the blocks of units there are ghettos.
Cheers
K
Im no expert on darwin but my research indicates that darwin in general is high risk, Values currently have held steady and there has been increases recently despite a huge surge in prices over the last few years. There is alot of development coming on line around the foreshore likely to lead to oversupply while the economic fundimentals are declining for further growth.
Just did a search on houses in Gunn (a suburb in Palmerston area). Many are under contract/ under offer
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