Gday all,
I'm thinking of buying my first house in Palmerston, NT. Looking at a three to four bedroom place in Bakewell, Moulden, Gray, Woodroffe etc
I see that prices are slowing down and some places are dropping a heap off their initial asking prices.
Do you think it's a good time to be buying? I've heard whispers that Inpex will be kicking off so I take it IF there is an anouncement this will send prices up straight away???
Any other advice will be appreciatted.
Cheers,
Hi
Darwin has gone up150% in the last 7 yrs and now appears to be slowing. If you brought there it would be very negative geared so as long as that is your strategy. The positive for now is rental demand is still very strong.
To give you an idea I brought in Fairway Waters in Palmerston in DEC 2002 for 227,000, now 550,000, so does it have more growth?Have fun working it out
Barry
Gee you’re brave!
After all those years of capital growth, the Darwin market must be near it’s peak.Melb has had huge growth also +24% in a year or so.
Why not look at Sydney – was flat for years from 2003 until recently or Brisbane which seems to have some catching up to do.
I'm looking at Darwin because i want to live in the place… Very expensive for what you get for you money though.
Prices are dropping with plenty of people having to knock large sums off their asking prices. I'm not sure whether to wait a bit longer or not. There is the chance of the proposed 12 billion dollar gas plant project Inpex being announced which i gather will send prices back through the roof….
Decisions, Decisions….
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