Are Darwin real estate prices falling?

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Are Darwin real estate prices falling?

Yes
34
54%
No
29
46%
 
Total votes: 63

john d
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Re: Are Darwin real estate prices falling?

Post by john d »

Bought a house late last year.
I was watching the prices for about 9 months as my daughter was buying and in that time saw the prices of some property's go to a realistic price.
Picked up a bargain in Leanyer
There are some over priced houses around but also some good bargains if you hunt around and are on the spot.
Not an investment property as my unit which I bought 7 yrs ago is now.
So sitting on it for 10 to 15 yrs will see the value go in the right direction.
Know a few people who have bought as investment in the last few years and are a bit worried at the moment especially the ones who bought units off the plan.


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Re: Are Darwin real estate prices falling?

Post by Fish Tank »

My prediction is that unit price will fall big time as supply has out stripped demand. Houses will stall for a few years and then continue to rise. Particulary houses in Darwin will not drop too far before the next rise. Only a limited amount of land in Darwin and thats where people want to be. Palmerston and the new suburbs will stagnate for a lot longer before the next rise.
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Agent86
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Re: Are Darwin real estate prices falling?

Post by Agent86 »

Been looking for a house in the rural area for 12 months
Finally got one, it came down in price by over 100k though.

Don't think there will be too much more downward trend

Good time to buy I think with interest rates low and probably falling again soon :-)
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Matt Flynn
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Re: Are Darwin real estate prices falling?

Post by Matt Flynn »

Interesting times. Hard to say what will happen.
ken_dog
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Re: Are Darwin real estate prices falling?

Post by ken_dog »

Which suburb you end up in 86?
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STANDY
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Re: Are Darwin real estate prices falling?

Post by STANDY »

Just buy in Tassie cheap as chips at the moment.....
A Fish in the Boat is Worth Five in the Shop.
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Matt Flynn
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Re: Are Darwin real estate prices falling?

Post by Matt Flynn »

But no barra ...
ronje
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Re: Are Darwin real estate prices falling?

Post by ronje »

And crook neighbours
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Re: Are Darwin real estate prices falling?

Post by nomad »

Its not much arguing the point. The simple fact is that they are falling across the board by 6.8%
. sure some will make a profit but its falling here - all other capitals are rising. It had to happen, prices are way over the top
http://www.propertyobserver.com.au/find ... r-apm.html
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Matt Flynn
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Re: Are Darwin real estate prices falling?

Post by Matt Flynn »

And crook neighbours
Doesn't usually matter when you can't see them :D

Pretty good mob here.

Re Darwin, business cycles go up and down ... http://www.propertyobserver.com.au/find ... opher.html

Will probably go up again when another big project is announced. But is that what the average Darwin person wants?

The recent boom made it hard for a lot of people.

Tourists were having trouble getting affordable accommodation, which would affect tourism businesses etc.

Be interesting to see how it pans out.

Also interesting that there are 20+ votes saying prices aren't falling - misguided votes? Or spruikers?
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Re: Are Darwin real estate prices falling?

Post by luke79 »

There are too many variables to simply say prices are rising or falling unless they are moving on a dramatic scale, as a result the data is often skewed, twisted and ultimately inaccurate. It would appear prices are flat lining, in some cases dipping but it's all dependant on what you're comparing to, give it time and the overall trend will be upwards.

Without a doubt a boom and bust economy is far too fragile to be comfortable with. Consistent, sustainable and predictable growth should be the ideal base, throw in some ebbs and flows of projects and things will be good.
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Re: Are Darwin real estate prices falling?

Post by Agent86 »

ken_dog wrote:Which suburb you end up in 86?
Hi ken dog

Ended up in Humpty Doo mate

Nice little place on 6 acres

Just gotta build a shed and a fishing room :-)

There will always be ups and downs in real estate prices, however houses aren't valued daily like the stock markets or bonds etc, so it is much harder to see the relevant prices, has to be someone wanting to sell and someone wanting to buy, the price is almost always negotiable.
If there is water and it holds fish, then it is fun trying to fool them into eating what you offer!!

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Re: Are Darwin real estate prices falling?

Post by nomad »

ive never bought a property where the owners werent up for negotiations. everyone puts an overpriced cost on it so they have room to move. I hate it when you sell a house within a week of putting it on the market. makes you think that you sold it too cheaply :D

there are heaps of rentals available here as well.
major mining companies are dumping staff by the hundreds. People arent going to hang around here if they dont have the income to support themselves, either rentals or outright purchases.
the 6,8% drop is the reality of the overpriced market here.
remember that for less than the average price here, you can get an established home in most capital cities in very good suburbs down south.
they are a much better option for the investor than the boom/bust town that is Darwin
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Re: Are Darwin real estate prices falling?

Post by slug »

nomad wrote:remember that for less than the average price here, you can get an established home in most capital cities in very good suburbs down south.
they are a much better option for the investor than the boom/bust town that is Darwin
I'd have to disagree with that. I've been investing in real estate for 25 odd years and consistently my Darwin properties (both houses & units) out perform the couple
of properties I own in southern states. I currently average in excess of 6% return on my local properties (admittedly down from the heady 8+% being achieved in the late 90's),
but struggle to yield 5% on southern properties.
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Re: Are Darwin real estate prices falling?

Post by nomad »

Port headland prices fall dramatically, is darwin next?
http://www.ntnews.com.au/news/the-13m-h ... fd6d0dac1d
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