North Australian FISH FINDER TM forums

http://www.ntnews.com.au/realestate/dar ... 5b4b59ebba

Is Darwin real estate falling? Or this is just a blip?

The bubble has burst but not as bad as they make it sound and let's face it was bound to happen. Its not really an issue for those thinking long term home or long term investment. Only those in the past two years thinking quick buck or short stop. Those who brought ten years or more are laughing, those who brought five years or more will still be ahead and will stay that way. It will only drop so far being a city in a remote area people have to live somewhere, there still heaps of work and defence bases which aren't going anywhere. A certain company did exactly what many predicted it would do to the market (other than the real estate agents). That certain company were always very open about there timeline, numbers they would employ and how many would be required to maintain once construction was complete. To be honest it probably won't even drop for some people maybe just plateau out for a while.

That my view coming from a bloke who spends his money on fuel and plane tickets.

Yeah it had to drop. its been way overpriced for a while and now that the mining bubble has burst, so too will the RE prices
There is a saying in real estate - bigger fool. it means that you hope a bigger fool will pay more than when you bought as the bigger fool

I have been extremely lucky over the years. House blocks next to one of the first blocks of land i bought, nearly quadrupled in 3 months. If only i had a crystal ball and bought up the whole street.

I feel sorry for anyone who bought recently with the aim of selling soon to make a $

Ben Jam wrote:The bubble has burst but not as bad as they make it sound and let's face it was bound to happen. Its not really an issue for those thinking long term home or long term investment. Only those in the past two years thinking quick buck or short stop. Those who brought ten years or more are laughing, those who brought five years or more will still be ahead and will stay that way. It will only drop so far being a city in a remote area people have to live somewhere, there still heaps of work and defence bases which aren't going anywhere. A certain company did exactly what many predicted it would do to the market (other than the real estate agents). That certain company were always very open about there timeline, numbers they would employ and how many would be required to maintain once construction was complete. To be honest it probably won't even drop for some people maybe just plateau out for a while.

That my view coming from a bloke who spends his money on fuel and plane tickets.

+1


Was at that place last week and the staff numbers are about to double soon.

The bubble will burst a little more soon everywhere just look whats going on with the EURO ,oil and iron ore.

We just sold one of our investment propertys and was surprised how high it went for when everyone is saying things are dropping......!?
Just gotta be lucky finding the right buyer i guess.... Ka'ching $$$

I have been follow the market for over 4 month's (in darwin). Yep short but enough to follow up here.
I have watch house properties in certain areas (where I have been looking)and the trend has been the average sale price is give or take $50,000 BELOW the asking/1st advertised price.
And I think it still dropping. Yes a few place are still getting fair $$ but over average I do thinking it will drop some more before it settles.

Hemi wrote:We just sold one of our investment propertys and was surprised how high it went for when everyone is saying things are dropping......!?
Just gotta be lucky finding the right buyer i guess.... Ka'ching $$$

Your one property sold does not represent the 100+ that are currently on the market.

Ben Jam wrote:

Hemi wrote:We just sold one of our investment propertys and was surprised how high it went for when everyone is saying things are dropping......!?
Just gotta be lucky finding the right buyer i guess.... Ka'ching $$$

Your one property sold does not represent the 100+ that are currently on the market.

It represents a poop load of money in my pocket mate, that's all I care about!

Of course its dropping because I bought last year at the peak.

Till wrote:Of course its dropping because I bought last year at the peak.

That's no real loss if you plan on keeping the house for long term.
I'm still hoping it going to drop a little more. I think the price have become unrealistic. When people start paying 40 odd % just on a house loan things start to became unaffordable.

Its not just happening here
http://www.ntnews.com.au/news/house-pri ... 7290490188

Darwin might be a good place to buy in 6mths when the prices drop to where they should be

It's a good place to buy now....?!!!

Can't believe people are still renting...?!
Buy now wether you plan on staying or not.. Therell be another major gas project in about 6 years..

Hemi wrote:It's a good place to buy now....?!!!

Can't believe people are still renting...?!
Buy now wether you plan on staying or not.. Therell be another major gas project in about 6 years..

I agree, short slump but darwin still has a lot of investment and growth left in it.

More votes saying prices aren't going down, the news report must be wrong ...

Ive been investing in darwin since 99'.... Never seen prices drop.!?

Dickhead RE agents up here are the problem... Latest house we bought
we got for 100k under the asking price.!! We ended up doing a private deal, both parties very happy...!
Last place we sold recently, we sold it privately too. You can stick agents in my opinion.