Cheap suburbs, 25Kms from Darwin
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I lived in Darwin for many years. I cannot recall a time when it ever felt ultra cheap.
In 1991, a friend told me to buy in Palmerston, a new suburb. Houses cost around $80,000. I dismissed the idea at the time as I was told that the area was full of bogans.
Now for the whopper that got away:
That same year, 1991, I attended a bank auction on Mitchell St (central darwin). The house was on 2000sqm and sold for what seemed to be a large sum of money - $150,000. Would be worth (at least) over $2m today, possibly more. Definitely regret not taking this one. Oh the mistakes we make in life.....
In 1991, a friend told me to buy in Palmerston, a new suburb. Houses cost around $80,000. I dismissed the idea at the time as I was told that the area was full of bogans.
Now for the whopper that got away:
That same year, 1991, I attended a bank auction on Mitchell St (central darwin). The house was on 2000sqm and sold for what seemed to be a large sum of money - $150,000. Would be worth (at least) over $2m today, possibly more. Definitely regret not taking this one. Oh the mistakes we make in life.....
Do you know how to use RE.com?
I would look at houses around palmerston avoid moulden though to much hc and trouble at night while prices are pretty high you can still find bargains vacancy are low rents are high in few years time once they open hospital and new and bigger shopping centre it will be a more established city plus all the work with the 2 gas plants and detention centres still room for growth think Darwin also has highest employed percentage per capital plus palmerston is 20 minutes from city and 25 from northern suburbs
Thanks Longgrass,
Yeah Mate, looking for a IP ...
I can keep it for few years, if I lock my rates... And preferred range is 300 - 430K..
If you know gud suburbs let me know pls.
thanks
Thing is though, if you go down the path OTP houses, atm the market isn't saturated but once johnston, zuccoli and bellmack have completed you would have more houses on market then demand needed, it's already insane amount for rent's as it is, something gotta give soon, and with workers coming FIFO they have the workers camp and other accomdations for them. I don't see the rent's sustaining that high once inpex has peaked, lands atm are insanely expensive, and houses prices aren't helping cause the high cost of labour in NT.
Everyone I know that lives in Darwin refers to this area as 'Palmer-slum'.
I've been there though and didn't think it was that bad. There seems to be a lot of Defence Housing around the area.
It is known that since the past but last 5-10 years palmerston has had drastic change there just as much crime rate now in northern suburbs since young families are priced out of older suburbs more and more move out to palmerston plus new hospital and shopping centre in few years
I've had no problems with renting or crime in Moulden over the last 5 years and it has seen growth in line with surrounding Palmerston suburbs. I haven't ventured far past the northern area of the suburb (close to the Palmerston Senior College and Aquatic Centre) though. The public housing will continue to be sold off as they get destroyed or burnt out as a few have been lately.
http://www.realestate.com.au/property-house-nt-moulden-114647799
The lower end of the NT market in general has been impacted by the Govt changing the first home owners scheme recently which is now targeting new build projects - to generate more activity in the new suburbs. As a result it seems to me that existing stock is on the market longer.
http://www.realestate.com.au/property-house-nt-moulden-114647799
The lower end of the NT market in general has been impacted by the Govt changing the first home owners scheme recently which is now targeting new build projects - to generate more activity in the new suburbs. As a result it seems to me that existing stock is on the market longer.
Crime rate in NT
tbh with crime rate in NT is funny as a whole, the newer suburbs of Lyons and Muirhead get targetted frequently with break in's and vandalism, plus the newer suburbs in palmerston, in a whole I get put off by open gate community suburbs in Darwin, especially in palmerston. Yeah, some good bargains to be had from some of those old ex housing comission houses if it add's up right. It's a shame though that the government has removed first home buyers from existing housing, as the new land and house packages up here are ridiculous 300sqm 4 bed 2 bathroom at 550k minimum, so much for vast land up in NT lol
tbh with crime rate in NT is funny as a whole, the newer suburbs of Lyons and Muirhead get targetted frequently with break in's and vandalism, plus the newer suburbs in palmerston, in a whole I get put off by open gate community suburbs in Darwin, especially in palmerston. Yeah, some good bargains to be had from some of those old ex housing comission houses if it add's up right. It's a shame though that the government has removed first home buyers from existing housing, as the new land and house packages up here are ridiculous 300sqm 4 bed 2 bathroom at 550k minimum, so much for vast land up in NT lol
Palmerston is actually a City, kind of like Ipswich is to Brisbane.....
The new suburbs are all $600k plus
I don't think saturation is an issue at all.
1) Bellamack is now finished, Johnston is owned almost entirely by Builders, J Ridge and Zuccoli is now stagnating due to overpriced land (prices will retract for off the plan land and it will fire again, talking sub $300k for the next release) but what has been bought is going bazerk, Durack Heights continues to sell out, as is Muirehead.
They can't build the land quick enough to meet demand! BMD run everything and are doing all the developments, every development is at least 6 months behind in each stage.... No problems here mate!
Along with the current land releases... they are looking at another release in Palmerston - Maluka Views http://newsroom.nt.gov.au/index.cfm?fuseaction=viewRelease&id=11353&d=5
And... there are around 1000 new units going up in the city at the moment! Crazy.
Anyone have any views about whether the proposed NT Govt rental assistance for key workers will impact the rental market? 30% rental subsidy for essential workers..
http://newsroom.nt.gov.au/index.cfm?fuseaction=viewRelease&id=11325&d=5
And... there are around 1000 new units going up in the city at the moment! Crazy.
Anyone have any views about whether the proposed NT Govt rental assistance for key workers will impact the rental market? 30% rental subsidy for essential workers..
http://newsroom.nt.gov.au/index.cfm?fuseaction=viewRelease&id=11325&d=5
Aren't all those planned be more like units and apartments as there are limitation and restrictions houses will still be in demand though I can't say same for apartments and units to many already in palmerston and with more traffic I wouldn't wanna drive from coolinga during peak will be nice one the palmerston hospital and shopping complex start construction
I think the Northern Suburbs of Darwin is still a good area to purchase in.. There are some nice ex housing commission houses in some of the suburbs that are not too bad in price and would be a good investment.
Alawa, Jingili, Millner, Rapid Creek, Moil are not too bad as a suburb.. Tiwi and Nakara have some nice ex ground level homes and close to hospital, schools and beaches..
I would stay away from Karama..
Palmerston, have good pockets of within the suburbs others are bad housing commisson tenants.. not saying all housing commission tenants are bad.. Most Darwinites started out as of their tenants and then purchased their properties.
just my thoughts, my home town
Alawa, Jingili, Millner, Rapid Creek, Moil are not too bad as a suburb.. Tiwi and Nakara have some nice ex ground level homes and close to hospital, schools and beaches..
I would stay away from Karama..
Palmerston, have good pockets of within the suburbs others are bad housing commisson tenants.. not saying all housing commission tenants are bad.. Most Darwinites started out as of their tenants and then purchased their properties.
just my thoughts, my home town
Just look at the price gap between the northern suburbs and palmo... developers have gotten greedy, but the brakes have come on. Next releases of JR and Zuccoli will be cheaper I think... I have a stack of house and land packages that I am going to market with my REA, around the $650-699K mark, fairly good buying considering the price seems to be around $720ish at present. I can see the majority of houses sold in the new suburbs from Christmas onwards will be over $700K
