Darwin property-efffect of Inpex deal?
- Thread starter Ajax
- Start date
Hi there,
I'm not too sure of the effect that it would have on Darwin property, but I can say that vacancy rates are very low here at the moment and yields are increasing. My wife works as a PM up here and she said that prospective tenants are frequently offering more rent than what is advertised to secure a place. Any major infrastrucure works would only be a good thing for the city, and plus, it's a nice place to live
Phil
I'm not too sure of the effect that it would have on Darwin property, but I can say that vacancy rates are very low here at the moment and yields are increasing. My wife works as a PM up here and she said that prospective tenants are frequently offering more rent than what is advertised to secure a place. Any major infrastrucure works would only be a good thing for the city, and plus, it's a nice place to live
Phil
Hi Phil,
I like Darwin as well but I have not been there during the wet (hear they call it troppo season). I find it a far more relaxing place to be than Sydney. I just put the rents up by $90/week on a 3 bedroom cottage in Palmerston. Had a lot of interest in the property.
I think this Inpex deal if it comes off will be a huge win for Darwin.
I like Darwin as well but I have not been there during the wet (hear they call it troppo season). I find it a far more relaxing place to be than Sydney. I just put the rents up by $90/week on a 3 bedroom cottage in Palmerston. Had a lot of interest in the property.
I think this Inpex deal if it comes off will be a huge win for Darwin.
Hi Ajax,
The wet season is nice too in its own way. Afternoon / evening showers to cool things down, as well as amazing lightening shows! Locals refer to the "build-up" as the Troppo season which precedes "The Wet". I think locals also look forward to the wet season as the place is a bit more quiet as a lot of the tourists have all gone back home.
I actually live in Palmerston! Yes, rents have risen quite a bit up here. I first came to Darwin in 2000. Now there are a lot of apartments in the city ( many with water views ). It certainly is a unique place.
Phil
hi Ajax,
thanks for the update. I'm glad that they are going to NT and not WA. Trades people are already so diffcult to find in WA... another major project here would aggravate trades shortage. I'm very happy for you with the rise in rent income. Who is your property manager?
mine put me on a 2 year fix on my IP in Durack. So, other houses similar to mine are getting at least $50 pw more than mine. i got myself to blame as well... for not asking question and all... but damn! it was my first IP and I thought the PM will try to get the best deal for me... how damn wrong!!!
thanks for the update. I'm glad that they are going to NT and not WA. Trades people are already so diffcult to find in WA... another major project here would aggravate trades shortage. I'm very happy for you with the rise in rent income. Who is your property manager?
mine put me on a 2 year fix on my IP in Durack. So, other houses similar to mine are getting at least $50 pw more than mine. i got myself to blame as well... for not asking question and all... but damn! it was my first IP and I thought the PM will try to get the best deal for me... how damn wrong!!!
Hi Kero,
I use Elders at Palmerston. If you don't already use them ask for Mitch Elton who is the leasing manager. If you look at rentals in Palmerston area Elders have a good number of them.
Elders Real Estate - Palmerston
11 Palmerston Crt
PALMERSTON 0830
Phone: 08 8932 4550
http://www.realestate.com.au/cgi-bi...tached,House,Terrace,Villa,Warehouse&p=30&o=p
phil,
thanks for correcting me as to which season is troppo season. We don't have this in Sydney (well not officially).
I use Elders at Palmerston. If you don't already use them ask for Mitch Elton who is the leasing manager. If you look at rentals in Palmerston area Elders have a good number of them.
Elders Real Estate - Palmerston
11 Palmerston Crt
PALMERSTON 0830
Phone: 08 8932 4550
http://www.realestate.com.au/cgi-bi...tached,House,Terrace,Villa,Warehouse&p=30&o=p
phil,
thanks for correcting me as to which season is troppo season. We don't have this in Sydney (well not officially).
Very true. Politics NT style seems to be very different from politics down South. The article also came from the "NT News", which is *very* different to other major papers such as The Australian.
Phil
thousand apologises Dazz... i should have made it less definite... probably a mis-use of words.
experts in property magazines are not very optimitic about NT but I read in a report recently that price growth in the next 3 to 5 years is 21%!!! second to brisbane. this report is from one of the economics companies... either access economics or BIS sharpel... some like that...
anyone read them as well?
experts in property magazines are not very optimitic about NT but I read in a report recently that price growth in the next 3 to 5 years is 21%!!! second to brisbane. this report is from one of the economics companies... either access economics or BIS sharpel... some like that...
anyone read them as well?
Yea Redwing l caught most of it last night, lucky l had the tape on cos l will watch it all later.
For a group of people who were looking at a glass well and truly full it may end up being very very empty. I also feel if the project goes to NT it will have a huge impact on future negotiations with all native title holders in WA.
Will be interesting how it pans out
If l was a bettin girl l would have all my coin on NT being the winners.
cheers yadreamin
For a group of people who were looking at a glass well and truly full it may end up being very very empty. I also feel if the project goes to NT it will have a huge impact on future negotiations with all native title holders in WA.
Will be interesting how it pans out
If l was a bettin girl l would have all my coin on NT being the winners.
cheers yadreamin
I'd heard NT , WA goverment is making things too hard
"is making" should read "made it" - Labor holds the disgrace of losing this deal, but judgement day has been and gone for them, now we must live withthe consequences
Don't confuse W.A. governments idea of an lng gas hub processing lng for several companies with Inpex which are looking to construct their own gas processing plant either on Maret Islands in WA or in Darwin.
Both the gas hub in WA and Inpex's own gas processing plant in Darwin could be the outcome.
Both the gas hub in WA and Inpex's own gas processing plant in Darwin could be the outcome.
http://www.abc.net.au/news/stories/2008/09/22/2370760.htm?section=business
"Govt denies Inpex housing logjam
Posted Mon Sep 22, 2008 1:00pm AEST
The Northern Territory Housing Minister says people shouldn't worry about a housing crisis if Inpex choses Darwin for a multi-billion dollar gas project.
The Japanese company is expected to announce this week whether it will process gas from the Browse Basin in Darwin or at a site in Western Australia.
Housing Minister Rob Knight says he doesn't believe an influx of workers would increase Darwin rental prices.
"It's a $50 billion deal over 20 years and over 4,000 workers, and I believe the company has got all those matters in hand.
"They're a multi-billion dollar company and I'm very confident they've got those matter in hand."
But the director of Alliance Data disagrees, saying Inpex workers will create a logjam in the rental market if the company choses Darwin.
The Alliance's Jim Maclean says the city suffered a price hike when gas company Conoco-Phillips moved into the harbour and expects even bigger consequences if Inpex comes to Darwin.
"My tip is that for the apartments that are being constructed in the city right now, that have got decent dimensions about them, and there's four or five developments that would be targeted by these home locaters, I think the landlords can expect to get between $1,000 and $2,000 a week rent."
"Govt denies Inpex housing logjam
Posted Mon Sep 22, 2008 1:00pm AEST
The Northern Territory Housing Minister says people shouldn't worry about a housing crisis if Inpex choses Darwin for a multi-billion dollar gas project.
The Japanese company is expected to announce this week whether it will process gas from the Browse Basin in Darwin or at a site in Western Australia.
Housing Minister Rob Knight says he doesn't believe an influx of workers would increase Darwin rental prices.
"It's a $50 billion deal over 20 years and over 4,000 workers, and I believe the company has got all those matters in hand.
"They're a multi-billion dollar company and I'm very confident they've got those matter in hand."
But the director of Alliance Data disagrees, saying Inpex workers will create a logjam in the rental market if the company choses Darwin.
The Alliance's Jim Maclean says the city suffered a price hike when gas company Conoco-Phillips moved into the harbour and expects even bigger consequences if Inpex comes to Darwin.
"My tip is that for the apartments that are being constructed in the city right now, that have got decent dimensions about them, and there's four or five developments that would be targeted by these home locaters, I think the landlords can expect to get between $1,000 and $2,000 a week rent."
http://www.ntnews.com.au/article/2008/09/22/6063_ntnews.html
"Inpex deal to squeeze drum-tight city rents
MATT CUNNINGHAM
September 22nd, 2008
DARWIN's drum-tight rental market is set to be squeezed even further by the expected Inpex gas deal.
Housing industry figures predict rents will soar and vacancy rates fall even further when the Inpex workers begin arriving in the Territory.
The Northern Territory News reported last week that the Japanese gas giant will tell the NT Government this Thursday, that it has won the race for the $12 billion gas plant.
It is believed the plant would bring about 5000 workers to the Top End during the construction phase.
Alliance Data director Jim Maclean said the announcement was good news for homeowners, but would make life even tougher for Darwin renters who already pay the highest rents in the country.
He said when workers arrived to build the ConocoPhillips LNG plant about five years ago Darwin rents increased by between 40 and 60 per cent.
"The top rent around the place for a nice home in City Valley or Parap Grove was $450-$475 a week - that immediately went to $600 and by the time they got everybody placed that was up to $800," Mr Maclean said.
He said anyone who was in a position to buy a home, should.
"The best time to buy a property in Darwin is right now," he said.
Housing Minister Rob Knight said if the Inpex plant was built in Darwin, a workers camp would be established at Palmerston, as had been the case when the ConocoPhillips plant was built.
He said the Government had also announced land releases in Palmerston and Berrimah that would help.
But Opposition Leader Terry Mills said the Government had not planned well enough.
"One thing the Government has done is promised to release land, but it's really far too late," he said.
He said it would be hard-working Territorians like teachers and nurses who would suffer most from rising rent."
"Inpex deal to squeeze drum-tight city rents
MATT CUNNINGHAM
September 22nd, 2008
DARWIN's drum-tight rental market is set to be squeezed even further by the expected Inpex gas deal.
Housing industry figures predict rents will soar and vacancy rates fall even further when the Inpex workers begin arriving in the Territory.
The Northern Territory News reported last week that the Japanese gas giant will tell the NT Government this Thursday, that it has won the race for the $12 billion gas plant.
It is believed the plant would bring about 5000 workers to the Top End during the construction phase.
Alliance Data director Jim Maclean said the announcement was good news for homeowners, but would make life even tougher for Darwin renters who already pay the highest rents in the country.
He said when workers arrived to build the ConocoPhillips LNG plant about five years ago Darwin rents increased by between 40 and 60 per cent.
"The top rent around the place for a nice home in City Valley or Parap Grove was $450-$475 a week - that immediately went to $600 and by the time they got everybody placed that was up to $800," Mr Maclean said.
He said anyone who was in a position to buy a home, should.
"The best time to buy a property in Darwin is right now," he said.
Housing Minister Rob Knight said if the Inpex plant was built in Darwin, a workers camp would be established at Palmerston, as had been the case when the ConocoPhillips plant was built.
He said the Government had also announced land releases in Palmerston and Berrimah that would help.
But Opposition Leader Terry Mills said the Government had not planned well enough.
"One thing the Government has done is promised to release land, but it's really far too late," he said.
He said it would be hard-working Territorians like teachers and nurses who would suffer most from rising rent."
http://www.ntnews.com.au/article/2008/09/26/6157_ntnews.html
"Biggest project in NT history
NICK CALACOURAS
September 26th, 2008
RESOURCES giant Inpex will today announce that a $12 billion gas plant is to be built in Darwin.
A well-placed source last night confirmed that the Japanese company had chosen the Territory over Western Australia.
The project is considered to be of national importance and, therefore, the announcement will be made jointly by Federal Resources Minister Martin Ferguson and Inpex officials.
Mr Ferguson, who will be standing in for Prime Minister Kevin Rudd, who is in America, last night flew to Darwin from Canberra on a VIP plane with Solomon MHR Damian Hale, Lingiari MHR Warren Snowdon and Territory Senator Trish Crossin.
Inpex bosses also arrived in Darwin yesterday for what is the biggest economic day in Territory history.
Inpex spokeswoman Jane Munday last night confirmed the officials were in town for meetings with the Territory Government and Mr Ferguson to "discuss the project''.
The Northern Territory News revealed last week that Inpex had decided to build in Darwin and would make the announcement today.
The LNG plant is expected to bring a $50 billion boost to the Territory's economy over the next two decades.
Up to 5000 workers will be employed during construction, which is expected to start in 2010.
But NT Government coffers will receive only $108 million in taxes during the four-year construction phase and less than $10 million a year during the plant's 40 to 50 years of operation.
The Territory Government remained tight-lipped yesterday and refused to comment on the expected announcement.
Company chiefs had meetings earlier this week with the Chamber of Commerce, Resources Council and Territory Government ministers.
The highly-politicised deal was a major focus of the Territory and Western Australian elections.
Chief Minister Paul Henderson called an election 11 months early on the claim he needed to give certainty to Inpex before it made a decision.
WA Liberals leader Colin Barnett recently campaigned on the promise to take back the deal, which he claimed had been lost to Darwin.
Inpex originally planned to build the plant on WA's Maret Islands, off the Kimberley, but was approached by then Chief Minister Clare Martin in a secret meeting in September last year.
The Japanese company dismissed Ms Martin's pitch at the time but, frustrated with the WA Government's delays and red tape, agreed in February to consider building in the Territory.
Western Australia premier Colin Barnett made a seemingly unsuccessful last-ditch effort to take back the deal from the Territory this week."
"Biggest project in NT history
NICK CALACOURAS
September 26th, 2008
RESOURCES giant Inpex will today announce that a $12 billion gas plant is to be built in Darwin.
A well-placed source last night confirmed that the Japanese company had chosen the Territory over Western Australia.
The project is considered to be of national importance and, therefore, the announcement will be made jointly by Federal Resources Minister Martin Ferguson and Inpex officials.
Mr Ferguson, who will be standing in for Prime Minister Kevin Rudd, who is in America, last night flew to Darwin from Canberra on a VIP plane with Solomon MHR Damian Hale, Lingiari MHR Warren Snowdon and Territory Senator Trish Crossin.
Inpex bosses also arrived in Darwin yesterday for what is the biggest economic day in Territory history.
Inpex spokeswoman Jane Munday last night confirmed the officials were in town for meetings with the Territory Government and Mr Ferguson to "discuss the project''.
The Northern Territory News revealed last week that Inpex had decided to build in Darwin and would make the announcement today.
The LNG plant is expected to bring a $50 billion boost to the Territory's economy over the next two decades.
Up to 5000 workers will be employed during construction, which is expected to start in 2010.
But NT Government coffers will receive only $108 million in taxes during the four-year construction phase and less than $10 million a year during the plant's 40 to 50 years of operation.
The Territory Government remained tight-lipped yesterday and refused to comment on the expected announcement.
Company chiefs had meetings earlier this week with the Chamber of Commerce, Resources Council and Territory Government ministers.
The highly-politicised deal was a major focus of the Territory and Western Australian elections.
Chief Minister Paul Henderson called an election 11 months early on the claim he needed to give certainty to Inpex before it made a decision.
WA Liberals leader Colin Barnett recently campaigned on the promise to take back the deal, which he claimed had been lost to Darwin.
Inpex originally planned to build the plant on WA's Maret Islands, off the Kimberley, but was approached by then Chief Minister Clare Martin in a secret meeting in September last year.
The Japanese company dismissed Ms Martin's pitch at the time but, frustrated with the WA Government's delays and red tape, agreed in February to consider building in the Territory.
Western Australia premier Colin Barnett made a seemingly unsuccessful last-ditch effort to take back the deal from the Territory this week."
Inpex picks Darwin for $20bn liquid natural gas site
Inpex Picks Darwin for $20 Billion Australia LNG Site
http://www.bloomberg.com/apps/news?pid=20601087&sid=aejQroELbFtI&refer=home
Inpex Picks Darwin for $20 Billion Australia LNG Site
http://www.bloomberg.com/apps/news?pid=20601087&sid=aejQroELbFtI&refer=home
that's good news for us Ajax
glad i didin't sell early this year... was damn angry with the property management team... but looks like rents are heading up our way
I understand the multipying effect in economics but how is the territory getting $50b is beyond me...
anyhow, it was a relief WA didn't get it... hope i didn't offend anyone saying this... but really, WA really has enough on their plates already... maybe too much.
glad i didin't sell early this year... was damn angry with the property management team... but looks like rents are heading up our way
I understand the multipying effect in economics but how is the territory getting $50b is beyond me...
anyhow, it was a relief WA didn't get it... hope i didn't offend anyone saying this... but really, WA really has enough on their plates already... maybe too much.
I agree with you 100% kero that wa has enough on its plate. Aparently we cannot get the workers now to fullfill job postions and increase production with demand.
Greed always has and always will come back and bite you on the bum.
But above all l am truly thankful that the magnificent Kimberley coast will remain untouched for the time being.
Although I do think this will be threatened again and again in the future.
I also think there will be a lot of behind the scenes scrambling within Government, business and Native title holders to make sure this doesn,t happen again[miss out] with future mega buck companies wanting our resources.
I hope the ABC 4 corners does a follow up on there story last week just to see the the results of the decission.
cheers
yadreamin
Greed always has and always will come back and bite you on the bum.
But above all l am truly thankful that the magnificent Kimberley coast will remain untouched for the time being.
Although I do think this will be threatened again and again in the future.
I also think there will be a lot of behind the scenes scrambling within Government, business and Native title holders to make sure this doesn,t happen again[miss out] with future mega buck companies wanting our resources.
I hope the ABC 4 corners does a follow up on there story last week just to see the the results of the decission.
cheers
yadreamin
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