Hi Guys,
My wife and I need a place of our own in Darwin. This is less a financial decision, more an emotional one.
We love Darwin and will be staying.
Still....I don't want to go financially under just to get a roof either.
The Darwin market is slowing down. The mining boom is ending and all that. Right now I can put the screws in and get a 2 br villa for 350K. Which is a good price (they were recently 400K).
However, there's a HUGE gas processing plant being built that currently employs about 8000 people (Darwin's population is 130 000 ). That is due to finish in mid 2016 and prices should drop further then.
So logically I should be waiting until then, however , in the meantime we are paying 26k pa in rent.
The fundamentals for Darwin are still OK, even after you take the mining and this gas project out of it. There will always be defence, government and tourist jobs here.
Any thoughts guys? Pay the 26k and wait until mid 2016?
Or negotiate hard and buy a place now?
Could really do with some advice here.
My wife and I need a place of our own in Darwin. This is less a financial decision, more an emotional one.
We love Darwin and will be staying.
Still....I don't want to go financially under just to get a roof either.
The Darwin market is slowing down. The mining boom is ending and all that. Right now I can put the screws in and get a 2 br villa for 350K. Which is a good price (they were recently 400K).
However, there's a HUGE gas processing plant being built that currently employs about 8000 people (Darwin's population is 130 000 ). That is due to finish in mid 2016 and prices should drop further then.
So logically I should be waiting until then, however , in the meantime we are paying 26k pa in rent.
The fundamentals for Darwin are still OK, even after you take the mining and this gas project out of it. There will always be defence, government and tourist jobs here.
Any thoughts guys? Pay the 26k and wait until mid 2016?
Or negotiate hard and buy a place now?
Could really do with some advice here.