From one of my earlier posts.
Darwin was rebuilt with the idea of no lower socio economic suburbs. In other words most of the older suburbs that were rebuilt or developed pre 90's have housing commission (has new name now) spread through out them. Most streets have a mixture of good quality houses that attract good tenants but also have the type of tenants you really want to avoid.
Agree.
Y33 said:
Three areas that have a higher portion of bottom end 1 or 2 br units are Nightcliff, Rapid Creek and Coconut grove. Occasionally there are blocks of units for sale in these two areas but you need to be very careful about the quality of the tenants. All three Coconut Grove, Rapid Creek and especially Nightcliff also have your top end of the market houses and units with one street that runs along the coast line and offers spectacular views.
Agree - I would not buy thinking "seaside" in these areas. Even though it is close to the water they have enormous troubles with itinerants and violence. I really hesitate to recommend Nightcliff even though it has the potential to be an amazing suburb because the itinerant problem is getting worse and worse (over the last decade) and is sure to deteriorate further.
Y33 said:
Recently last 10 years certain areas in the Northern suburbs, Malak and Karama have had more than their fare share of bad publicity due to roaming street gangs.
Leanyer is a nice suburb but has a severe problem with mosquitos as it backs on too swamp land.
I would avoid the Northern suburbs altogether. I grew up there in the 80's and 90's. The houses are very small, block sizes are generous though, but there is very little to recommend the Northern suburbs over a suburb like Durack, Gunn or Rosebery in Palmerston - they are all roughly the same driving time to the CBD for example. These three suburbs also have no public housing.
Y33 said:
Brinkin is a suburb beside the university and next to the beach, with middle to upper market. Houses over looking the beach/cliffs will set you back close to the 1million mark or more.
Don't think you'd get anything overlooking the beach/cliffs at the end of Trower Road anywhere near $1million. $2million entry price (if anything ever comes up - its tightly held - I know long-term Darwin doctors who live along there).
Y33 said:
A popular area for white collar govt workers or business owners is Parap and the more up market area of Fanny Bay. City workers who don't want to drive to work will look at areas like Stuart Park and Larrakeyah.
Upmarket versions of the Northern Suburbs in my opinion. All struggling with itinerant problems but luckily an announcement was made recently about demolishing public housing units in Parap. Parap has great potential if you can buy at the right price because of this, I believe.
Y33 said:
The following suburbs are predominantly middle market, Milner, Jingli, Moil, Anula and Wulagi. The following areas I would hesitate about buying in are Wanguri and Alawa although close to Casuarina Shops have been know to have the odd bit of trouble tenant wise. Two other areas not on my books are Ludmilla and The Narrows as they are beside the airport and Ludmilla is nearly under the flight plan.
I am really surprised by this. I don't see any difference in Wanguri and Alawa and have never heard of any issues different to any of the other Northern suburbs.
Y33 said:
There are new developments such as Bay Haven near the city (middle to up) and a new suburb next to the hospital that I'm not up to date on.
The suburb is called Bayview. It was good buying not long ago. It is very expensive now although I think a townhouse at around the 700k level on the water would be a good buy if you can still find one.
The suburb near the hospital is Lyons. It's a masterplanned suburb like Durack in Palmerston. I would steer WELL CLEAR of this suburb. It is adjacent to the Northern Suburbs, very far from the CBD (longer driving time than Palmerston) and many people have seriously overcapitalised there due to ridiculous land prices and spiralling building costs. Entry level here is about $650-700k for a house and it really doesn't get you much compared to something like Durack. A few have spent as much as $1million here on land and house and are finding it impossible to sell. There are very few buyers at any price in Lyons - which makes sense - you can buy in adjacent Northern suburbs like Leanyer for as little as $400k on a similarly sized block. The only advantage Lyons has is that the houses are brand new ...
Y33 said:
The satellite city of Palmerston was originally known as slumerston and marketed towards lower economic families but also filled with quality DHA houses. As it has grown more quality housing estates have been developed plus a second university campus. Unfortunately there is not a lot for kids to do and you can guess the rest. This is definitely a hit and miss area in regards to quality of tenants either side of your investment property.
Palmerslum is the word you are looking for. Unfortunately those with that sort of opinion have been proven wrong ... it is growing extraordinarily fast and the Masterplanned suburbs of Durack and Gunn are fantastic (where I live and invest). I don't agree with what you've said here. Durack and Gunn have enormous amounts of open space, no itinerant problem and there is lots for young kids to do - very family friendly areas. Just don't buy in Moulden, Gray or Driver.
I am getting $700 a week for a house in Durack and my PPOR here is worth ~$600 a week as well.
Y33 said:
approximately 80% of the population change every 5 years.
This is absolutely untrue. Where did you get this information?
Anyone interested in investing in Darwin feel free to PM to me and I will do my best to help. I've lived here my whole life (28 years) and have approx $1.6million in investment properties here.
.... There will be very good times ahead for the Darwin market, plus the yields are good to...
