Thursday, October 30, 2014




'Most capital city rents falling flat, according to Domain Group...'
'Over the September quarter, most of Australia’s capital cities recorded flat or falling rents for units and houses, according to the Domain Group Rental Price Series Quarterly Report. The September quarter’s national median asking rent for units dropped 0.4%. However, this does bring it up 1.9% over the past 12 months.... 

Darwin’s house median asking rent over the quarter increased from $645 to $660 per week, bucking the trend.....' 

- from Property Observer, 9 October 2014. Click here to read the whole article.
'Inside information beats drivebys...' -   by Andrew Winter, NT News, 25 October 2014... read on...

'Prices rising but apartment settlements distort figures...' -  - article by Courtney Todd, NT News, 25 October 2014... read on...

Friday, October 10, 2014

'Buyers flock to Howard Springs sales...' -  - article by Dani McDonald, NT News, 4 October 2014... read on...

'Sellers favoured now, but pendulum may soon swing...' -  - article by Courtney Todd, NT News, 4 October 2014... read on...
RP Data's Australian Housing Market Update for October 2014
 

'After the strongest winter month for capital gains since 2007, the rate of home value growth eased off over the month of September with capital city dwelling values holding virtually steady with a 0.1% rise across a combined capital city index...' - listen to the report here...

 
'Darwin city rent highest in Australia...'


Article from NT News, 10 October 2014.... read on...
'$800m CBD Building Boom Transforms Darwin...'


Article from NT News, 2 October 2014... read on.....

Monday, October 6, 2014

'The current market is beneficial for buyers, if they're savvy...'


Here’s an excerpt from an interview I did with Miriam Bell from Your Investment Property magazine....

'However, Peterson’s Property Search founder, Tod Peterson believes the current market is beneficial for buyers. ‘They have more leverage and more negotiating power in this climate. As long as they are savvy, there are good opportunities for buyers to come into the market.’

 ‘It’s worth noting that Darwin properties are also still pulling in the highest rents in the country’, Tod says. The latest RP Data figures show that this is indeed the case, with Darwin houses recording a yield of 5.9% and the city’s units posting a 6% yield.

‘Accommodation is still tight up here. It can be a bit seasonal and demand is always strongest during the Dry season. But, overall, demand remains high, especially when you take short-term rentals into account.’

Despite the more subdued environment dominating the market, there have been some noteworthy developments in recent times.

One such development is the Territory Government’s drive to promote the Top End’s resources to China. The goal is to attract big agricultural and infrastructure projects. A similar tactic was successfully used with Japan and resulted in the Inpex Project. As a result of the Government’s efforts to reach out to China, Tod says he has been increasingly dealing with Chinese investors. While they have been interested in big blocks of land for food production and plantation purposes, this trend could impact on the NT market further down the track.

Another noteworthy development has been the state government’s efforts to deal with the aforementioned squeeze on accommodation. There have been house and land packages released in Palmerston and the northern suburbs of Lyons and Muirhead.

Tod says the state government is also interested in making use of infill land. ‘The release of this land is a cheaper way to deal with the accommodation problem – rather than setting up a whole new suburb and putting in headworks.’

 
'There is no such thing as an average owner-occupier in Darwin...'

'After good growth over the past two years, Darwin’s property market seems to have stabilised and we may see a softening in the short term, also because affordability is becoming a real issue for most Territorians, with the Northern Territory boasting some of the most expensive living and property costs in the country.

There is no such thing as an average owner-occupier in Darwin, but a lot of people are looking for a family home and like most Australians, building your family home is the Aussie dream.


The areas to consider are Palmerston, and Muirhead in the northern suburbs, but you can still find the odd vacant block around or if your budget allows, you could knock down a pre-cyclone dwelling and build your castle...' - from the Herron Todd White Report, Month in Review, October 2014...read the Darwin report here....

Thursday, October 2, 2014

'15 questions to ask your buyer's agent'

'Finding a buyer’s agent that fits your investment plan is tricky business. They’re not all made equal. If you’re currently in the process of choosing a buyer’s agent, then here are 15 questions that you should be asking:

• What are your skills and experience as a buyer’s agent?
• How is your fee determined?
• What services are included in your fee?
• Are there any additional fees/charges?
• Can you provide references from former clients?
• What happens if I locate a property myself or inherit a property during the period of our contract?
• How thoroughly do you evaluate properties on the list? What research do you undertake before recommending a property?'


Article by Jennifer Duke from Property Observer - click here to read all the questions....