Wealth building through real estate investment is not new but the saying ‘safe as houses’ is still regarded as true today as 100 years ago.
The Australian real estate market, particularly the Darwin, Northern Territory market, is not over heated or exaggerated because finance has always been difficult to acquire.
Banks, the traditional lenders, are based on the conservative English system but now financial brokers have entered the market providing many additional finance opportunities.
Darwin Real Estate market was not affected by the Global Financial
Crisis, (GFC.) We believe this was, because it is so well structured and financed.
The lifestyle in Darwin is a fantastic draw-card as it lies in the tropics and has only 2 seasons, wet or dry with the average day time temperature over 24 degrees Celsius.
Employment is centered on tourism, mining, and export of cattle, local military bases, fishing and soon an LPG processing facility.
Housing is very tropical with most homes focused on outdoor living and most have an open living plan.
Rent is higher than in most other Australian capital cities with vacancy rates now about 1 in 200 unites available. The low vacancy rates keeps rentals high.
Appreciation has been averaging better than the national average per year for many years.
Health facilities are important to Darwin and it has both public and private hospitals.
Darwin is very much a multi-cultural society offering many
different types of restaurants, boutiques, clubs and pubs.
There are many excellent home builders in Darwin but we choose to sell new properties built by our sons as Killarney Homes, the multiple award winners, of many local and national Building -Industry awards.
In addition we sell and manage properties by many other vendors.
We are advocates of negatively geared property for wealth building in real estate using rental income, depreciation on the building, depreciation on interior fixtures, and interest only loans providing tax rebates to assist with the purchase of the properties.