The news on the street is that the residential property market in Darwin is HOT!Is it enough to start uttering the word BOOM?Talking with my team at the Coalface about the weekend activity would suggest that we are heading that way. One of my reps SOLD 6 homes this weekend, another SOLD 4 plus the Project Marketing Department look to have locked away 9 clients pending production of Contracts on ‘Off the Plan’ sales.You would have to think that this is pretty good signs that we are about to see some serious increases in prices if the massive increase in enquiry is anything to go by?
This spike in activity is generated from the INPEX Final Investment Decision issued just over a week ago (See previous blogs for details).I’ll leave you with a story which happened this week and you make up your own mind whether Darwin is the place to invest for growth ion the coming years….One of my reps released a home to the market for $659K on Monday. Before he had time to get the ad in the paper he received a full price offer on the property which was negotiated and he was instructed to prepare contracts. Before he could get the papers signed the owners received advice and altered the price to $720K. he opened the home on Saturday and Sunday with an advertised price of $659K with over 30 people attending the opens and being advised that the price was now $720K…….He has 2 interested parties looking to go to contract!
You heard it first on this blog. When you make the big bucks a 10% royalty cheque to G Grantham will be gladly accepted?