Darwin Home Sales Market Erupts!

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BOOM Selling!

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Amidst recent Gloom statistics for the Darwin Residential Sales Market which indicated that Home/Unit Sales Market had lowered in volumes over the last 12 months by 24.9% – 64.1% there is some serious sales action happening.

Zuccoli Aspire has launched the sales of Stages A1 & A2 with contracting commencing today!

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Already there are confirmed HOLD’s on 55 of the 80 blocks available for sale which follows the 139 sales in Stages 1A & 1B which are fast approaching the commencement of the settlement process. Raine & Horne Darwin are expecting this to be Sold Out by the start of December.

Have a look at the attached VLOG and see what is being said about this exciting new development.

https://youtu.be/O2ZBAGeCJgk

Bali AWESOME Conference No 4

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We invaded Bali for our Annual pilgrimage to attend the Raine & Horne Darwin Awesome Conference once more in October.IMG_3307

This event is open only to those amongst our team who qualify for their Golden Ticket which is bought about by achieving your Targets which are set above and beyond their every day KPI’s.

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So everyone who qualifies for this ticket has well and truly deserved their opportunity to be part of the Awesome Conference 2015 as they have gone above and beyond.

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That said…..on with the show!

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Which commenced with our Special Guest Speakers, Mark Wilton (Journalist) and Amy Day (Marketing Specialist) who entertained the team with some great stories about their industry.

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Then it was a quick 2 hour break before attending the Gala Dinner and rocking on to the band. There was a small party who continued on to the wee hours of the morning however that was just so that Tony Abbott could experience some of the nightlife with his body guards (or so the drunk bloke thought at 2am in the morning).

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Allegedly there was a moonlight dip in Kuta Beach at about 3am which probably explained why there were a few sore heads the next morning for the Amazing Race.

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Which commenced as we all piled aboard a fleet of restored VW Combi’s which were fitted out as limousines…..complete with amazing sound systems.

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These ferried our teams around the island to some great destinations including the smelly Jimbaran Fish Markets where some of last nights cocktails almost made a reappearance.

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And finished by setting us down at the beach temple for a blessing followed by some relaxing lunch time fare. Naturally the winners were Team Orange however because I was on the team and it wouldn’t be good for me to win as the GM I told the organiser to give it to Team Yellow as they tried hard?Bali 2015 002Bali 2015 008IMG_8402IMG_8384

Then a day of Swimming, Waterslides, Massages and R&R before boarding that great 3am flight home….Some of us made it to work on Tuesday….in body.

Melbourne Cup Fashions

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My mates and I always referred to Race Day at the track as ‘The day the Spaceship Landed’. Reason being that we were convinced that there was not this many beautiful women in the whole of Perth as there was on Race Day at the track….so clearly a Spaceship bought them all to town and then gathered them up at the end of the day and whipped them off back to a parallel universe!

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Well it appears that the same Spaceship visits Darwin on Melbourne Cup every year and it’s not limited just to the track….they drop them at my office in Raine & Horne Darwin as well!

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Not to be denied the guys have a crack also however their idea of fashion is at times somewhat skewed and at others just obtuse.

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But apparently in this crowd it’s Obtuse that wins the prize….well for the guys anyway because Emily just looks beautiful.

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In saying that the barman is always far more attractive the later the day gets.

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The race was a cracker this year and in the same vein as the actual Melbourne Cup it was won by a female jockey. Some of the Male riders just lost their way and had way better things to do.

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Cracking good day with good fun had by most…..if not ALL!

Army Real Estate Agents

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As a registered supporter of Defence Force Reserves Raine & Horne Darwin gets an invite every year to pack a member or two of our Management Team off to do an exercise with the combined Defence Services in the NT called Executive Stretch.

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Having completed this three day course a few years back I am very aware of it’s ability to test the fitness levels of all participants. Because I was so willing to share my experiences with the team upon my return there has always been a certain amount of hesitancy in getting them to agree to participate in the course.

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It is a challenging experience however one that I found to be very rewarding and this year I was fortunate that two of my Team signed up, waived their personal safety insurance and dived in to become weekend warriors.

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My Assistant General Manager, Ilyse Elphick led the way and was joined by rising star Business Development Manager, Natasha Bland.

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The course commences with being decked out in your Army fatigues, allocated a bunk and then having a few beers to relax….sounds pretty straight forward.

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Day 1 sees you up at the crack of dawn for a gruelling PT session with the Australian Navy, followed by learning to march on your way to the pools where you are thrown in to do a swim test so that you are fit to access the Navy boats. This includes learning how to board the Rapid Response Boats from the water which is an understatement to say it’s challenging.

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Off you go to the Patrol Boats then the real thing riding the waves on a Rapid Response craft where you get another chance to drown. Now you are headed to see the fly boys in the RAAF.

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Another PT session in the pool in full kit whilst they try to drown you again followed by leadership games which involve being blindfolded, jumping in tyres and hanging upside down on poles suspended in the air….Most people do 2 workouts a week and now you have completed 2 before 3pm.

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No time to rest you will have to dry off in the beautiful 90% humidity of Darwin whilst you delicately disarm a bomb in the full bomb suit or alternately drive a big claw connected a mini mechanical tractor…..bomb….golf ball on a traffic cone….sounds the same when you say it quick.

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By now you are pretty tired so the best bet would be to get you to have a break which means set up your swag so you can get saturated in the thunderstorm tonight or alternately struck by lightening before you get 15 minutes to cook up a stew that was stored in a ration pack in 1935…..Yum Yum….I’m feeling reenergised.

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So I better run through the bush wearing night vision goggles before jumping in an ASLAV where I can simulate blowing up terrorists for a bit. Let’s face it…fatigue sharpens my skills. Great replies the Sargent…..you will need that when we hit the wets in a minute and fire the machine guns??? Targets should be pretty safe!

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Day 2 after 8 hours of deathlike collapse under the stars listening to the dulcet tones of 8 men snoring in chorus…the girls were ready to go. Which was good as they could get stuck into another PT Session which involved hand to hand combat, defence moves and other coordinated killing manoeuvres.

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Just in case you are afraid of heights lets climb this cliff face….ooops the ladder is broken….better jump off hanging by a rope? Not good enough Ilyse….do it upside down. OK that’s enough of relaxing. Grab that Steyr and we are off to the range to fire some real bullets….I think we have fatigued you enough that you are ready for that?

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Back to base, clean up, grab a beer and listen to the band…..sound good?

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Ilyse “Absolutely amazing. I had a great time!”

Tash “That was friggin AWESOME!”

Much the same as my comments. We cannot recommend it highly enough. I spoke with a 5 year reservist when I did Executive Stretch and he told me that I had just completed every fun thing to do in the 3 services. He had not even done all the things I did that day with the Army in the 5 years he was signed up.

Way to go…..Value for money! It’s FREE!

Darwin Landlords need to retain Quality Tenants

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I was lucky to be invited to speak with Adam on the ABC Morning Program regarding Falling Rental Prices and what that means for the Darwin market. Especially the Landlord/Tenant relationship.

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Here is the segment. Hope you enjoy.

Landlords urged to keep quality tenants in Darwin Rental Market

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Darwin landlords urged to move early to keep quality tenants

Quality Tenants

With vacancy rates plateauing at about 5.5%, landlords are being urged to pay attention to quality tenants to safeguard them against an empty property this wet season.

“The reality is that there is still a surplus of 1,200 rental properties in the Darwin market, the same figure as 6-8 months ago,” said Glenn Grantham, General Manager, Raine & Horne Darwin.

“The market is levelling out with virtually the same amount of new tenants and new rental properties hitting the market every month.”

Raine & Horne Darwin, for example, is averaging 20 new managements a month and 20 new leases.

“We have consistently had about 25 vacant properties at the end of each month for the past six months. Yet we’ve been putting on 20 new managements and leasing around the same number of rental properties. This means we have a lively rental market, but the new activity isn’t eating into the surplus – it’s a zero sum game,” said Mr Grantham.

With the Darwin investment market in a holding pattern, Mr Grantham warns that the duty is on landlords to be sensible about their weekly rental expectations.

“If you are putting the property into the rental market for the first time, you need to be realistic about the asking price. This means listening to your property manager and checking out online what similar properties are leasing for,” said Mr Grantham.

“If you don’t listen to the market, you’ll be an investor without an income.”

Fuming Landlord

For landlords who are facing the end of a lease, Mr Grantham advises them to approach their tenant before they test the market.

“If you have a tenant who is looking after the property and paying the rent on time, approach them immediately with some carrots, such as a discount on their current weekly rent, to ensure they stay put.

“Don’t try and convince them to stay after they have decided to move on. By then it will be too late.”

The strongest rental markets continue to be in the housing markets in the northern suburbs of Darwin such as Milner, Jingili and Moil, where yields of 5.5% are still possible and vacancy rates are below the Darwin average.

“There are 350 two bedroom apartments sitting vacant in Darwin, so this market still has some way to go” said Mr Grantham.

NT News Zuccoli Aspire Selling Like Hotcakes!

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Here is a copy of the article on Page 4 of NT News today.

I am advised by my PR team that we have had 52 Media Release hits and repeat releases on this article in Newsrooms all over the World!

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Putting Darwin and specifically Zuccoli Aspire on the big stage!

http://www.ntnews.com.au/realestate/getting-a-foot-in-doorof-new-homes-at-last/story-fnk4wt05-1227516891213

Real Estate Clerical Team

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I took the opportunity a while back to have a chat with my ‘Front Desk Superstars’ so I could find out what they thought about working at Raine & Horne Darwin.

They are the new breed who are at the doorstep of a future in Real Estate. It’s great to know that they are not just pretty faces.

So many of our senior people in both Property Management and Senior Support Roles started on our front desk.

Have a listen to what makes them tick!

https://www.youtube.com/watch?v=M7IGPvntrPE&feature=youtu.be

Buyers on the ground in Darwin if the price is right

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Here is a copy of my Press Release discussing the state of the Darwin Marketplace – Front Page News!

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With volumes and median prices down from the peaks of two years ago, it’s fair to describe Darwin as a buyers’ market, according to leading real estate expert, Glenn Grantham, General Manager, Raine & Horne Darwin.

Yet exchange of 132 contracts in eight weeks at the Zuccoli Aspire project in Palmerston, where land releases start from $116,000, prove that well-located, well-priced Darwin real estate will bring buyers out of the woodwork.

“In some sub-markets, sales volumes are down on their averages, while median prices have come back by around 7.5% and a bit more in some cases, which is to be expected given the strong bull market we had between about 2008 and 2013,” says Mr Grantham.

“Darwin real estate is a contrarian market. When southern real estate markets were wallowing in the GFC mire, the Darwin market was powering along.

“Now that Sydney, Melbourne, and to a lesser extent Brisbane, are motoring along, there is less money for Darwin real estate.

“Reports that the Inpex project was winding down late last year also didn’t help the cause for the sale of established homes and apartments in Darwin, with the news of major job losses wide of the mark.”

The good news for Darwin real estate, however, is that first home buyer activity is collecting pace.

“While overall market conditions are flat, there are buyers willing to transact, which is illustrated by the fact that we exchanged 132 contracts in eight weeks on the Zuccoli Aspire project,” said Mr Grantham.

“These are the best valued blocks in Darwin or Palmerston, sitting at roughly 330 sqm in size and selling for $116,000, which is about $70,000 cheaper than any land available in our region.

“These exchanges demonstrate that buyers are there, however activity is price point driven and it is very value oriented.”

Raine & Horne Darwin will release details of the next stage at Zuccoli Aspire in coming weeks, with strong demand expected from first home buyers.

“Zuccoli Aspire is tapping into the first home buyers’ market, as a lot of first timers are coming through with the $26,000 grant made available by the NT Government for those buying new properties or land packages,” said Mr Grantham.

“Zuccoli is also attracting people who were probably resigned to being long-term renters, because property values below $140,000 were as rare as hen’s teeth in Darwin, or they couldn’t find the quality at the price point that this land release represents.”

For those new to real estate or for those with established portfolios, Mr Grantham is confident that the long-term portents for Darwin are robust due to a significant number of non-mining infrastructure projects that are underway in Darwin, which will fuel local employment opportunities and real estate activity.

These projects include the Tiger Brennan Drive Extension project, which is the largest and most significant section of the $127 million East Arm Port Access Route, which is expected to improve traffic flow to East Arm Port and Palmerston.

“There are also the expansions at Casuarina Square, the new Gateway Shopping Centre and the Coolalinga retail precincts, not to mention land developments in Palmerston, the New Woolworths in Palmerston, as well as extensions to Royal Darwin Hospital and the new Palmerston Hospital.

“These are all big projects, which have been committed to, and most importantly will employ thousands of local workers,” said Mr Grantham.

“Projects such as Inpex always have a large element of fly-in-fly-out (FIFO) workers, who didn’t actually do much for the Darwin economy, or buy or rent local properties.”

Market Update – Darwin’s No 1 Selling Development

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I grabbed the opportunity to talk with the guys responsible for handling the sales in Zuccoli Aspire and see what was next for Darwin’s No 1 Selling Development.

132 Contracts Exchanged in 8 weeks with less than 10 blocks available in Stages 1A & 1B means that the Developer is fast tracking some more land.

Find out what is going on in the attached VLOG below.

https://youtu.be/ZzLeK5w7ZHA

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