The Northern Territory news Sat 12 Dec 2009
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Nationwide News Pty. Limited
26 Northern Territory News, Saturday, December 12, 2009 Real Estate Liftout P U B : N T N E W S D A T E : 1 2 -D E C -2 0 0 9 P A G E : 1 2 6 C O L O R : C M Y K www.ntnews.com.au By TORY SHEPHERD M ANY Australians should give up dreams of home ownership and turn to long-term leases, a housing affordability expert says. Chairman of the National Affordable Housing Summit Julian Disney (photograph) says our homebuying "obsession'' means too many people are financially overstretching themselves. Five or 10-year residential leases are the answer for many, says Professor Disney, in Adelaide this week. Australia has one of the worst levels of housing affordability, he says. The author, law professor and University of NSW Social Justice Project director said long-term leases could offer a more flexible and attainable solution. "The obsession with home ownership, the obsession from a young age to have a big house, has actually got worse in the past few years,'' Professor Disney said. "We're overdoing it. The case for home ownership for many families is weaker than it was 20 years ago. For half the population, home ownership will be a good thing at some point in their lives . . . but people are buying things they can't afford. "The great Australian dream is at risk of becoming a nightmare.'' Professor Disney pointed to international research linking high rates of home ownership to high unemployment, because people were not able to move to where the jobs were. He said people were in jobs for shorter periods of time and should have the option of long-term leases so they could move as their needs changed. Such leases are common in Europe - where they are occasionally criticised for giving too much power to the landholder, reinforcing class divisions - but relatively rare in Australia. Professor Disney, who was in Adelaide for an SA Council of Social Services affordable housing advocacy event, said the system would work with investors purchasing the properties and leasing them out. The point that is not yet recognised enough is how much houses discourage mobility, the ability to move to a place where there are more job opportunities and the ability to downsize to a more suitable house,'' he said. He also blamed Australia's "upside-down, back-to front'' taxation system for inflating house prices and providing disincentives for moving house. He identified the level of stamp duty payable, the "uniquely generous'' approach to negative gearing and means testing as areas that could be improved. SACOSS executive director Ross Womersley said a "paradigm shift'' was needed to convince people that buying a house was not always the best option, despite incentives. "There are a lot of people who have a vested interest in persuading people that buying a house is a good idea. A lot of people have been captured by that,'' he said. "Someone has to have an income of about $60,000 a year . . . to buy a reasonable property. That's a big job.'' Real Estate Institute of SA president Michael Brock said saving for a deposit was the hardest part of buying a house, and if people were not in a position to save a significant deposit, they could have a problem. He said people needed to stay within their means. "Don't bite off more than you can chew,'' he said. DARWIN CITY $495,000 55/5 Cardona Crt Open Sun 1.00-1.45 CITYSIDE LIFESTYLE! EXECUTIVE APARTMENT! Situated within easy strolling distance to City centre a stylish apartment, open plan living flowing onto breezy balcony, 2 bedrooms, 2 bathrooms, master with ensuite, exceptionally large basement storeroom, 2 carparks, gym, pool in security complex. Young modern affordable apartments do not last long in the market place. Marianne Martin 0417 868 434 BAYVIEW NEG OVER $699,000 6 Muzzell St Blue Chip ABSOLUTE WATERFRONT! VACANT LAND! BERTH! Rare and magnificent opportunity to acquire vacant waterfront land, on the waters edge with the spectacular seductive spectacle of the twinkling lights of the Cityscape skyline as your daily vista. Land close to the City is a rarity, let alone an exceptionally prestigious allotment minutes from your favourite City restaurant. Marianne Martin 0417 868 434 DARWIN $535,000 Phone To Inspect LUXURIOUS INNER CITY APARTMENT From the moment you enter you will be impressed with the acute attention to detail and the stunning finishes of this 2 bedroom, 2 bathroom apartment situated in a security complex in a very quiet street. 2 security carparks, storeroom, superb complex pool, all minutes to City centre. Marianne Martin 0417 868 434 Wayne Ashby 0412 662 728 COCONUT GROVE NEG OVER $359,000 2/127 Dick Ward Drv Open Sat 5.00-5.45 LOCATION! SPACE! URPRISE PACKAGE! Free standing ground level 2 bedroom unit, in self-managed PET FRIENDLY complex of 4 only. You will be amazed at the size of the wrap-around yard and great outdoor entertaining areas. Fully airconditioned, fully tiled, both bedrooms have private entrances, newish kitchen and renovated bathroom. COME ON! Marianne Martin 0417 868 434 Wayne Ashby 0412 662 728 RAPID CREEK $1,200,000 68 Nightcliff Rd Phone To Inspect BLOCK OF FLATS! SUPERFUND? Exceptional opportunity to acquire an outstanding property for your superfund or your investment portfolio. Situated on a 946m2 allotment, currently holding 4 x 1 bedroom flats and 2 x 1 bedroom demountables returning $1,340 per week, supremely located within walking distance to Nightcliff foreshore. Marianne Martin 0417 868 434 Wayne Ashby 0412 662 728 GRAY NEG OVER $423,000 Phone To Inspect SPACIOUS GROUND LEVEL HOME Secure this solid ground level home now with tenant in place at $375 per week until 10/05/2010, home hunters and investors should view. Featuring open plan living, 3 airconditioned bedrooms, large study or 4th bedroom, expansive entertainment area overlooking private above ground pool, in private Court. ROSEBERY $480,000 1 Tozer St TRIPLEX SITE! RARE EARTH! Dont miss this sensational and RARE opportunity to acquire a 906sqm TRIPLEX allotment with approval for 3 x 2 bedroom dwellings. JUST IMAGINE THE POTENTIAL OF THIS! Can you afford to miss this amazing opportunity where vacant homesite land is becoming rarer. HESITATE AND YOU WILL MISS OUT! Marianne Martin 0417 868 434 Licensed Real Estate Agents 82 SMITH STREET DARWIN 08 8941 1550 www.mcgees.com.au WAYNE ASHBY 0412 662 728 MARIANNE MARTIN 0417 868 434 JENNY KRUMBECK 0412 735 144 DARWIN Horizons $485,000 5/24 Harry Chan Ave Open Sat 12.45-1.30 WANTED BATCHELOR, OR ACTIVE YOUNG COUPLE The unit is freshly painted, comprising of 2 bedrooms, ensuite to the master, BIR and carpeted floors, the kitchen with all mod-cons blends nicely with the dining and lounge area with ceramic tiled floors, air-conditioning throughout provides year round comfort. Outdoor entertaining is a breeze on the balcony with views of Francis Bay and wet season lightning displays. There is a pool and gym in the complex, plus two basement car parks and storeroom. Wayne Ashby 0412 662 728 CULLEN BAY $939,000 54/6 Marina Bvd Open Sat 11.30-12.15 2 STOREY PENTHOUSE AFFORDING SENSATIONAL SEA VIEWS! This 2 storey penthouse will dazzle you with its stylish space indoors and outdoors and views over the vibrant Marina, and Darwin Harbour. Refurbished, this superb abode enjoys sea breezes from Mindil beach and Darwin Harbour. Featuring 3 separate living areas, 2 external living areas including a spectacular 70m2 (approx) 2nd level Roof Terrace, 3 bedrooms, 3 bathrooms, new kitchen on the 1st level and a kitchenette on the 2nd level, 2 security carparks, storeroom, complex pool. Marianne Martin 0417 868 434 NIGHTCLIFF NEG OVER $372,000 Phone For Details SERENELY PEACEFUL IN SUPERB SUBURB Your search is over, delightful larger than average unit located on the first level. A highly practical kitchen flowing neatly to the expansive open plan lounge dining area, ceramic floor tiles with access to a balcony with privacy and enjoyment assured. The two bedrooms are air conditioned with B.I.Rs, the family bathroom is nearby. Two undercover car parks help set this property apart from others. Oh so close to all amenities. Wayne Ashby 0412 662 728 NIGHTCLIFF New Release NEG OVER $659,000 12 Eugenia St First Open Open Sat 2.00-2.45 NAUTICAL THEME IN AFFORDABLE BEACHSIDE HOME! A funky and well appointed home with a nautical theme in a premier suburb. Portholes throughout, an end wall of glass overlooking the rainforest rear yard and a spa in the shape of a sail, Marine ply kitchen benches and timber lined ceilings all set the seaside atmosphere in this friendly 3 bedroom, 1 bathroom delightful home. MD zoning. Owner instructs sell before Christmas! ROSEBERY NEG OVER $429,000 5/25 Yirra Cres Open Sat 2.15-3.00 Sun 11.30-12.15 BRAND NEW FREE-STANDING VILLA! Supremely situated at the end of a select complex on an amazing 326m landscaped allotment on automatic irrigation, a beautiful 2 bedroom, 2 bathroom fully tiled, air-conditioned ground level unit. Open plan living opening onto tiled entertainment area, superb kitchen dressed in 2 pak and Granite and 2 carparks. Wide wonderful windows brings the expansive wrap around rear yard with its glorious tropical gardens indoors from all angles. HURRY! Marianne Martin 0417 868 434 Wayne Ashby 0412 662 728 WHARF ONE $749,000 125/19B Kitchener Drv Open Sat 3.45-4.30 WATER FRONT! WHARF ONE! UNIQUE AND SENSATIONAL! The world class dynamic location speaks for itself and this spectacular end apartment on the 4th level of Building One has the added benefit of the living area opening onto balconies at both ends, so your daily morning moving vista is of the resort style playground below, Darwin Harbour and over the City. A luxurious 3 bedroom, 2 bathroom, (2 carparks) apartment representing a lifestyle change. Marianne Martin 0417 868 434 re 2 4 0 6 5 2 DARWIN CITY $675,000 12/44 McLachlan St Open Sat 12.45-1.30 DELUXE CITY APARTMENTS WITH SUPERB SEA VIEWS! Executive apartment on 6th level, in exceptionally quiet street, spacious and stylish, an open plan living area flowing onto a terrific tiled balcony affording magnificent views over Darwin Harbour. Gourmet kitchen, 3 generous bedrooms, extra large master incorporating a beautiful ensuite, 2 basement carparks, storeroom, and superb complex pool. Marianne Martin 0417 868 434 Leasing may be only option
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