Territory Stories

Sunday Territorian 6 Oct 2019



Sunday Territorian 6 Oct 2019


Sunday Territorian; NewspaperNT




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Community newspapers -- Northern Territory -- Darwin.; Australian newspapers -- Northern Territory -- Darwin.

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Nationwide News Pty. Limited

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Copyright. Made available by the publisher under licence.

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Nationwide News Pty. Limited



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SUNDAY OCTOBER 6 2019 NEWS 03 V1 - NTNE01Z01MA LATEST CoreLogic data shows Darwin home prices are down 30.8 per cent from their highest point and there is evidence a growing number of the homes on the market are bank mortgagee in possession sales. Yesterdays NT News real estate pages were sprinkled Defaults spur price drops GARY SHIPWAY BUSINESS EDITOR with mortgagee in possession properties, where the owner was no longer meeting their mortgage payment requirements and their property was back in the hands of their lender, on sale at rock-bottom market prices. Darwin real estate companies have confirmed an increase in home buyers making the most of the housing bargains and they believe this will increase with the Reserve Bank dropping the official cash rate from the previous low of 1 per cent to an unprecedented 0.75 per cent. First National Real Estate managing director Jeremy ODonoghue said he believed Darwin had pretty much found its bottom. You can get three-bed room houses at Palmerston for around $300,000 to $350,000 no one would have predicted that, he said. The value out in the northern suburbs and Palmerston is extraordinary. It is certainly a lot lower than any of us could have seen. There is definitely more mortgage default sales in Darwin since the banking royal commission, whether thats because they are coming off interest-only arrangements I cant say, but there is definitely mortgage stress out there. The rental market was fairly high and perhaps people were borrowing on the back of the high-yield market and this has corrected itself. Mr ODonoghue said out of that unfortunate hardship had come opportunity for firsthome buyers and others looking for a future growth investment. You can buy apartments a lot cheaper than you can build them and some are particularly good value, he said. We are definitely noticing that people are out shopping in the market. The Governments incentive scheme has helped. A turtle released at Casuarina Beach captured by budding photographer and secretary of the AIPP NT Navin Chandra Turtles sure make a shell of a photo TURTLES escaping to freedom on Casuarina Beach have had their moment of triumph eternalised by a budding Darwin photographer. Australian Institute of Professional Photographers NT secretary Navin Chandra said he was invited to the Department of Parks and Wildlifes turtle release at Casuarina Beach to capture the moment. I just signed up for the Parks and Wildlife turtle release. I got called yesterday and I headed down to take a couple of photos, he said. It was quite cool seeing the turtles make their way down the beach. There were a lot of excited kids and I think it was a good experience for everyone. While the turtles made for some great photos, Mr Chandra has travelled far and wide across the Territory to snap the many different species calling the NT home. I enjoy taking nature photos and things like that ... I definitely enjoy taking photos of turtles. I like photographing birds as well, he said. Ive been to a number of places. Mr Chandra said working with the AIPP gave him opportunities to capture not only turtle releases but plenty of other photographic opportunities only the Top Ends landscape offered. We are a group of advocate photographers and hold events for people who are interested in photography, workshops, courses, things like that, he said. WILL ZWAR Helping lower the cost of Sunday roast Coles Australian Pork Shoulder Roast Boneless From the Meat department. Product sold uncooked. Serving suggestion WAS $9kg MAY 2019 $750kg 6 14 3 12

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