Wednesday 14th June

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The Waterfront Luxury 6 Star resort got a run today on the ABC and an article in the NT News. There is a fair bit of push back against letting the foreshore be privatised (I would have to agree). The council, local architects and the planing schedule all are against.

Darwin City Council is due to open the Play Space on the Esplanade, we (at home) are confused, there is no water feature such as Cairns or Townsville and basically the play space duplicates the existing small pay areas along the Esplanade. My personal thoughts only but open space is good.

Exploration licenses for over 5,000 sq km of Territory were announced. The lease are for 6 years, but I guess you would have to dig in to find what the product being explored for is.

Clients have had their offer accepted on a existing home in the northern suburbs, the asking was $665k and time on the market was 14 days, the property was picked up for $640k which is about a 4% discount on asking price. The buyers get to use the First Home Owners Discount of $23k as Stamp Duty Exception. 40 days and they move in. My thoughts are that the vendor was realistic and knew that the first home owners discount cuts out at $650k so a first Home Buyer wont pay more than that amount.

On the investment front we need to find an interest only investment property refinance, there are still lenders offerring thsi product so it will be interesting to see what rate we can obtain.



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Nick Kirlew Darwin Mortgage Broker

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