Editorial: Good time to invest in property

New data revealing a reinvigorated property market in Darwin will be music to the ears of homeowners in the Top End.

NEW data revealing a reinvigorated property market in Darwin will be music to the ears of homeowners in the Top End.

And while rising prices are not a welcome sign for investors looking to break into the market, record low interest rates mean the buoyancy of the sector is not the barrier to first home buyers it once might have been.

The latest boom also does not carry with it the risks associated with the previous time house prices were on the rise, which came as a corollary to the influx of people and capital into the NT that coincided with construction work on the Inpex project.

OTHER NT NEWS EDITORIALS

Karama residents are terrified. Where is Ngaree?

No one wants to see a town where residents do not feel safe walking outside after dark

Hotels finally have secure future thanks to unique Territory events

When that bubble burst, more than a billion dollars was wiped from the Territory’s property market and some homeowners found themselves significantly out of pocket.

The development of a new $4.7 billion gas field off the Top End coast could see a similar surge in property prices so anyone who waits much longer could end up paying even more for an investment that could be vulnerable to the same market vicissitudes that came with the winding down of the Inpex project.

So far though, the flow on effects from the Santos led joint venture are yet to make their mark on Darwin real estate.

HOT NEW DEAL: Read everything for 28 days for just $1

That means, while prices are higher than they once were, we could be on the cusp of a new period of growth which would make buying property now a particularly savvy investment.

Follow @TheNTNews