Sprout Invest

18/03/2024

🟢 ---- Self-Managed Super Fund Property Rules ---- 🟢

❔❔ Did You Know You Can Now Buy A Residential Investment Property In Your SMSF?

However, You can only buy property through your SMSF if you comply with the rules.

The property must:

☑️Meet the 'sole purpose test' of solely providing retirement benefits to fund members.
☑️Not be acquired from a related party of a member.
☑️Not be lived in by a fund member or any fund members' related parties.
☑️Not be rented by a fund member or any fund members' related parties.

04/07/2023

☑️ Without doubt, home owners with mortgages will be a little relieved to see a pause. 💚The Reserve Bank of Australia has paused the interest rates this month, leaving it at of 4.1%.
This decision was expected by many, after the Australian Bureau of Statistics released data showing the annual inflation rate fell to 5.6% in May from 6.8% in April.
Whats your thoughts on next months Decision ⬆️,⬇️ or ➡️

22/07/2021

Great results for Darwin

Investors are reaping huge returns on many homes around the country, with the yield on one type of property – apartments in Darwin – smashing all records since they began.

12/07/2021

𝗘𝗢𝗜 𝗣𝗿𝗼𝗰𝗲𝘀𝘀 𝗳𝗼𝗿 𝗟𝘂𝘅𝘂𝗿𝘆 𝟲 𝗦𝘁𝗮𝗿 𝗛𝗼𝘁𝗲𝗹 𝗳𝗼𝗿 𝗗𝗮𝗿𝘄𝗶𝗻
The NT government is still optimistic a luxury six-star hotel could become a reality in the Darwin CBD despite the original developer abandoning plans to proceed with the project, according to Infrastructure Minister Eva Lawler.

Chief Minister Michael Gunner last week revealed the NT government was preparing to open up an expressions of interest process for the land’s further use and Ms Lawler said that the Government is going to open a register of interest by the end of July, and it will go out for approximately 12 weeks.

01/07/2021

𝗦𝗲𝗮𝗳𝗮𝗿𝗺𝘀 𝗿𝗮𝗶𝘀𝗲𝘀 $𝟵𝟮.𝟱𝗺 𝘁𝗼 𝘀𝘁𝗮𝗿𝘁 𝗼𝗻𝗲 𝗼𝗳 𝘁𝗵𝗲 𝘄𝗼𝗿𝗹𝗱’𝘀 𝗹𝗮𝗿𝗴𝗲𝘀𝘁 𝗽𝗿𝗮𝘄𝗻 𝗳𝗮𝗿𝗺𝘀 𝗶𝗻 𝘁𝗵𝗲 𝗡𝗧
Seafarms has successfully raised $92.5m to kickstart the much anticipated stage 1a of the Top End’s Project Sea Dragon, one of the world’s biggest prawn farms. It follows the share placement announced by the company on June 23. Eligible shareholders can participate on the same terms under a share purchase plan to raise an additional $15m for the project.

Seafarms aims to produce more than 150,000 tonnes of tiger prawns a year at sites in the Northern Territory and Western Australia. The project includes a founder stock centre at Exmouth in Western Australia, a hatchery and breeding centre near Darwin and the development of about 400ha of production and nursery ponds at Legune ¬Station, plus the upstream and downstream facilities at Legune and other sites in the NT.
Source: NT News

20/06/2021

𝗗𝗮𝗿𝘄𝗶𝗻 - 𝗖𝗼𝗺𝗲𝗯𝗮𝗰𝗸 𝗖𝗮𝗽𝗶𝘁𝗮𝗹'𝘀 𝗛𝗼𝘂𝘀𝗶𝗻𝗴 𝗕𝗼𝗼𝗺

House sales have surged by 77 per cent compared to last year, the Territory Labor Government announced last week.

From January to May, there were 772 purchases of homes recorded, compared to 435 for the same period in 2020.

In 2019, there were 478 sales and 423 in 2018.

In more good news for the economy residential home approvals have doubled in the Territory in the last year.

From January to May there were 321 residential building approvals – up from 164 approvals in the same period last year.

These approvals have an estimated construction value of around $169 million to the Territory economy.

15/06/2021

𝗠𝗶𝗻𝗲 𝗚𝗿𝗲𝗲𝗻 𝗟𝗶𝗴𝗵𝘁 - 𝗠𝗮𝘀𝘀𝗶𝘃𝗲 𝗕𝗼𝗼𝘀𝘁 𝗳𝗼𝗿 𝗝𝗼𝗯𝘀
THE Territory government has given the green light for Vista Gold Australia to recommence mining operations at its Mount Todd mine, in what it is hailing as “a massive boost for local jobs”.
The mine has been mothballed since ceasing operations in 2000 and has been overseen by Vista Gold since the company acquired the mineral titles in 2006.
Vista Gold’s mining management plan (MMP) has now been assessed by the Territory government as meeting the requirements of the Mining Management Act 2001 and being consistent with all environmental requirements.
The government has also signed off on the company’s efforts to address previous recommendations from the NT Environment Protection Authority and holds an Aboriginal Areas Protection Authority certificate.
Mining and Industry Minister Nicole Manison said the Mount Todd project would support about 450 jobs during construction and 350 jobs during peak production.
“Mining is a huge job creator for Territorians, employing over 4400 people directly,” she said.
“The total value of mineral production in the NT for 2019-20 was $4.4bn and establishing new mines creates local jobs for Territorians and significantly boosts our economy.
“This is the fifth major mine approval over the past 12 months in the NT and a further step to strategically positioning us as a globally significant hub for mineral exploration.”
Vista Gold chief executive Frederick H. Earnest said the approval was a “landmark achievement” for the company.
“We believe that the approval of the MMP distinguishes Mount Todd as one of the most attractive, partner-ready development projects in the world and places it at the top of a unique class of gold projects – large-scale production, low operating costs, mining-friendly jurisdiction, substantial existing infrastructure, social and government support, and now with all major authorisations in hand,” he said.

10/06/2021

𝗣𝗼𝘀𝗶𝘁𝗶𝘃𝗲 𝗥𝗼𝗮𝗱 𝗔𝗵𝗲𝗮𝗱 𝗳𝗼𝗿 𝘁𝗵𝗲 𝗡𝗼𝗿𝘁𝗵𝗲𝗿𝗻 𝗧𝗲𝗿𝗿𝗶𝘁𝗼𝗿𝘆
THE Territory’s economic data continues to show encouraging signs of improvement for the Territory.
ABS data shows Territory jobs are up about 6 per cent when compared to the corresponding Covid-19 lockdown period of last year. It is the strongest performance of any jurisdiction and interestingly there has been significant jobs and wages growth among older workers aged 60 years and over and workers aged between 15 and 19.
The over 60s is up almost 12 per cent and very young workers up close to 15 per cent. This coincides with pleas from the tourism and hospitality wanting more staff to fill a critical dry season shortage.
The other point of note is that the bulk of new jobs is in roles largely funded by the public sector, which may be a Covid-19 knock on.
The Northern Territory has the highest proportion of people working. Our participation rate at 72.7 per cent is well above the national average of 66 per cent. The facts are if you want to work in the Territory right now, there is work to be had.
The ABS figures bear this out showing the number of jobs filled in the Territory is greater than people employed, This means Territorians are working multiple jobs.
This is the Territory’s third quarter in a row of strong growth in economic activity after a horror period of decline. Good reason to be confident in the road ahead.
Source: NT News 11/6/21

01/06/2021

𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐞𝐫 𝐩𝐫𝐨𝐦𝐨𝐭𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐜 𝐬𝐩𝐚𝐜𝐞 𝐢𝐧 𝐓𝐡𝐞 𝐆𝐚𝐫𝐝𝐞𝐧𝐬, 𝐃𝐚𝐫𝐰𝐢𝐧, 𝐍𝐓
Developer Makrylos has vowed its landmark tower proposal at The Gardens will provide the public with new open spaces with Indigenous artwork, a public cafe and a peacock coop.
Also promised for the Elysium Green development is a sensory garden, playground and a community herb garden.
Makrylos Group director Gina Makrylos unveiled the changes, vowing the company had “listened to neighbouring residents”.
It comes after new plans for the dual-tower at 4 Blake St were unveiled on Monday, which would be downscaled from its old plans.
The development would remain seven storeys tall and have 101 apartments with two or three bedrooms.
Ms Makrylos said the new apartments would “create a building that will be at the forefront of a new standard for sustainable green architecture in tropical Australia”.
“The building design focuses heavily on providing extensive high-quality public realm spaces at street level, to encourage neighbours, residents and the community to come together to celebrate this magnificent location,” she said.
A public piazza in the precinct would be named Agostini Place after the nearby Botanic Gardens’ head gardener between 1933 and 1956, Isidoro Agostini. A cafe, boab tree, sensual garden and public e-bike station would be included in public areas and the apartment towers would include a skygarden, louvre windows and rainwater tanks.
Ms Makrylos said the proposed tower would have a NatHERS energy rating of 8.6 stars, well above the NT’s required 3.5 star rating.
Infrastructure and Planning Minister Eva Lawler refused to comment on the specifics of the new development application.
“We have always said projects that bring economic value to the Northern Territory should align with community expectations,” Ms Lawler said. “Any new applications will go through the necessary process.”
The Development Consent Authority will assess the application.

01/06/2021

𝟱𝟭 𝗻𝗲𝘄 𝗵𝗼𝗺𝗲𝘀 for 𝗭𝘂𝗰𝗰𝗼𝗹𝗶 - 𝗣𝗮𝗹𝗺𝗲𝗿𝘀𝘁𝗼𝗻, 𝗡𝗧
Plans for an additional 51 homes to be built in an expanding estate in Palmerston’s fastest-growing family suburb have been revealed.

Led by Urbex and the Land Development Corporation, the $185 million Zuccoli Village development will contain 900 lots once completed.
The company has now made a development application to add 51 new lots to the subdivision as a part of phase 3.7 of the Zuccoli Village project.
Planning documents show phase 3.7 has a development footprint of approximately 36,600sq m.
“Apart from the access track from the site compound to Phases 3.4 and 3.5, the majority of the vegetation within the Phase 3.7 Area has been retained,” the documents reads.

“This is to be cleared as part of the Phase 3.7 works.”
It comes after Zuccoli Village released new land called Bambusa last June, following sold-out land releases Vogel and Follington. Bambusa offered 46 lots priced from $189,000 to $260,000.

Zuccoli Village sales consultant Nicole Turner said Bambusa had gained significant attention on its release. She said Bambusa was a welcome addition to the suburb. “It is great to see the community expanding and thriving,” Ms Turner said.
“It is a stone’s throw away from local schools, including the new primary school, the Zuccoli Plaza as well as the William Kirkby Jones Park, which is a great asset to the community.

“Zuccoli Village is a great neighbourhood to be part of, with a village feel and young community.”
Winning elements in the Urbex development included its streetscapes, which embrace Zuccoli’s natural setting by retaining native flora and fauna and enhancing the creek-lines.

Housing lots are positioned to maximise solar orientation, capture breezes and overlook vegetation and parklands, with careful consideration given to natural contours of the site to ease stormwater management.

31/05/2021

𝐇𝐨𝐮𝐬𝐢𝐧𝐠 𝐯𝐚𝐥𝐮𝐞 𝐠𝐫𝐨𝐰𝐭𝐡 𝐚𝐭 𝟏𝟖𝐩𝐜
THE Darwin real estate market has had an 18.2 per cent lift in house values.

The spike highlights the extraordinary growth and activity in the housing market with Darwin units experiencing a 9.5 per cent rise in value.

Darwin and NT dwelling values show the highest annual growth rate of the nation’s capital cities in the 12 months to April at 15.3 per cent. Darwin’s median house price has increased in the past year to $547,000.

As of April this year, the combined value of the Australian housing market climbed to an eye watering $8.1 trillion, and the CoreLogic Home Value Index was 7.6 per cent above its previous high in October 2017.

CoreLogic says there are also early signs that investors are coming back to the property market, with February and March recording a -4.8 per cent reduction in first homebuyer borrowing.
Property investor financing was up 17.7 per cent in March compared with January, pushing up the share of financing secured by investors to 25.9 per cent in the month, compared with a recent low of 23.1 per cent in January.

CoreLogic’s Head of Research Australia Eliza Owen said with economic conditions improving, dwelling values were at a new record high in every jurisdiction except the Northern Territory and Western Australia.
“At this stage, it seems most likely that the extraordinary growth rates seen through the start of the year are not sustainable, and will gradually trend down due to affordability constraints,” she said.
“Tighter lending conditions also seem likely to put downward pressure on housing demand.”

It is currently cheaper to buy than rent in almost every suburb in the Territory.

An REA Insights Buy or Rent Report 2021 shows 99.1 per cent of all residential dwellings in the Territory were cheaper to buy than rent as of March 2021, including 98.5 per cent of standard houses (three bedrooms) and 99.9 per cent of standard apartments (two bedrooms). By area, it found for a standard house it was cheaper to buy than rent in 97.6 per cent of suburbs.

Report by Gary Shipway, NT News 1/6/21