Search results

Well under market. You can expect 240wk for standard properties -270wk or upper end renovated properties. Depending on the supply at the time, you can get 250-260wk for a basic house when theres minimal listing.

I own some properties on the streets around that property - they've done quite nicely in both rent and CG. Theres a fair few redevelopments happening in the surrounding area which is only helping things along. Overall looks like a decent purchase if you're getting a 7.5% yield.

Did they laugh when they saw your offer included vendor finance? In South Australia VF/installment contracts are heavily restricted and for the most of it completely unenforceable.

Sure it's certainly possible, but the market doesn't value it well. I've seen quite a few examples of people doing such developments and losing quite a bit of money. Battleaxe developments certainly can make sense in supply constrained areas, but this isn't the case in Elizabeth SA.

There are a lot of higher $ sale prices to the owner occupied market which is emerging in the area, so I would attribute it to that more than newbie developers. Some of the agents in the area that I work with regularly have commented that there is a large influx of migrants moving into the area...

Sales are moving fast in a lot of these areas in the past couple months - at surprising prices. Looking at the finance apps over the past few months we're seeing a drop off in clients buying in these areas as the prices have started pushing upward - a lot of punters in the market making...

That's not exactly accurate - calling it stagnation would assume a flat level price over that entire period. In reality that property at the bottom of the correct would have only sold for 160k. Anyone who was fishing around during the downtrend and bought well has had 20%+ CG in the last 2-3...

Valuation won't stack up if you're going to have 200k alone in hard costs. Not the time to do this IMHO, as there is minimal profit margin with land prices suppressed from government releases.

The average person has one breast, one fallopian tube and half an adams apple! Who wants to be average? :) Joking aside - very much possible if you've bought well, however with the increased interest in the market I'd say it's getting pretty hard. In saying that I know of one which was...

There's been a couple posts on it - for the most part you're going to struggle to get 7-10% yields in Hillbank, likewise the capital growth potential isn't coming off the same low bases from the stigma complex, I just don't see anything which really jumps out as a great investment driver. I'd...

Agreed, this has been going on for a while. CBRE are doing EOI for leases on a multi storey office and retail development on one of the tracks of council land nominated in the redevelopment.

As it's Smallacombe Sanderson it would be government sale - so all made a loss in a sense! Just a part of the transparency of the process to let it come to an auction w/out accepting a random pre-auction offer.

Definitely worth retaining if possible. Sounds like a good result - what sort of frontages will you have on the new blocks?

DaveM doesn't mention that he's been a personal friend for quite a while. ;) Bez, did you end up going for a Torrens subdivision, or community? Removing the house at same time or staggering the development?

Most of Adelaide suffers from highly reactive soils, but you will find this becomes more apparent with the older 50-60's stock as housing trust building quality was terrible during this period. Basic forward planning such as directing storm water drains away from the houses isn't present with a...

I'm not so sure about that. Using Elizabeth as a base point, Adelaide as destination: Main North Rd:28.7km's - 37 minutes Expressway + South Rd:45.8km's - 46 minutes If you were going from Gawler, absolutely that would make sense to take the expressway however.

There's already been significant increases in quite a few areas - a lot of valuations are coming in 5-10% up over the last 12 months. Adelaide is certainly going through a transition, and it will need to revolutionise it's economy from it's OLD industrial roots. Everyone is aware of this...

Which is no doubt factored into the price. Should these be returned to good condition, you could expect a circa 300k - not too bad a result if you can keep the costs to a minimum.

5.05% is a touch high - though rate isn't the only thing. Go hard with a singular lender and you may find yourself backed into a corner one day, when your serviceability crumbles from singular lender exposure/policy exposure. But that's a conversation for a different thread. :)

I think you answered your own question. :)