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I've got a nice 3x1 semi in a very similar location renting for 230/wk. I'm pre-emptively lowering the rent on it before the next renewal, as I know they wont stay for that amount. As you say, 240 is well above market.

It really depends on the asking price. If they were priced competitively, its not unheard of for them to go above the asking price. That pair linked further up on Halsey street I wouldnt be surprised if it went above the asking price if it came off the affordable homes program before it sold.

My understanding for properties that come off the affordable house program (particularly ones that are priced sharply like that), is that they are sold via first & final offer once the buyers period ends. As you have suggested - I would expect that one would likely have gone for above the...

I know he's a lending specialist and all, but you know thats not his vehicle right?!?!? :mad::mad:

I had a look around these a couple of weeks ago. As you may be aware they went to auction, but got passed in. They are actually owned by seperate vendors, but both are open to selling them together through the REA. The tree in the back yard of #48 is quite big (probably significant). Speaking...

I notice that you can buy your back yard back too, for those concerned about valuation of semi's that have been subdivided. http://www.realestate.com.au/property-residential+land-sa-elizabeth+downs-201109615

It is common in SA to include a 'And/Or nominee' clause, so no issues in that respect. Just had a look through the photos for that pair of semi's, if you have a look at the rear of the property, there seems to be a distinct lack of copper/HWS on the side with a rear photo. I'd imagine a pair...

Toff - may I ask what makes that particular place so appealing? Excuse the dumb question, I'm trying to learn about the area & how to pick the good properties! Is Elizabeth East considered once of the better areas?

I feel I've missed out on some important news - everyone seems to be be spruiking OD again?

Do you have a link for that pair? The last two sets of semi's on Johnston st that I saw both went to auction (the first one got 265k if I recall correctly).

I was seriously looking at a house 1 street over, in that area. Probably one of the worst areas I've looked at (with the exception of some of the streets in dav park). The house on Yorktown was about that price range (and probably needed less work). Obviously on a main road though.

You're right, I missed that these are 600m2+. As you correctly alluded to, the majority of the new builds are around 3-400m2.

If someone has too much time on their hands, it would be interesting to go through that list and look at how many of the 200k+ sales where new/recent builds.

Or alternatively he may have just bought well?

In all honesty - I think a lot of investors bite off more than they can chew in this area. Low weekly amounts mean that things like rates, insurance ect is a high percentage of costs. High risk of poor tenants & many of the houses have significant movement in the foundations after only 40...

Apparently Frankston has a high percentage of developable blocks, compared to the general Melbourne region. I personally think that Elizabeth is going to be in struggle land once Holden closes down. The last big manufacturing company to move out. Combined with Adelaides net migration not...

Sounds like a pretty accurate sample? Although their car didn't get stolen.....

Seems like a random place to visit? Bez23 - it looks good!

Want to sell your tenants? :P I've got my first Liz place settling next month. Wish me luck!

Congrats! About time though :) Hopefully the vendor may twist the arm of the rea for the other place.