Adelaide - Any Sleeper Suburbs?

A

ad5

When I see any identified hotspots or suburbs predicted to boom, it is often tied to new infrastructure (roads, trains, shopping centres etc) or investments (e.g new mine). Is that where we see the main price jumps in suburbs?

What Adelaide suburbs do you believe are undervalued for what they are already (and eventually become a more popular spot) are or are rapidly changing into something a lot nicer (gentrification)?
 
ad5 said:
When I see any identified hotspots or suburbs predicted to boom, it is often tied to new infrastructure (roads, trains, shopping centres etc) or investments (e.g new mine). Is that where we see the main price jumps in suburbs?

What Adelaide suburbs do you believe are undervalued for what they are already (and eventually become a more popular spot) are or are rapidly changing into something a lot nicer (gentrification)?
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Just like other capital cities... suburbs that are close to nice suburbs but a whole lot cheaper. If you think about it it's been happening alot over the years.

Klemzig didn't use to be very nice, now large blocks gone nice houses are up people love it. Terrible houses on big blocks go for $500k+ when previously they were $300k. Paradise and Campbelltown were the same and are currently changing. Blair Athol is loved by the Afgan community, they are all over anything with a big block. Croyden used to be a terrible area around 5 years ago could get most things for $300k now not enough are sold there and all $500k

Ingle Farm in the north of Adelaide, you can get large blocks easily developed <$300k, median house price $277k. Whereas the next suburb over at Walkley Heights is $466k.

I like the lower to middle end of the market (~$300-400k) as I believe you can find the most buyers who can afford be it PPOR or people buying IP. So suburbs I like Highbury, Ingle Farm, Gilles Plains, Blair Athol, Enfield.

If I was buying now I would start at the CBD and go out til I found my price range I could afford and buy what I can with development potential.
 
Brady said:
Just like other capital cities... suburbs that are close to nice suburbs but a whole lot cheaper. If you think about it it's been happening alot over the years.

Ingle Farm in the north of Adelaide, you can get large blocks easily developed <$300k, median house price $277k. Whereas the next suburb over at Walkley Heights is $466k.

I like the lower to middle end of the market (~$300-400k) as I believe you can find the most buyers who can afford be it PPOR or people buying IP. So suburbs I like Highbury, Ingle Farm, Gilles Plains, Blair Athol, Enfield.

If I was buying now I would start at the CBD and go out til I found my price range I could afford and buy what I can with development potential.
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I like the Northern suburbs of Adelaide myself. Pooraka, Holden Hill, Ingle Farm, Gilles Plains and Para Vista seems to give plenty of value for money.
 
Brady said:
Just like other capital cities... suburbs that are close to nice suburbs but a whole lot cheaper. If you think about it it's been happening alot over the years.
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Yes my thoughts as well. I was thinking coastal, with many of Adelaide's more expensive suburbs along the coast. However the suburbs one back from the beach are a lot cheaper (still <2km of beach) and within easy reach of the amenities of these beach side suburbs (Glenelg, Brighton, Henley).
 
Bentley said:
Lightsview in Northgate is very popular with young people and families. Only 8km out from the city.
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No thanks, all of this suburb is already priced in its location.

But would definitely like any of its neighbours. Northfield, Clearview, Greenacres, Windsor Gardens, Hampstead Gardens, Oakden, Hillcrest & Gilles Plains. Any of these suburbs are still well under priced in comparison to their close neighbours and you can pick up blocks which you can hold now and develop either now for profit or hold... long as you're quick enough.
 
Brady said:
No thanks, all of this suburb is already priced in its location.

But would definitely like any of its neighbours. Northfield, Clearview, Greenacres, Windsor Gardens, Hampstead Gardens, Oakden, Hillcrest & Gilles Plains. Any of these suburbs are still well under priced in comparison to their close neighbours and you can pick up blocks which you can hold now and develop either now for profit or hold... long as you're quick enough.
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Totally agree, lightsview is targeted at owner occupiers hence very low yield. Doesn't mean that you won't see capital growth but it will lag compared to surrounding suburbs. Really nice new estate though, I walk my dog there almost every night :D.
 
ad5 said:
Yes my thoughts as well. I was thinking coastal, with many of Adelaide's more expensive suburbs along the coast. However the suburbs one back from the beach are a lot cheaper (still <2km of beach) and within easy reach of the amenities of these beach side suburbs (Glenelg, Brighton, Henley).
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If you're looking at that direction, just be aware of where the flight paths are !
 
In this industry and with today?s fast communication "Sleeper Suburbs" are a myth.

In today?s market, real estate is a monolithic sloth that demands detail for profit not the flip attitude of yesterday.

In really simple terms finding a property to rent and get a reasonable return in Adelaide is very difficult. In my opinion the risks fare outweigh the rewards. For development options and investment options the north of Adelaide is not a good investment given the Holden decision. It will become the Detroit of Australia.

There are most definitely development opportunities in the inner South and beachside West (probably the best option) and if you have the money East ?North is a no go zone.
 
economist said:
It will become the Detroit of Australia.
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I predict it will have very little effect on employment in the area.

Overall it would be a very small percentage of the jobs in the area, and not all those workers would live in the thick of the northern suburbs (know of 2 past Holden employees who lived in Prospect and Broadview).

The Northern suburbs is reasonably good for jobs and I reckon those that are 'employable' would have no great difficulty finding work. No more than they would anywhere else in Adelaide anyway (it's not that far to travel elsewhere if they have to - infact know a few people who drive out there from the city).

Coincidently I went to the Elizabeth Shopping centre today for the first time in about 20 years. It was very crowded, and it took me some time to find a parking spot - parked some distance out.

That's always a good sign.
 
weg said:
I predict it will have very little effect on employment in the area.

Overall it would be a very small percentage of the jobs in the area, and not all those workers would live in the thick of the northern suburbs (know of 2 past Holden employees who lived in Prospect and Broadview).

The Northern suburbs is reasonably good for jobs and I reckon those that are 'employable' would have no great difficulty finding work. No more than they would anywhere else in Adelaide anyway (it's not that far to travel elsewhere if they have to - infact know a few people who drive out there from the city).

Coincidently I went to the Elizabeth Shopping centre today for the first time in about 20 years. It was very crowded, and it took me some time to find a parking spot - parked some distance out.

That's always a good sign.
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I'm not sure that the shopping centre being crowded on a Thursday is a good sign. Lots of people just passing time not working. Maybe it was crowded because it was centrelink pay day
 
strongy1986 said:
I'm not sure that the shopping centre being crowded on a Thursday is a good sign. Lots of people just passing time not working. Maybe it was crowded because it was centrelink pay day
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I thoutht that.

Regaldless I don't think Holdens closing would have much of an effect on the nothern suburbs.
 
It's funny that a lot of people in Adelaide just assume that holden closure = Elizabeth/ playford downfall. I highly doubt that it will have any negative effects at all as most of the employees earn above average salary and live in Mawson lakes and the likes. If anything the closure is a good thing for the area because it allows other industry to take over the location ( a lot of talk that defence is going in).

I work up at Elizabeth way one out of 6 weeks and I totally agree that the shopping centers are busier than the inner metro ones. And the amazing thing is the amount of people buying things there ( compared to Rundle mall/ Marion shopping center) . I guess that's why they can't afford to buy houses when it's cheaper than renting.

Anyway having the jobs and biggest population growth year after year, you can be the judge.
 
I posted this question in another thread, but seeing it had to do with Adelaide i knew i wouldnt get many answers (i was right), so i thought id mention it in here.

You may have seen the article from Michael Yardney about the state of each capital cities, and a graph showing what stage each market is believed to be in. Adelaide (and Brisbane) seem to be just coming up of the contracting stage, where Sydney/Melb seem to be fairly close to a peak.

Do you believe thats where we are? I havent seen a lot of growth, and if anything some pulling back of prices in the past 12-18 months. If it is in that stage of starting to increase, does it look like as good as it does to me to get on board for some sustained steady growth in the short-medium term?

I see outer north coming back a bit or being pretty flat for a while, with so many house and land packages coming up, and with the massive new development adding to it at Munno Para on Curtis Rd.

One thing i have noticed though is the tightening of the banks, which wont see that boom effect as we felt 4-5 years ago



http://au.pfinance.yahoo.com/our-ex...-by-city-property-roundup-and-2014-forecasts/
 
IFBB said:
I posted this question in another thread, but seeing it had to do with Adelaide i knew i wouldnt get many answers (i was right), so i thought id mention it in here.

You may have seen the article from Michael Yardney about the state of each capital cities, and a graph showing what stage each market is believed to be in. Adelaide (and Brisbane) seem to be just coming up of the contracting stage, where Sydney/Melb seem to be fairly close to a peak.

Do you believe thats where we are? I havent seen a lot of growth, and if anything some pulling back of prices in the past 12-18 months. If it is in that stage of starting to increase, does it look like as good as it does to me to get on board for some sustained steady growth in the short-medium term?

I see outer north coming back a bit or being pretty flat for a while, with so many house and land packages coming up, and with the massive new development adding to it at Munno Para on Curtis Rd.

One thing i have noticed though is the tightening of the banks, which wont see that boom effect as we felt 4-5 years ago



http://au.pfinance.yahoo.com/our-ex...-by-city-property-roundup-and-2014-forecasts/
Click to expand...

My 3PM appointment was a client who has been looking for a new PPOR for last 3 months. Has been missing out on properties; the last two were because people offered unconditional at first open, he also missed out on others due to people offering above asking. He came back to ensure his finance was solid so he could offer unconditional.

From what I've been seeing in the market I believe it's getting a whole lot warmer. I was extremely busy leading up to Christmas/New Year... had 3 weeks off last month and now back to being crazy busy.

I agree with your comments around the Munno Para area, its not going to see CG in my mind anytime soon... way too much vacant land in the surrounds.

But take a look at those inner northern suburbs about 10-15km out Greenacres for example talk about gentrification just jump onto google maps and see how much has been developed and then jump in the car and see the rest which is underway.

I don't think you can go too wrong if you start in the CBD then keep heading out until you can find a block in your price range that is developable. These are what are in demand, these types of properties go well above normal price at auction and what drives alot of the growth.
 
Nice to see some people in the industry in Adelaide on the forum able to give their view on things.

I missed out on a unit a few weeks back as i had my offer subject to finance, where the other party was unconditional. I had the highest offer, but they just wanted it gone. I have since got finance approved, which was harder than i thought after what i had recently gone through (not working for 4 months after being critically ill in hospital/coma). But now i know what i can spend, and this should make it a little easier when it comes to making offers.

Im currently looking for a 2 bedroom unit in which i can do a complete makeover to. Looking <8km of the city, in eastern to inner north suburbs. Going by recent sales it looks like a few are asking too much, with some needing a 5-10% deduction to be on the ball.

Id love to buy and develop, perhaps this can be the next project for my partner and I. She is currently looking to sell her property in the Munno Para area which she built 2 years ago at 21 after some of my advice.
 
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