Adelaide Experts?

[RoyalBlue]

Hi all,

I'd like to hear from anyone who has purchased or knows about the housing belt from Parafield Gardens through to the Salisbury's. I've looked at a few properties in these areas with developlent potential, but not sure if they're
($280K+) overpriced. Parafield Gardens in particular is interesting, borders on the Mawson Lakes development where prices have gone through the roof, sits on the new freeway to Port Adelaide and is 15k from CBD. I know the areas are seen as a bit rough but I see potential through here. Any thoughts?

 

[steveadl]

Yes I think the area has got potential. Recently bought an IP in Salisbury for a family member (although new, not development).

Few quick thoughts:
- Ensure the block is suitable size for future development. A lot of blocks you'll find have small frontages, and in different pockets, the land will be just shy of the 600m2 you want eg. 580m2 etc.
- Try to stick closer to the city.
- Try to be close to shopping centres.
- Away from railway lines (although this is not a deal breaker).
- Suburbs like Salisbury North are experiencing large pockets of gentrification (Haweksbury Park is the name from memory), so if you can buy within these areas, your neighbours will improve around you. Fair bit of greenfields development in Parafield Gardens as well.
- Don't let the 'rough' reputation put you off buying a property if the numbers make sense.

I believe you're thinking is right with Parafield Gardens, although bare in mind - the prices will be unlikely to reach the same level as a totally new development like Mawson Lakes.

You can also check out Pooraka and Para Hills West on the other sides of Parafield Airport for development possibilities.

 

[sash]

Hi Royalblue

I bought in 3br 1bth properties in Parafield Gardens (near rail) and Paralowie for 185k and 190k respectively last Aug (2007). It is hard to find sutff under 225k now.

Whilst Elizabeth has gone through the roof..I feel that Salisbury and the surrounding suburbs have not had the same growth. Overall the long term these suburbs are predicted to grow about 11% per annum.

I agree with you once the freeway is in and Defence moves their staff their it should rocket.

Hi all,

I'd like to hear from anyone who has purchased or knows about the housing belt from Parafield Gardens through to the Salisbury's. I've looked at a few properties in these areas with developlent potential, but not sure if they're
($280K+) overpriced. Parafield Gardens in particular is interesting, borders on the Mawson Lakes development where prices have gone through the roof, sits on the new freeway to Port Adelaide and is 15k from CBD. I know the areas are seen as a bit rough but I see potential through here. Any thoughts?

 

[RumpledElf]

I agree with you once the freeway is in and Defence moves their staff their it should rocket.

Where are defence moving from? I was under some vague impression they'd already been in Elizabeth for decades ...

 

[Pushka]

ASC will increase their manpower significantly in the next five years. Not sure if engineers are planning to live in the Parafield areas but Mawson Lakes is a definite possibility.

 

[steveadl]

I've heard different reports as to how many are coming down, but last one I heard was they're moving two army batallions onto the Edinburgh base. I think about 1000 men each + their families, but that's just a guess from memory.

 

[sash]

That is also what I have heard. Believe it is so that they can ship troops directly to Darwin.

I've heard different reports as to how many are coming down, but last one I heard was they're moving two army batallions onto the Edinburgh base. I think about 1000 men each + their families, but that's just a guess from memory.

 

[Angelo]

Hi RoyalBlue

Parafield Gardens probably isn’t a bad spot for steady growth. I can’t see that it would be explosive growth, however, there are factors which will help it. These factors would include the recent change to the urban boundary as well as the construction of the northern express way. This is probably going to have the effect of stretching metro Adelaide further north. This could result in the lower socioeconomic group migrating further north, away from the Parafield gardens and Salisbury areas. This would be longer term however. You may want to look in the Salisbury areas too. I agree with Steve’s comments about buying a reasonable sized block. I’d be looking at about 700m2, watch the frontage too. Current median for Parafield Gardens is 260k. 19.3% growth in the last year.

All the best