Adelaide Inner Suburbs

With the 'Elizabeth thread' being the only other active thread about Adelaide, thought I might spur some discussion about Adelaide's inner suburbs.

What is everyone's thoughts? Whilst I struggle to see much upside in the short term for CG, there certainly are some excellent properties on the market, though more from a PPOR perspective.

With the redevelopment of the Northern end, I can see Prospect to boom onward, whilst I'm finding Norwood/Kensington/Burnside to have matured somewhat.

So is there anyone else with an eye for the inner suburbs? Any for an IP?

Or are we all too busy creating our own little Elizabeth fiefdoms! ;)
 
I think Prospect, Mile End and Torrensville are cheap when compared to other suburbs of similar calibre properties (the difference is mostly snob factor imo).

You can get very nice renovated character homes on 600+ sq block in these suburbs for under 700K.

Infact I think Medindie and Fitzroy houses are cheap when compared to Norwood/St Peters/Kensington - both suburbs are highly desirable, border on the parklands, and are a short walk to the city.

Lots of gentrification and development has been happening on Prospect Rd. and Henley Beach Rds. for some time now and is making a huge difference to these areas, except pricewise it seems :confused:.
 
Snob factor demands a high premium in Adelaide. :)

Keeping my eye on the Prospect Rd redevelopments, it is good to see the area mature. Out of the inner ring, I'd put my money on Prospect for investment potential, but for PPOR I'm still drawn to the Eastern suburbs. Read into that what you will. ;)

Parkside is another area I can see being a good area to hold property in the long run, but the prices there seem to show that people are well aware of that already!
 
Depends if you are looking for PPOR or Investment, I'v been pouring over the Greater Adelaide 30 year growth plan, interesting reading!

www.plan4adelaide.sa.gov.au

Particuarly the regional targets and directions provide maps which give you a detailed area break down where infill redevelopment is going to take place over the long term, and where greenfields subdivisions are being researched.

If you are looking for nice low density living for you PPOR you'll get a good idea which areas will be left alone and where areas will be built up- eg along strategic transit routes.

In my oppinion Elizabeth has limited potential for capital value increases due to the long term greenfields releases being researched in Bolivar/ Angle Vale/ Virginia etc, althought rental vacancies will remain low due to the vast bulk of industrial land being released will also be in the North.

My hot tip for investing with a focus on subdividing is inner north: Klemzig/ Enfield/ Blair Athol/ Broadview.

Just my 2 cents
:)
 
I was looking into Mile End and Torrensville recently and got a Residex report with a prediction of future growth for the area.

It wasn't very high... < 3%... does anyone know how Residex comes up with their CG predictions? Apart from using a crystal ball...
 
Hrmmm got a client a Residex report just last week for an Adelaide property, CG projections looked a little out of whack. I would assume that with the market gyrations over the last 24 months, the technical analysis + algorithms they would be using would have difficulty accurately projecting sentiment and pricing precisely.

A quick look at the report puts 'worst case' growth over ten years at -20% and best case at +30%! 50% swing margin doesn't give a strong vote of confidence in any estimation. :)

I'd think the financial pressures currently being seen abroad coupled with a cooling market would create some interesting triggers for estimations.
 
My choice for one of the inner suburbs around Adelaide, may be a little too far out to call inner at just over 8 Km's but I like the Western side of Greenacres.
 
Adelaide

My picks of Adelaide may not be inner suburbs as such but are Warradale and Glengowrie? You can walk to the beach, most blocks over 700sqm and can be developed, 2 mins from Westfield and new swimming complex, 10 min drive into the city (if you must), plenty of private and good public schools, trains and buses. Ticks all the boxes to me!!
 
Mind boggling really, that price. When I hear Brompton, I always have images of soil contamination conjured up in my mind! Just doesn't have that appeal to me. :p
 
Mind boggling really, that price. When I hear Brompton, I always have images of soil contamination conjured up in my mind! Just doesn't have that appeal to me. :p

Totally agree, if your buying in and around any of the older commercial/industrial properties. Some of these properties in these areas may take decades to finally be pulled down and be rebuilt with something at the least pleasing to look at. So many residential properties are still adjacent or opposite absolute crap & who knows for how long. A bit too much of a gamble for me.
 
Seeing how near CBD developments have been done recently I don't hold much interest in the Brompton, St Clair type developments. No dwelling set back matched with very little yard and high land prices just doesn't do it for me. I spent some time looking at the Brompton redevelopments around Hawker/Chief St corner. Looks good when the warehouses are pulled down and there's some open space for a bit but once built on and there isn't any median strip or front yards at all it doesn't appeal.

Anyone been out to St Clair for a look at the display homes? How bad is the road into there from Torrens Rd? No decent junction on that corner, getting out of there towards the CBD is awful and no one lives there yet.

I expect the new Brompton development to feel the same. The brochures will look nice but once it is built up you're left with a dwelling that feels like it is in the CBD rather than a suburb and the land has cost a bomb.

Makes the land in the Eastern Suburbs seem cheap!
 
Well that is essentially what it comes down to for me. When you're talking about shoebox houses on old industrial land being comparable to character Eastern suburb properties, I think there is some unrealistic expectations.
 
What are peoples thoughts on the suburbs of Tranmere, Hectorville, Firle, and surrounds? Live in this area, and would like my next PPOR to be around here, perhaps closer to Maylands/St Morris/Evandale etc.

They are fringing the exclusive suburbs of Kensington/Burnside, do you think there is scope for much growth as you can still find large parcels of land there?
 
What are peoples thoughts on the suburbs of Tranmere, Hectorville, Firle, and surrounds? Live in this area, and would like my next PPOR to be around here, perhaps closer to Maylands/St Morris/Evandale etc.

They are fringing the exclusive suburbs of Kensington/Burnside, do you think there is scope for much growth as you can still find large parcels of land there?


I think the standard flow on effect in prices will apply there.

Imo, those suburbs achieved their 'big' growth, that factored in block size and proximity to exclusive suburbs, some years ago.

Brother owns 2 development blocks in Hectorville (I should say one as he developed one a couple of years ago and has kept 1 of the houses) so i am familiar with the area, and it's progress over the years.

In regards to development, I believe it's more expensive to build there than it is to buy established, atm.

Brother sold off one villa to a couple last year that later stated, they got a lot more house and features buying near new established, than if they bought a block themselves and built.

He comfirmed that they were right (he bought his 1000sq blocks for under 90K many years ago and is a builder).

Something to take into account if looking to invest there.
 
Went to the auction for this property today http://www.realestate.com.au/property-apartment-sa-adelaide-110906215 which had no registered bidders. I was snooping around and found some paper which I believe had the reserve price on it. Pretty pretty surprised at how low the reserve was if it was correct. Do you think anything like this has potential if you get it for a good price? Obviously being heritage you could never do anything with it, but in years to come and with the city hopefully growing, with it being quite a unique unit would that be a positive?

Note its only the lower level underground, but still felt very open.
 
Seeing how near CBD developments have been done recently I don't hold much interest in the Brompton, St Clair type developments. No dwelling set back matched with very little yard and high land prices just doesn't do it for me. I spent some time looking at the Brompton redevelopments around Hawker/Chief St corner. Looks good when the warehouses are pulled down and there's some open space for a bit but once built on and there isn't any median strip or front yards at all it doesn't appeal.

As I understand it, the new development next door in Bowden is meant to have a large park somewhere in the middle of it. That development is aimed to be higher density housing and commercial development, so mainly townhouses and apartments - don't think any detached homes are being built as part of the development. More about convenience than the traditional suburban home.

Will be interesting to see if the incoming stamp duty exemptions on this development will do anything for sales.

Anyone been out to St Clair for a look at the display homes? How bad is the road into there from Torrens Rd? No decent junction on that corner, getting out of there towards the CBD is awful and no one lives there yet.

Yeah, that road is pretty horrible particularly at school beginning and ending hours - and that was last year when I was still living in Adelaide. Can only imagine how bad it is now with more homes. There's meant to be a second connection to Torrens Road, one to Cheltenham Parade and another one to Woodville Road adjacent the train station.
 
Went to the auction for this property today http://www.realestate.com.au/property-apartment-sa-adelaide-110906215 which had no registered bidders. I was snooping around and found some paper which I believe had the reserve price on it. Pretty pretty surprised at how low the reserve was if it was correct. Do you think anything like this has potential if you get it for a good price? Obviously being heritage you could never do anything with it, but in years to come and with the city hopefully growing, with it being quite a unique unit would that be a positive?

Note its only the lower level underground, but still felt very open.

I remember that place. Used to walk past it just about every day. If it's only the ground floor, whats upstairs? Is there another unit?

And how are the semi's going so far? Early in the game, but I do have a client looking into buying a pair in the near future.
 
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