Adelaide Inner Suburbs

CJay said:
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?
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I think there are only the 2 in that townhouse, and I've seen at least one of them on the market before, the last time about 2 or so years ago (I think the same one that's selling now) - don't know if it ended up selling or got pulled.

I think that might be the only one not intact in that block as well - I 'know of' one of the other residents that lives in another townhouse there, and hers is still a single home.
 
CJay said:
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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Theres 3 units - 1 underground (which is the one for sale), 1 level with the street, and 1 up the top. Theyre all 1 bedroom. Then there are 2 or 3 more exactly the same next to each other.

This one is asking for $500/week but way I recon http://www.realestate.com.au/property-apartment-sa-adelaide-408274371. I know some of the others are rented at around $330.

Couple of previous sell prices - 21/8/09 $390k (same one), 5/8/09 $383 (one at street level).

Semi's - Had a few expensive repairs (total about 6k) that needed doing over the last month but that was really to be expected considering the price I got so did not bum me out too much. There really shouldn't be any surprises now. Apart from that, pretty cruisy, no problems with the tenants which is good. Drove past there last month and as the trend looks like they have moved the living room to the front verandah.
 
Bit of a funny one that one Anon. That building carries a bit of stigma with it + back packers next door + revolving door restaurant on the other side.

At least there are some new buildings going up in the square, wonder what impact the new building behind this one will have.
 
Stay the hell away from there Anon.

Right next door to it is Savvy nightclub, where i played for quite a while. Absolute dinge of a venue with a very unsavory crowd. Friday, Saturday, and Sunday nights people will have to deal with all the noise and violence that it seems to attract.

As a matter of fact, someone was stabbed and killed there Saturday morning.
 
http://www.domain.com.au/Property/For-Sale/Apartment-Unit-Flat/SA/Adelaide/?adid=2009782211

I remember going to the auction to this a few months back which had a $390k reserve, there have been 2 drops and now $325k. On the buyers sheet it has previous pricings and I'm pretty sure the vendor bought at $390k about 2 years ago.

I have been wanting to buy again and get something more inner Adelaide, but any opinions if there is any growth on these iconic units right in the CBD? It seems a lot better priced now. I remember seeing one rented for $315 which was in bad condition and another for $550 which was done to royalty standards.

Previous 'asking' prices:
1/304 NORTH TERRACE, ADELAIDE
July 2012 Auction
June 2011 $385,000 - $420,000
January 2008 $300,000 Mid to High
January 2008 UNDER CONTRACT
November 2007 $300,000 Mid to High
 
1/304 north terrace

terrible location - very busy road - opposite the hospital & who knows what will happen to that site when the new hospital comes on stream in 2014 .. but then again who knows, they may buldoze the lot & extend the botanic gardens .. then $325k really would be a bargain!
 
singingtheblues said:
terrible location - very busy road - opposite the hospital & who knows what will happen to that site when the new hospital comes on stream in 2014 .. but then again who knows, they may buldoze the lot & extend the botanic gardens .. then $325k really would be a bargain!
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Just FYI, the new RAH will open in 2016, not 2014; and then will need time forthe site to be repurposed. I've heard that part of the buildings are heritage listed, so it could be some time.

http://www.sahealth.sa.gov.au/wps/w...health+reform/the+new+royal+adelaide+hospital
 
Just after some advice. I'm a renter and my lease is expiring in about 3 months time. I've been thinking about no longer renting and buy my first PPOR - However I would imagine It would only be a PPOR for 2-3 years where I will likely need something biger. When I do upgrade, I will keep it as an investment property. I do already own 2 cheap maisonettes in Eliz South.

What I'm thinking of is just a small 2 bedroom place (1 for my office) - unit/townhouse likely. It would need to be around the central/west side of Adelaide CBD - Kind of Brompton down to Goodwood (including North Adelaide). And I'm thinking around $350k most, but preferring lower. Even better something internally ugly at a lower price where I can spend money on simple renos - carpeting, walls to increase the value.

Does this sound like a smart plan to have as opposed to continue renting? Obviously the need would be to find an area where is going to have some potential capital growth to make it worthwhile considering it will be an investment property later on.
 
The choice of rent vs. buy is one you'll have to make for yourself, but a couple of things to consider:

Interest and holding costs vs. rent
What do you think of short term property prices
How do you feel about renting overall - Personally couldn't stand renting, there is something about owning your property which gives you a sense of satisfaction and security. Or maybe that's just me. ;)

My punt, older single level groups of units like this:

http://www.realestate.com.au/property-unit-sa-brompton-107754616

If you can get the price down significantly, it could potentially fullfil your needs.

I have seen some units like that go in Renown Park for $235k. Give it a reno and reval at 275k with comparables in the same unit block.
 
Anon_ said:
Recon there is any hope for around Brompton/Bowden anymore?
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What do you mean by this? has this area gone out of favour or are you just saying its fully valued now? i wouldn't want to live there but thought bowden/brompton wouldn't be bad with this whole clipsal redevelopment thing. or have i missed something and the the development has been scaled back/wasn't well received etc??

when looking at a map, it seems like the only inner city that isn't really dear and i had higher hopes for them pulling down that old junk than "might take decades"

would love to hear opinions
 
Not the best reason for choosing to buy in the CBD or Bowden but may be worth considering, but there's stamp duty exemptions on new units/apartments in those areas until the middle of this year.
 
Ive seen a lot of the new Bowden townhouse plans and they are so overpriced. They have wacked at least a $50k premium compared to others in the area which are now only a couple years old. The builds look exactly the same also.

And.. anyone have anything in Norwood? I had been looking at a some 1 or 2 single units which can be picked up at around 200-250k and should be easy 250-300/week rent.
 
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