Adelaide - Lakeside, Blakes Crossing or Munno Para West etc?
- Thread starter tentliven
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I built a[place in Munno Para West approx 12 months ago and I'm happy with the gains so far. House and land cost approx 220k, now valued at 250k. Absolutely no problem with my tenant...touch wood.
Elizabeth North has been doing very well over the last year, but AF and MPW also do well.
Good LL insurance policies are not available 'only' through good Property Management agencies Xenia A good insurance broker can get you sufficient cover as well. And little surprised at your attitude to the northern suburbs - yes they have a larger share of problems than further south, but nothing that can't be taken care of with good PM, insurance, good vetting process etc. New areas in particular like MPW and AF which the OP was asking about are already miles ahead in quality of tenant. Capital growth is too good to lump it into the "too hard" stereotype pile.
Good LL insurance policies are not available 'only' through good Property Management agencies Xenia
A good insurance broker can get you sufficient cover as well. And little surprised at your attitude to the northern suburbs - yes they have a larger share of problems than further south, but nothing that can't be taken care of with good PM, insurance, good vetting process etc. New areas in particular like MPW and AF which the OP was asking about are already miles ahead in quality of tenant. Capital growth is too good to lump it into the "too hard" stereotype pile.Thanks for the replies everyone.
However I am still torn between Elizabeth, Andrews Farm / Munno Para or the new Blakes Crossing development from Delfin - they made Mawson lakes
I am guessing Blakes Crossing is best but I don;t want to wait 4 years for it to all get popular / expensive - right now its barren dirt
However I am still torn between Elizabeth, Andrews Farm / Munno Para or the new Blakes Crossing development from Delfin - they made Mawson lakes
I am guessing Blakes Crossing is best but I don;t want to wait 4 years for it to all get popular / expensive - right now its barren dirt
OK well if it were me, I would have my choice narrowed down to Andrews Farm or Munno Para West. I'm not overly familiar with Blakes Crossing (I assume that's the new development at Blakeview?), but it's further away from infrastructure (rail, shops, jobs etc) further out and opposite side of Main Nth Rd.
Elizabeth whilst good, is generally all still older. You'll find the odd new pocket of development here and there, but generally you experience better cap growth and desirability from tenants in new houses when it's part of a larger development.
Take a good close look at MPW and AF, compare prices for what you're going to get and go from there. They're both 'new' suburbs, and relatively close to one another and jobs/shops/schools etc. although from memory the new super school is in MPW - don't know if that would influence your decision somewhat.
Elizabeth whilst good, is generally all still older. You'll find the odd new pocket of development here and there, but generally you experience better cap growth and desirability from tenants in new houses when it's part of a larger development.
Take a good close look at MPW and AF, compare prices for what you're going to get and go from there. They're both 'new' suburbs, and relatively close to one another and jobs/shops/schools etc. although from memory the new super school is in MPW - don't know if that would influence your decision somewhat.
Isn't Blake's Crossing the one right on Main North Road? There's certainly signs for it at The Evil Set Of Traffic Lights That Is Never Green (most northern set of traffic lights on Main North Road before Gawler - caught a green light there about twice in the last 5 years) If so, I'd go with that one, its pretty well located and since its newest it'll go up the most.
Phenomenal amount of development out that way, we drive through it every few weeks coming into Adelaide and its different every time you go past.
Phenomenal amount of development out that way, we drive through it every few weeks coming into Adelaide and its different every time you go past.
not sure of your time frame ie, short term but as you probably know none of the 4 mentioned areas are likely to be high capital gain but may offer good yields and if new buildings there will be the opportunity for depreciation.
of the 4 from what is known if you can buy at a good price and the tenancy is well managed growth will follow. the northway project is a mixture of new/knockdowns/and refurbished, but how values will go is a bit unknown.
some adjacent areas do have reports of social problems that may put some tenants off.
the new areas like blakes crossing and to a degree andrews farm are yet to be determined but i agree there maybe issues around not being close to transport.
because of the push to so called affordable housing and social inclusion especially in new housing estates it would pay to proceed with caution. people might be a little nervous about who maybe living next door. new areas have to have 15% allocated to affordable housing.
not sure how this will effect values over time.
the idea is to reduce large groups of welfare type housing in one place and instead to distribute the housing throughout in a scattered/salt/pepper effect. it will be interesting how it will all pan out.
good luck with your investing.
I would stay on the West Side as once the Army Battalion moves in they like to be near work so they can ride a bike or run.
The younger ones will want to be near the train line so they can go into town and party.
Once 1200 cashed up soldiers realise how cheap housing here is they will be buying up.
Elizabeth, if you can get good tenants, good. I know as I quite often drive out there to visit my nephew.
The younger ones will want to be near the train line so they can go into town and party.
Once 1200 cashed up soldiers realise how cheap housing here is they will be buying up.
Elizabeth, if you can get good tenants, good. I know as I quite often drive out there to visit my nephew.
Personally i would choose MPW and Elizabeth North. Good Cg potential, close to infrastructure and you might get cash flow neutral properties in the area.
All the best
Got in at EN
30k cheaper than Blakes Crossing, 20k cheaper than MPW, closer, lots of money being spent in area...
Hopefully I made the right choice. Blakes Crossing will be very nice when finished but it is just a TAD too far IMO to become as insanely expensive as Mawson Lakes.
And the fact I want to get out of EN in a year or two, and not wait 5 years for BC to realistically get nice and developed.
30k cheaper than Blakes Crossing, 20k cheaper than MPW, closer, lots of money being spent in area...
Hopefully I made the right choice. Blakes Crossing will be very nice when finished but it is just a TAD too far IMO to become as insanely expensive as Mawson Lakes.
And the fact I want to get out of EN in a year or two, and not wait 5 years for BC to realistically get nice and developed.
