Adelaide southern suburbs... Is it worth buying? Suggestion?

Looking for suggestion...?
we are looking at buying another property around Noarlunga- close to hubby's work. The plan is to buy, move in ( we are renting at the moment) and rent it out when we go back to Melbourne early next year. Not sure if we should spend $250k-$270k for 3/1/1 bigger land in Christie downs/Morphett vale area or $300k-$320k for Seaford, Christie beach, o'sullivan beach property 3/1/1 that may have smaller land? Would really prefer capital growth within the next 12-18 months. We were thinking of holding back our cash to buy another home when we return to Melbourne. Is the area worth investing, which option is better value? Or the alternative I guess is to do nothing until we move back to Melbourne.
 
Thanks D.T I have read that post and you seem to know Adelaide really well! :)
The Morphett vale area we have been looking at is close to the Christie downs( beach road) area too giving the budget...... Would prefer to be closer to the reynella expressway but it is often more than what we want to spend...
 
I have an interest in developing so I'm biased- but for what it's worth my vote is for Morphett Vale/ Christie Downs on bigger blocks of land (try to find as flat as possible with wide frontage), that way you have subdivision potential (even if you don't contemplate this option for now, who knows how you might feel in 10-20 yrs time....

For ease of holding when you return to Melb. aim for neutral/ positive cash flow. So again my vote is the cheaper houses with a bit of 'fix her up' potential for better rent return.
 
Something like :

this one caught my eye, big block, fairly flat land for the area, short walk to the train stop, Mortgagee in Possession -could try lowballing on the price...

http://www.realestate.com.au/property-house-sa-christie+downs-119386011

Seems a bit over priced compared to http://www.realestate.com.au/property-house-sa-christie+downs-119265887 ? I didn't have a a thorough look though, so could have missed something.

If it were me (and I did the same at northern end of Adelaide), just hawk the area til you can find something to lowball. All the houses there rent for high 200s - low 300's, so choose your preferred yield percentage and keep hunting til someone accepts a price that suits.
 
just keep asking

lowball.png

cue limbo song
 
Thank you Erica and D.T, we will be out looking at some houses this weekend. Big lands will be good so our kids can run outside and enjoying this beautiful Adelaide sun. Let's hope for good future in Morphett vale n Christie downs :)
 
Hi, some additional info to mess up your head.

My sister bought a house for just over 10K in Christie Downs in the bad old 70s. Sold for 30K ten years later to upgrade to Seacombe Heights then sold for 104K in the bad 90s to upgrade to Hawthorndene.

They always thought Christie Downs were the pits. Socioeconomically, Morphet Vale may not be a long way away.

I think if you could find a comparably priced property in Noarlunga or Seaview, it might be a 'better' property.

This is my personal prejudice. BTW, I've been to these places when I was looking in 06 and 07. I always regretted not buying the one in Christies Beach but instead I put it on this forum and someone from Sydney bought it. It's in Gulfview Rd.

Good hunting, oh, and I've more or less stopped looking since I've stopped buying since 06.

KY
 
I guess it comes down to how long you're looking at holding the property for. In the short term you'd get higher rental returns from Seaford and a better house but on a smaller block. If you do invest in Seaford stay away from Seaford Rise because the houses are literally roof top to roof top. There's also plenty of Housing Trust properties throughout Seaford but they just aren't as noticeable as the ones in Morphett Vale/Christies.
 
I bought a 3br place in Morphett Vale for $190k at beginning of May.

I've done a mainly cosmetic reno on it over the last 3-4 weeks - spent a bit under $20k. New kitchen, paint, electrical, some plumbing, curtains, floor coverings, landscaping etc. Place was disgusting, hence the price.

I would estimate it being worth maybe $270k-$280k now.


Having trouble with pics.
 

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Looking for suggestion...?
we are looking at buying another property around Noarlunga- close to hubby's work. The plan is to buy, move in ( we are renting at the moment) and rent it out when we go back to Melbourne early next year. Not sure if we should spend $250k-$270k for 3/1/1 bigger land in Christie downs/Morphett vale area or $300k-$320k for Seaford, Christie beach, o'sullivan beach property 3/1/1 that may have smaller land? Would really prefer capital growth within the next 12-18 months. We were thinking of holding back our cash to buy another home when we return to Melbourne. Is the area worth investing, which option is better value? Or the alternative I guess is to do nothing until we move back to Melbourne.

If you can buy at Christies Beach with larger block then you could also redevelop or sell on to developer?
 
yeh good buying Nemo...looks pretty good. 70 odd k in equity for a months work aint bad. Did you do your own benchtop?

i agree there is still some good buys down there, this, and this look like good value, both recent auctions . I bought this one in jan..not too bad tho maybe in hindsight could have done better.
 
yeh good buying Nemo...looks pretty good. 70 odd k in equity for a months work aint bad. Did you do your own benchtop?

i agree there is still some good buys down there, this, and this look like good value, both recent auctions . I bought this one in jan..not too bad tho maybe in hindsight could have done better.

Not bad at all :)
 
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