Adelaide suburban equivalents

Joeyv said:
Not sure if you what you want exists. You want cash flow neutral with good capital growth, close to the city and not Elizabeth area?
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Yup. A *lot* of the inner suburbs of Adelaide is sub 4% yields and already priced strongly. Outer suburbs can be around 5% but development makes the investment potential strong.

I'd say the most unique thing about Adelaide besides a relatively low median IS the 8% yields of the outer areas.
 
Places like Prospect have already had strong growth IMO and won't see anything in next few years.

Even further out like Enfield, Pooraka are demanding high prices
 
Joeyv said:
Places like Prospect have already had strong growth IMO and won't see anything in next few years.

Even further out like Enfield, Pooraka are demanding high prices
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Prospect will either go nowhere, or to the moon. I'm hoping for the former for now. :)

Enfield is overplayed as if Pooraka, where certain demographics are paying top dollar due to local communities being prevalent in the area.
 
See Change:
It seems we have many actions in common. During 2008 and 2009, we were buying in Sydney when it was much cooler than today's Adelaide market.

Now, one of my investment has triple its value comparing to the purchase price in 2008.
The suburb I live, Westmead, has no house for sale now in RE.

Last year, I also bought some in Brisbane.

Few months ago, I bought 3 houses in Adelaide which has total value less than one house's value in Parramatta. I intend to buy 3 more, but my wife falls into pregnant. So, I stop buying more.

Just look at the history, the growth in Adelaide is very similar to other cities. Everything is cheap and basicly it costs nothing to hold them.

Always, if it is not because of land tax, I am still prefer buying in Sydney as I can buy much better with development potential. For all interstate purchases, I always choose brick solid houses in order to reduce the maintenance.
 
I see lots of potential in different sections of Adelaide, the biggest key I see that's common across all is best growth seen where block has development potential.

Areas like Ingle Farm, Clearview, Northfield, Blair Athol - neighbour much better suburbs like Northgate, Oakden, Walkley Heights, Broadview

Areas like Highbury, Paradise, Dernacourt, Campbelltown have Athelstone, Rostrevor and Tranmere.

Vale Park right next to Walkerville
 
This is a good conversation.
Seems like the inner suburbs are already at the stage where the rents can't keep up with the values = low yield. Pity, that's where I'd like to buy.

Adelaidians, am interested in whether there are any pockets that are attracting particular ehtnicities e.g. like Leichhardt-Concord-Croydon used to be for Italians; Cabramatta for Vietnamese; Harris Park for Indians; Lakemba for Lebanese; Burwood-Strathfield for Koreans and so on.??

This can be off-putting at first but have found that it puts these places on the map and they later develop very well. I love places like this. Any equivalents?

Wattle
 
Blair Athol / Kilburn - loved by Middle Eastern. They have done some nice things shops are pretty vibrant with foreign groceries etc
 
spicy suburbs have a lot to offer - especially as you pointed out that it's close to a highly regarded area. Will put it on my radar - thanks
 
I think Adelaide is too small to buy a property and speculate a certain ethnicity will pay a premium price for it.

Anyone will live wherever they can best afford..
 
Joeyv said:
Not sure if what you want exists. You want cash flow neutral with good capital growth, close to the city and not Elizabeth area?

I suppose it depends what you mean by cash flow neutral...do you mean so rent covers minimum repayments of 80% of principal +interest loan ?
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My comment was " as close to cash flow neutral " . I may be wrong , but my understanding would be most people ( long term forumites ) would be referring to interest only loans in this situation. Very few admit to having P & I loans . None of our borrowings are P & I .

Haven't said I wouldn't look at elizabeth.

My aim in this thread is to get an overall feel for the adelaide market .I have a working knowledge of Syd, Melb , Bris, Hobart and most of costal NSW , Q'land but minimal re Adelaide . Perth's to far ...


Cliff
 
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Joeyv said:
I think Adelaide is too small to buy a property and speculate a certain ethnicity will pay a premium price for it.

Anyone will live wherever they can best afford..
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Joeyv I disagree.

I have Middle Eastern client's who continuously tell me that Blair Athol / Killburn are loved and they will pay a premium to live there. Have you been to Auctions in the area to see who is buying? This sort of thing has happened many times before in Adelaide. Campbelltown area Italians. Woodville Asian. It's not racist it the facts.

Same thing happens all the time, people want to live close to family and friends.
 
Public Schools

Just to add to trendy areas...

Knowing which are the best public schools and the zoning for these schools.

I have clients who are looking to buy near Glenunga just so there young child will be able to go to the school later in life. This also happens all across the country. People will pay a premium to live be it rent or buy to get kids into specific schools.

http://bettereducation.com.au/school/secondary/sa/adelaide_top_government_secondary_schools.aspx

http://www.decd.sa.gov.au/locs/pages/default/hszoning/?reFlag=1


http://bettereducation.com.au/school/Primary/sa/adelaide_top_government_primary_schools.aspx

http://www.decd.sa.gov.au/locs/pages/default/pszoning/?reFlag=1
 
see_change said:
My aim is to get an overall feel for Adelaide , rather than specific time frame or price range .
...

Cliff
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Not much in terms of good news here. General view is that there is not much going for Adelaide. e.g. Adelaide is not really growing in terms of productivity, companies/corporate jobs growth, GDP growth, etc...there seems to be a brain drain going on [ especially younger skilled moving to syd/mel/bris]...this is not good at all. Sorry, not at all bullish on Adelaide. The only thing I think it has going for it is that its cheap compared to the other capitals...and its cheap for a reason. I cant see strong and sustained price growth in Adelaide. You will most likely be looking at a very average/low growth and that too for short periods of time. For my money, Id be looking at Brisbane. look at the growth Brisbane is going to have or is underway...new skyscrapers coming up, new business setting up shop, population growing, etc...all at a reasonable price and that is why I think Brisbane is best bang for the buck right now.
 
JDP1 said:
Not much in terms of good news here. General view is that there is not much going for Adelaide. e.g. Adelaide is not really growing in terms of productivity, companies/corporate jobs growth, GDP growth, etc...there seems to be a brain drain going on [ especially younger skilled moving to syd/mel/bris]...this is not good at all. Sorry, not at all bullish on Adelaide. The only thing I think it has going for it is that its cheap compared to the other capitals...and its cheap for a reason. I cant see strong and sustained price growth in Adelaide. You will most likely be looking at a very average/low growth and that too for short periods of time. For my money, Id be looking at Brisbane. look at the growth Brisbane is going to have or is underway...new skyscrapers coming up, new business setting up shop, population growing, etc...all at a reasonable price and that is why I think Brisbane is best bang for the buck right now.
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That's the same reason why many people didn't want to buy in Tassie , when several members bought there in around 2004 . we're happy . block of units for 220 , now worth 450 + and rents is 600 . and it still has negative population growth .:eek:

We already own four IP's in brisbane .

Im not expecting Adelaide to become more expensive relatively , just to keep pace percentage wise . it's slightly later in the cycle .

Cliff
 
Anon_ said:
If you're thinking long term (10+ years), Adelaide should have much better growth than for example Melb/Syd.
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Its too difficult to make this call. Percentage wise, yes probably and that's because its starting from a low base. Dollar wise, no, I don't think so.
 
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