Good news for those that invest in Adelaide
http://www.news.com.au/adelaidenow/story/0,22606,25724856-5006301,00.html
http://www.news.com.au/adelaidenow/story/0,22606,25724856-5006301,00.html
Adelaide Surge
- Thread starter Monty Burns
- Start date
Monty, it's exactly what we are seeing on the ground. Sub dividable blocks, especially in the <$400k price range, have been steadily increasing in price. There has been no fall at all. I'm mainly interested in the inner (within 10km to CBD) north eastern suburbs and the old fibro houses on big blocks I doubt are targets of the typical first home buyer so I don't think the FHOG (or FHOB) is having any influence on these sites.
Sure is interesting times. Decent two bedroom units under $250k certainly are hard to find now too so prices are strong in that category too.
Gools
Sure is interesting times. Decent two bedroom units under $250k certainly are hard to find now too so prices are strong in that category too.
Gools
Hi, bugger, bugger, bugger. What do we do now?
My agent told me he received an offer for my house sitting on the market for 7 months with not much interest.
And while painting the shops, I kept having to show people through.
So, bite the bullet & pay the price for what I want?
KY
My agent told me he received an offer for my house sitting on the market for 7 months with not much interest.
And while painting the shops, I kept having to show people through.
So, bite the bullet & pay the price for what I want?
KY
Makes perfect sense (or is that cents!), Olympic Dam is the biggest Uranium mine in the world. When the expansion is completed it will produce as much as 50% of the world total produced in 2008.
KY, can you expand on your post a little bit.
Where is this house you have for sale located?
What's the bit about paying the price for what you want? Are you looking to buy again but think they are too expensive? If you are buying a decent amount of land for a good price then I wouldn't have thought there is much to worry about in Adelaide. Rents are holding up and interest rates are low.
Gools
PreAu, going by what everyone is saying about the >$500,000 properties having reduced in price a bit but the Adelaide Suburbs median prices have been holding up then that would indicate the properties <$400,000 have actually increased in price?
I think the main reason as far as I see it is the risk. I much prefer owning a few $300k properties than a single $1000k property. Means there are 3 different tennants rather than the risk of the single property being vacant. Also for $350,000 you can get nice development blocks rather than spending $1,000,000 on a site and have all sorts of finance difficulties and risk trying to develop it.
More cheapies here we come! (While they are still available
)
I think the main reason as far as I see it is the risk. I much prefer owning a few $300k properties than a single $1000k property. Means there are 3 different tennants rather than the risk of the single property being vacant. Also for $350,000 you can get nice development blocks rather than spending $1,000,000 on a site and have all sorts of finance difficulties and risk trying to develop it.
More cheapies here we come! (While they are still available
)Hi, I'd been quite conflicted by all the different viewpoints.
The property for sale is in the Port Adelaide area, low end [300s]
I'm looking to buy a Californian bungalow. Looked at some. All I looked at sold, notably the one on Greenhill Rd, a bit above my budget of $400000
I've seen another one in the mid 4s. May have sold.
One in Torrensville bidded to 520K while I was busily calculating whether I could put my hand up at 450. Everyone's mouth was open!
I find it very hard to see Adelaide median at 500000.
KY
The property for sale is in the Port Adelaide area, low end [300s]
I'm looking to buy a Californian bungalow. Looked at some. All I looked at sold, notably the one on Greenhill Rd, a bit above my budget of $400000
I've seen another one in the mid 4s. May have sold.
One in Torrensville bidded to 520K while I was busily calculating whether I could put my hand up at 450. Everyone's mouth was open!
I find it very hard to see Adelaide median at 500000.
KY
KY,
The port Adelaide area is a little bit "smelly" at the moment with all the dramas about the Newport Keys development. Just check comparable sales and price your property correctly. There is no way it should have been on the market that long. Price it right and it will be out of your hands.
Torrensville is a strange one, plenty of places get sold with the same reaction. I guess the closeness to the CBD is a really powerful asset.
Californian Bungalow on Greenhill Rd. Now you have got my attention. How much land did it have?
Gools
The port Adelaide area is a little bit "smelly" at the moment with all the dramas about the Newport Keys development. Just check comparable sales and price your property correctly. There is no way it should have been on the market that long. Price it right and it will be out of your hands.
Torrensville is a strange one, plenty of places get sold with the same reaction. I guess the closeness to the CBD is a really powerful asset.
Californian Bungalow on Greenhill Rd. Now you have got my attention. How much land did it have?
Gools
PreAu, going by what everyone is saying about the >$500,000 properties having reduced in price a bit but the Adelaide Suburbs median prices have been holding up then that would indicate the properties <$400,000 have actually increased in price?
More cheapies here we come! (While they are still available
Not necessary,
Median price is a a tricky one, it is basicaly the price of the middle one of all sales, not much it can tell you the price movement. The average (or mean) of all sales will tell you the true story.
I rather rely on my own research than the newspaper
Not necessary,
Median price is a a tricky one, it is basicaly the price of the middle one of all sales, not much it can tell you the price movement. The average (or mean) of all sales will tell you the true story.
I rather rely on my own research than the newspaper
Agree with you about the median - pretty meaningless other than a nice generalisation. Having said that mean is not much better. This month in Rostrevor 5 x $300k & 2 $1,000,000 sold. Next month 2 x $300k & 5 x $1,000,000 - what's the mean going to tell you?
It's why I may read the headlines, but don't give them much credence.
Bargains still available
Nice to see the news that adelaide is going up, but there are bargains all around. It's amazing to see how property market works. The bargains are under 300K.
Cheers
Nice to see the news that adelaide is going up, but there are bargains all around. It's amazing to see how property market works. The bargains are under 300K.
Cheers
