Adelaide Triangle

[buck nammit]

City -> Glenelg -> Port

This triangle should be prime blue chip material. Close to the city. Close to the beach. Yet there's a few average areas. What gives? In any other city (Sydney's Eastern suburbs or Perth's Western Suburbs) these areas are prime real estate.

What is everyone's forecast for these suburbs? Is there more in them? Will they continue to gentrify and grow in the short term?


ps I didn't post this in the Adelaide update thread because it's full of Elizabeth and Sailisbury. I believe this triangle needs it's own thread.

 

[ralph wiggum]

Hello Buck,
Perhaps if you name the areas you consider average, the Adelaide locals can give you a better explanation on why they may be underperforming ie under the flight path etc

Cheers

 

[buck nammit]

It's not really about under-performing. It's more about why prime real estate (ie in between beach and city) are not all exclusively nice upper class areas like they would be in other cities.

 

[Pablo]

Buck,

My triangle looks more like a key hole as I look for properties in a 5-10Km radius of the city and then to the Port and Glenelg.

The reason why some areas in this region are not blue chip material is because they are ex housing trust suburbs, and there are some industrial areas. This will change as the housing trust sell off their properties and the new owners slowly knock them down.

In my opinion it is a very good area to buy in if you can afford to, even the old duplexes are around $280K for 1 side.

Pablo.

 

[buck nammit]

Cheers Pablo.

Pretty much the answer I was after. I recently bought in Royal Park because I too belive short term and long term this triangle is a gold mine. I've always wondered why this prime land isn't filled with the richer suburbs. I too think over time that newly moneyed people will be buying, knocking down and building here.

Do any of these areas have trendy cafe strips etc?

 

[Pablo]

Buck,

Royal park has a fair amount of industrial in one section and smaller working class housing so has been overlooked but has increased in price allot over the last year as people look to the cheaper western suburbs.

Look towards glenelg, henley, and Semaphore for the cafe sort of life. I have been told that Torrensville, Hilton areas are thriving with the international students as well (but I don't get out that way so don't know for sure) and of course if you have loads of money look towards Norwood.

Cheers
Pablo.

 

[cgw]

There does seem to be a few pockets of housing trust, older owner occupiers, but they are slowly getting moved out, selling off. Semaphore Road (shops and cafes) is a nice walk to and from the beach. Lots to do at Semaphore beach for the kids (rides) lots of work occurring at the Submarine Hub.
Larges Bay Hotel, is all done up now and packed outside, when I went on a on a Sunday night drive a few weeks ago. It was dead 2 years ago. So I think the area is starting to pick up, and won't be long before people come to see the beach front, instead of more highrise apartments.

 

[cgw]

I went for a drive there on Easter Sunday and I could not get a close park to stop for coffee. The place was really buzzing with kids rides, shops, cafes, restaurants, stalls, a beach that I could see without apartments blocking the view, lots of kites flying.
A great place for a Sunday arvo - perhaps the new Port is now bringing more people to Semaphore, - the next Glenelg.

 

[TAG]

Ethelton - SA

To the locals - what are your thoughts on this area?

 

[rosewaterwrx]

I bought a property in Rosewater early 2005 and am glad I did as I see this area being one of the more sustainable areas Capital Growth wise (nearish the beach/port developments/classic old style hosing etc) also, over the next yrs I would expect all the development around the port to kinda drive prices up and make the riff raff move out.


Im not overly familiar with the Glenelg area, but hasnt that mostly boomed during earlier yrs?? therefore there'd be a little less left in the tank.


I agree with the previous comments about Semaphore. Only a year ago the place was dead on the weekend, now its much livlier and seems to be drawing a younger cafe/party/ beach crowd.

The Port appears to going a similar way which is all good for me.

 

[Rogo202]

Exeter

I'm a local next door to Ethelton.

I cant see the area going backwards.

(ps. I also was at Semaphore on Sunday walking the dog and watching the kites).

I tend to meet alot of other dog owners on the beach while walking the dog and quite alot come from the Northern Suburbs to walk their dog as its only about 15min down the new expressway to the beach. That can only bring more business to the area.

cheers,

 

[silversands]

Exeter

Nearby Exeter is oozing potential, wait for that ripple effect!
if you would prefer down South, scope out Aldinga and Seaford. Good buying still.

Regards Jodie

 

[steveadl]

I think the port suburbs are good (ie. Exeter, Glanville, Birkenhead etc), especially if you can get a decent sized block that may offer development potential. Even if it's not for development - just a good quality house (hopefully one that has reno potential for added value) will do well in the coming years, due to - as others mentioned - the development at the port, the new jobs with the industry expansion, and the proximity to beach and CBD.

Having said that - for my money, for the same mid $300k range or so - I'd rather be a bit closer to the CBD and for that price have definite development potential. But this is just my current personal preference.

Adelaide growth has/will be slowing in general this year I believe. There are still pockets that are seeing good growth, but overall I'd say we're probably looking at about 10% growth for '08. The challenge is for us to beat that 10% with our individual properties and purchases!

 

[cgw]

New Streetscape for Semaphore Road

Also Semaphore Road, which is the main shopping street is in for a new streetscape in the near future. This is fm the local council newsletter. There is a few more expensive shops moving in, which would be targeting the new locals with money that can afford to buy the clothes, bags, shoes etc.
Even the Larges Pier Hotel has had a make over with its outside dining/cafe area. Lots of people there as well.

 

[Handler]

what are people's thoughts on the outlook for Adelaide in general over the next few years?

People here in Perth are talking about Adelaide gearing up to do what Perth did in terms of the boom associated with the mining, in this case Olympic Dam.

 

[eightgrate]

Glenelg North

Whats people's opinion of Glenelg North? Seems to be a bit of development going on with lots of new homes replacing the post-war homes East of Tapleys Hill Rd. I couldnt believe it when I drove through the other day, its certainly picked up since I was last there. Its close to the beach (0-1.5km) and only 8km to CBD. Older houses on decent sized blocks sell in the 400's.

 

[MarkandTina]

what are people's thoughts on the outlook for Adelaide in general over the next few years?

People here in Perth are talking about Adelaide gearing up to do what Perth did in terms of the boom associated with the mining, in this case Olympic Dam.

Adelaide is very confusing at the moment.

We have the same interest rate issues as the rest of the country, the same concerns about prices dropping, recessions etc, however we have just had 12 months of very good growth and the government is talking about Adelaide in terms of mining booms and defense contracts.

A magazine I read yesterday shows most capital cities halfway through their slowdown but shows Adelaide as being just before its peak. In theory and on the macro scale, this may not be the time to buy, but if you focus on particular areas, eg new public transport routes etc there are probably still pockets of good growth.

I'm undecided as to whether our prices will go up or down 10% in the next 12 months.

 

[Angelo]

Hi Buck Nammit

The triangle you have mentioned is an area I would be keeping my eye on. There are Billions of dollars of transport infrastructure upgrades which have recently been announced for the west, Billions of dollars of defence contracts are going into the port area and billions of dollars of development is happening in the Port area. You would be getting the impression that the state government has a vision for the West

 

[MoreIPs]

Birkenhead

I live in the area, and have been looking to buy in Birkenhead. The other suburbs all took off last 12 months (ie Glanville etc), but this suburb only had 7% and adjoins the Port redevelopment and near Defence.

It is just starting to boom now so I will deffinately be buying there in the next 3 months.

Dont know why most missed this last year?

 

[steveadl]

Yup, I reckon Birkenhead is in the perfect spot for good growth. Only meters away from the new apartments once the construction swings around the northern corner of the water. Plus it's near the defence industry, 5 mins to the beach, and has some great character homes. Pretty hard to find a development site there though, blocks are generally quite small.

I mentioned Birkenhead last year, but I guess no one took any notice if prices haven't moved that much.