adelaide
- Thread starter joannep
- Start date
OK, here is my very brief rundown on what I know
It's a cheaper area than the median average for Adelaide, so the rental returns are higher. Has doubled in the last couple of years.
Many ex-trust houses have been sold off as investments.
It certainly is not a prestige high class area but has good investment potential!
Hope this helps Joannep
It's a cheaper area than the median average for Adelaide, so the rental returns are higher. Has doubled in the last couple of years.
Many ex-trust houses have been sold off as investments.
It certainly is not a prestige high class area but has good investment potential!
Hope this helps Joannep
Elizabeth and Surrounds
Hi - i am a Perth investor and just bought an investment in Salisbury, SA. There are guys and gals here who will always know more about the area than I , but on my visits to the area we found that there areas of Elizabeth (it is quite large with Elizabeth Vale, South, East, North etc) that were very run down and in need of some TLC with some public housing that was still "impacting" on the areas in question. Found the Elizabeth City Mall quite an impressive complex and some areas around the green belt surrounding and bordering Salisbury quite good value.
Salisbury North was very nice, with plenty of young families walking the streets in the afternoon and a bit of a community feel. It reminded me of the redevelopment that has taken place in some of Perth' s northern suburbs where we have invested in the past - Balga, Westminster etc. Elizabeth South is quite well situated near the mall and there was some quite nice streets and houses along the rail line for around $150K ish. Elizabeth Vale near the green belt is very nice and the reserve is a bit of an oasis in the burbs!!
We ended up buying near the Salisbury City centre, 800m from Railway station, city centre, cinemas, a few cafes, schools, Tafe, near parks etc. For a double brick solid house on a big block thats below $160K that rents out for $175-$185 and 20km from the city with good tennants, I thought it was worth the effort!!
Just my opinion as always. Hope this helps.
Bully
Hi - i am a Perth investor and just bought an investment in Salisbury, SA. There are guys and gals here who will always know more about the area than I , but on my visits to the area we found that there areas of Elizabeth (it is quite large with Elizabeth Vale, South, East, North etc) that were very run down and in need of some TLC with some public housing that was still "impacting" on the areas in question. Found the Elizabeth City Mall quite an impressive complex and some areas around the green belt surrounding and bordering Salisbury quite good value.
Salisbury North was very nice, with plenty of young families walking the streets in the afternoon and a bit of a community feel. It reminded me of the redevelopment that has taken place in some of Perth' s northern suburbs where we have invested in the past - Balga, Westminster etc. Elizabeth South is quite well situated near the mall and there was some quite nice streets and houses along the rail line for around $150K ish. Elizabeth Vale near the green belt is very nice and the reserve is a bit of an oasis in the burbs!!
We ended up buying near the Salisbury City centre, 800m from Railway station, city centre, cinemas, a few cafes, schools, Tafe, near parks etc. For a double brick solid house on a big block thats below $160K that rents out for $175-$185 and 20km from the city with good tennants, I thought it was worth the effort!!
Just my opinion as always. Hope this helps.
Bully
I've got two properties in the area (Salisbury and Paralowie) and my sister has a property in Elizabeth park. The area is good for IP's as they are cheap, and it is easy to find tenants. There are large companies in the area (most notably Holdens) and also the army barracks, both employee large work forces. The army barrack at Edinbourgh is expanding shortly aswell.
Both the Salsibury and Elizabeth Councils have major works planned for the near future as well, which will be improving infrastructure in the area.
http://cweb.salisbury.sa.gov.au/manifest/servlet/page?pg=12950&stypen=html
Both the Salsibury and Elizabeth Councils have major works planned for the near future as well, which will be improving infrastructure in the area.
http://cweb.salisbury.sa.gov.au/manifest/servlet/page?pg=12950&stypen=html
Joannep,
If you are looking for development opportunities there are, IMHO ,still some undervalued properties available in Christies Beach and Noarlunga ripe for redevelopment.
Seaford, which is a bit further south, also seems to be an expanding suburb, mainly newer housing.
Cheers
Tom
Beach Suburbs
Funny enough we looked at Christies Beach originally - definately a place that has potential. Also found Noarlunga beachside nice.
Unfortunately (or fortunately I guess) I couldn't afford to get into these suburbs at this stage - too much invested in Perth Real Estate!! Everything in Adelaide is cheap compared to Perth now so I guess you need to keep that in mind when looking. I reckon Port Adelaide has some potential too - Rosewater and around there. May be a version of Freo some day.
Bully.
Funny enough we looked at Christies Beach originally - definately a place that has potential. Also found Noarlunga beachside nice.
Unfortunately (or fortunately I guess) I couldn't afford to get into these suburbs at this stage - too much invested in Perth Real Estate!! Everything in Adelaide is cheap compared to Perth now so I guess you need to keep that in mind when looking. I reckon Port Adelaide has some potential too - Rosewater and around there. May be a version of Freo some day.
Bully.
Great to invest in Adelaide but...
Be careful in these areas- like others have said there is lots of Housing Trust areas/ pockets to aviod. These areas are still considered by the majority of people in Adelaide as being too far from the CBD I think your beach idea is a better one- For my tip I'd look at the strip from Henley Beach to Grange and onto Semaphore. Good beaches, good cafes, good golf courses, as well as bargains. Units withing walking distance to the beachare a lot more affordable. For affordable housing both check out Findon and Kidman Park- undervalued as the area is half way between the city and the beach.
Good luck with your search
Be careful in these areas- like others have said there is lots of Housing Trust areas/ pockets to aviod. These areas are still considered by the majority of people in Adelaide as being too far from the CBD I think your beach idea is a better one- For my tip I'd look at the strip from Henley Beach to Grange and onto Semaphore. Good beaches, good cafes, good golf courses, as well as bargains. Units withing walking distance to the beachare a lot more affordable. For affordable housing both check out Findon and Kidman Park- undervalued as the area is half way between the city and the beach.
Good luck with your search
The Elizabeth/Playford area is good for yields, but you do have to be careful in many of the areas.
I've got my eye on that area at the moment, looking for the right property.
I've got my eye on that area at the moment, looking for the right property.
Elizabeth is not a nice place.......................
I lived in SA for a while working in law enforcement and going to Elizabeth it was just really a sad place. Lots of domestics, drugs and violence. The people are really rough and the place just feels blah!
You might get ok returns BUT you also might get an amphetamine lab in your IP kitchen.
Not wanting to quash your dreams BUT it is that BAD. I would suggest you go there yourself and be the judge.
I would try looking at places on the LE FEVRE PENINSULA. Try SEMAPHORE PARK, TAPEROO (still cheap - was rough but getting better!), OSBORNE (also still cheap - was rough but getting better!), LARGS BAY, PETERHEAD, BIRKENHEAD, EXETER, ETHELTON, ETC ETC.
They are all near PORT ADELAIDE and being on a Peninsula they are surrounded by water. I used to help out with PROJECT DOLPHIN SAFE there and there are lots of dolphins and even a seal colony off NORTH HAVEN. The beaches are absolutely beautiful and it is just a really nice area to live in. I had the opportunity to buy my rental property on the beach back in 2000 for $180000 - its now worth close to 1 mill.............. So nice returns can be found.
Stay away from ROSEWATER was public housing and the stigma is still there.
PORT ADELAIDE has long had a reputation for being full of freak's/dole bludgers and most of them live in ROSEWATER or OTTOWAY.
PORT ADELAIDE will only get better with time - a few years ago you couldn't give land away there - get in while you can!!!
Local council's website:
http://www.portenf.sa.gov.au/site/page.cfm
Remember also that ADELAIDE suffers from rising damp - get it checked out.
Oh and also there was a very bad flood in PORT ADELAIDE aI think about 30 -40 yrs ago and all the cellars in the PORT ADELAIDE area flooded over - so check out foundations and structures for safety. Not too mention back in the olden days there was a lot of smuggling going on there and the place is said to be riddled with tunnels underground for the smugglers to get there goods out on the sly. Again check the foundations and council records regarding flooding.
One last thing try the SA Public Trustee website for deceased estate listing -s they can be the best place to get a great bargain in Adelaide.
Hope this has helped
I lived in SA for a while working in law enforcement and going to Elizabeth it was just really a sad place. Lots of domestics, drugs and violence. The people are really rough and the place just feels blah!
You might get ok returns BUT you also might get an amphetamine lab in your IP kitchen.
Not wanting to quash your dreams BUT it is that BAD. I would suggest you go there yourself and be the judge.
I would try looking at places on the LE FEVRE PENINSULA. Try SEMAPHORE PARK, TAPEROO (still cheap - was rough but getting better!), OSBORNE (also still cheap - was rough but getting better!), LARGS BAY, PETERHEAD, BIRKENHEAD, EXETER, ETHELTON, ETC ETC.
They are all near PORT ADELAIDE and being on a Peninsula they are surrounded by water. I used to help out with PROJECT DOLPHIN SAFE there and there are lots of dolphins and even a seal colony off NORTH HAVEN. The beaches are absolutely beautiful and it is just a really nice area to live in. I had the opportunity to buy my rental property on the beach back in 2000 for $180000 - its now worth close to 1 mill.............. So nice returns can be found.
Stay away from ROSEWATER was public housing and the stigma is still there.
PORT ADELAIDE has long had a reputation for being full of freak's/dole bludgers and most of them live in ROSEWATER or OTTOWAY.
PORT ADELAIDE will only get better with time - a few years ago you couldn't give land away there - get in while you can!!!
Local council's website:
http://www.portenf.sa.gov.au/site/page.cfm
Remember also that ADELAIDE suffers from rising damp - get it checked out.
Oh and also there was a very bad flood in PORT ADELAIDE aI think about 30 -40 yrs ago and all the cellars in the PORT ADELAIDE area flooded over - so check out foundations and structures for safety. Not too mention back in the olden days there was a lot of smuggling going on there and the place is said to be riddled with tunnels underground for the smugglers to get there goods out on the sly. Again check the foundations and council records regarding flooding.
One last thing try the SA Public Trustee website for deceased estate listing -s they can be the best place to get a great bargain in Adelaide.
Hope this has helped
Thanks
When someone says "yuck" about a suburb we think opportunity. My wife bought in Balga, WA in 1995 and everyone said she was mad. Full of Housing Commission and bad elements. She paid her $66,000 for the house then - That same house is now worth over $350,000.
Of course you have to look at the pocket you buy in. I was very wary about Elizabeth as well - too many people walking the streets in the middle of the day not working for mine!!! All the suburbs near the water you mention K-Girl are a lot more expensive. Especially Largs and Semaphore!! Rosewater to me looked as though it was going somewhere - heaps of rennos and nicely done period properties are starting to pop up. It has to rise with all the development going on in that area.
When someone says "yuck" about a suburb we think opportunity. My wife bought in Balga, WA in 1995 and everyone said she was mad. Full of Housing Commission and bad elements. She paid her $66,000 for the house then - That same house is now worth over $350,000.
Of course you have to look at the pocket you buy in. I was very wary about Elizabeth as well - too many people walking the streets in the middle of the day not working for mine!!! All the suburbs near the water you mention K-Girl are a lot more expensive. Especially Largs and Semaphore!! Rosewater to me looked as though it was going somewhere - heaps of rennos and nicely done period properties are starting to pop up. It has to rise with all the development going on in that area.
I live in Smithfield Plains, another undesirable suburb not far from Elizabeth.
I have to laugh.
I peruse this site all the time and the constant questions comes up ...... how do you pick the next performing suburb befor everybody else does! How can you make money out of property these days and where are all the cashflow positive properties gone?
And yet, just within this one thread you have some people saying stay away from that area, its full of lowlifes, you won't make money there its full of housing commision homes!
And yet I have read many uplifting stories of people who have 20 something properties worth over 3 million dollars and alot of the time these people have purchased where no one else would dare and 90% of the time its housing commission houses they initially purchased cheap. Later on we read about their inspirational stories and we wish to ourselves..... gee wish I could have found that suburb I would love to be where they are now.
My point people is this. There is a big difference between reading other peoples success stories and wishing you were doing aswell as them and actually taking a calculated gamble and DOING IT YOURSELF. If you wait for a suburb to be perfect then you will already be losing money.
IMHO the Elizabeth area and surounding suburbs will be the next WA. It is still very affordable and rents are high, vacancy rates are low. Big business abounds in the area like Holden, Defence. Don't let the old stigma's influence your investing stratagies. Prices are already going up. It may already be too late as I have seen a few articles and websites espousing the area. The owner of this web site invests in the area for goodness sake. How much evidence do you need?
How do I know these things? I live here and invest here. I just wish I had more income too support more houses.
P.S. I am biased, the more people invest here the higher prices will go, the more I will make on my properties.
I have to laugh.
I peruse this site all the time and the constant questions comes up ...... how do you pick the next performing suburb befor everybody else does! How can you make money out of property these days and where are all the cashflow positive properties gone?
And yet, just within this one thread you have some people saying stay away from that area, its full of lowlifes, you won't make money there its full of housing commision homes!
And yet I have read many uplifting stories of people who have 20 something properties worth over 3 million dollars and alot of the time these people have purchased where no one else would dare and 90% of the time its housing commission houses they initially purchased cheap. Later on we read about their inspirational stories and we wish to ourselves..... gee wish I could have found that suburb I would love to be where they are now.
My point people is this. There is a big difference between reading other peoples success stories and wishing you were doing aswell as them and actually taking a calculated gamble and DOING IT YOURSELF. If you wait for a suburb to be perfect then you will already be losing money.
IMHO the Elizabeth area and surounding suburbs will be the next WA. It is still very affordable and rents are high, vacancy rates are low. Big business abounds in the area like Holden, Defence. Don't let the old stigma's influence your investing stratagies. Prices are already going up. It may already be too late as I have seen a few articles and websites espousing the area. The owner of this web site invests in the area for goodness sake. How much evidence do you need?
How do I know these things? I live here and invest here. I just wish I had more income too support more houses.
P.S. I am biased, the more people invest here the higher prices will go, the more I will make on my properties.
Hi
had to get on the pro elizabeth bandwagon ! this area is a cracker. i came to know this area through the somersoft chat room in 2002. This wonderful lady came onto the chat sharing about houses she owned in elizabeth that had been purchased for 50k renting for $150. per week .. I remember the locals shot her down ... telling her that she was buying in slum areas...that elizabeth was full of termites (true !)...and houses were built on dodgy soil (true again !). Best thing i did...was to listen to that lady and ignore the locals - ...and started buying.... Hot rental market, good capital growth, subdivision potential opportunities : this area will always be in vogue to interstate investors.
On a side note -the history of this somersoft forum has shown time and time again...that when the locals shoot down an area...it will turn out to be boon for investors. The best one i remember... is a person name Tibor ... started a thread on logan, QLd in 2002/2003 - got shot down...by the locals for advocating a dodgy area.... ... the only ones shooting themselves now...are the locals !
WB
had to get on the pro elizabeth bandwagon ! this area is a cracker. i came to know this area through the somersoft chat room in 2002. This wonderful lady came onto the chat sharing about houses she owned in elizabeth that had been purchased for 50k renting for $150. per week .. I remember the locals shot her down ... telling her that she was buying in slum areas...that elizabeth was full of termites (true !)...and houses were built on dodgy soil (true again !). Best thing i did...was to listen to that lady and ignore the locals - ...and started buying.... Hot rental market, good capital growth, subdivision potential opportunities : this area will always be in vogue to interstate investors.
On a side note -the history of this somersoft forum has shown time and time again...that when the locals shoot down an area...it will turn out to be boon for investors. The best one i remember... is a person name Tibor ... started a thread on logan, QLd in 2002/2003 - got shot down...by the locals for advocating a dodgy area.... ... the only ones shooting themselves now...are the locals !
WB
I laugh as well!!
I agree with you.
You either spend hundreds of thousands on a property that has the scarcity factor (water views, beach side land, subdividable near the city etc) and continue to realise capital gains or you buy cheap in an area that has potential that still appreciates due to the usual market forces (first home buyers, government investment in infrastructure, lower median than surrounding suburbs etc). I always choose the latter as getting both factors these days is getting harder and harder. That said I have done this a few times in WA and I that is why I am trying to apply the same principles else where!!
Bully.
I agree with you.
You either spend hundreds of thousands on a property that has the scarcity factor (water views, beach side land, subdividable near the city etc) and continue to realise capital gains or you buy cheap in an area that has potential that still appreciates due to the usual market forces (first home buyers, government investment in infrastructure, lower median than surrounding suburbs etc). I always choose the latter as getting both factors these days is getting harder and harder. That said I have done this a few times in WA and I that is why I am trying to apply the same principles else where!!
Bully.
I still maintain that the Northern suburbs of Adelaide have huge investment potential. Yes the socio demographics of the area are a little on the low income side but remember we are not looking for the best suburb to live we are only assessing investment opportunities.
I own properties in the northern suburbs myself and also manage ones up there for clients. Lower income earners can still make good tenants
I own properties in the northern suburbs myself and also manage ones up there for clients. Lower income earners can still make good tenants
