any advise on buying in sa - morphett vale
- Thread starter amz
- Start date
Hi amz
I just settled on an IP in Morphett Vale this month. I originally spent weeks looking around Elizabeth, but you can now buy in Morphett Vale for almost the same as what they are asking in Elizabeth, and I think Morphett Vale is a nicer area so attracts slightly better tennants. Having said that there are still some undesirables down south not sure if they are located in certain parts of Morphett Vale just mixed in there, either way as price goes up and rent goes up these people will move futher south so as an IP probably not too much of a concern if holding for the long term.
BTW: South is selling as fast as the North. First open on a house was going for $239,000 so we offered that and it sold that day for $265,000, so you might need to be prepared to offer above advertised price just the way it is in Adelaide at the moment.
Dont have the crystal ball for capital growth, but hold for the long term dont think you can go wrong.
Good luck with you house hunting
Ian
I just settled on an IP in Morphett Vale this month. I originally spent weeks looking around Elizabeth, but you can now buy in Morphett Vale for almost the same as what they are asking in Elizabeth, and I think Morphett Vale is a nicer area so attracts slightly better tennants. Having said that there are still some undesirables down south not sure if they are located in certain parts of Morphett Vale just mixed in there, either way as price goes up and rent goes up these people will move futher south so as an IP probably not too much of a concern if holding for the long term.
BTW: South is selling as fast as the North. First open on a house was going for $239,000 so we offered that and it sold that day for $265,000, so you might need to be prepared to offer above advertised price just the way it is in Adelaide at the moment.
Dont have the crystal ball for capital growth, but hold for the long term dont think you can go wrong.
Good luck with you house hunting
Ian
Hi Ian,
THanks well actually looked all over Adelaide and I believe being south and near the coastline will deliver strong growths long term. I am looking for new-ish properties for tax benefits and the lowest I can find is $280K so it has already gone up! I am in Sydney so will have to fly to SA to check out some potentials. Where abouts is your property? In a good part of Morphett Vale?
morphette vale is a huge suburb , containing some really nice areas and some really daggy areas (large amount of housing trust), so be carefull about which part you buy in.
i have had 2 lots of tennents in my ip there , and both have been really good , no problems renting the place out at market value.
it is very much a buy and hold sort of suburb at the moment , you wont see the quick growth elizabeth has experienced , but long term im sure it will be all good
christies beach is pretty expensive now , and christies downs is a dive , i wouldnt buy there.
my 2 cents
i have had 2 lots of tennents in my ip there , and both have been really good , no problems renting the place out at market value.
it is very much a buy and hold sort of suburb at the moment , you wont see the quick growth elizabeth has experienced , but long term im sure it will be all good
christies beach is pretty expensive now , and christies downs is a dive , i wouldnt buy there.
my 2 cents
like i said , it is a huge suburb , the largest in the state , but as a general rule of thumb , east of main south road is better than west , but that is not to say there are not some nice places west of main south rd , but in general i think you will find mine is a fair call , though i would steer clear of properties on states rd , again just my 2c
