Buying in Hackham West SA

new2this

new2this

Hey,
I have recently purchased a property in Hackham West SA, (230k 3bed 1 bath)
I am optimistic about its future with many articles and seemingly respectable property investors suggesting its potential.
Was wondering what everyones thoughts are on the area and its potential CG in the near future?

Thanks for you comments :)
 
Howdy, I am confident about the potential for capital growth, hopefully the expressway duplication will aid somewhat, I bought an IP in Morphett Vale (very close to hackham) a couple of years ago, I've seen prices in the area slide back since then so I believe current values are good buying and in the long run will eventually get back to where they were and upwards.

I personally have lots of friends who have bought their first home in the area (as they were priced out of inner adelaide) and are happy with the lifestyle and surroundings that the area has to offer (they are all employed full time and happy to comute to various workplaces- as far as Port Adelaide for one mate)

I don't think we will see the masive capital growth of the early 2000's due to the tighter lending conditions now, I'm betting CG with track wage growth for the forseeable future.

Can I ask what rent you have achieved for your Hackham West IP? How is the rental demand for the area going?
 
Hey, Thanks for your reply,
I have not reached settlement yet as vendor wanted extra time to move out.

The rental estimate given by real estate was $260p/week but there is only 2 comparable properties currently advertised 1 at $260 and 1 at $280 and I believe my property with an extra Rumpus and Study as well as 3 bed should comfortably return me $280 to $300.
Given that I can only find 2 currently seeking tenants im assuming the rental demand is strong.

Thanks again
 
I have generally heard positive things from Hackham West from a numbers perspective, not so much a tenant perspective! However that's half the game.

Good potential I think, especially if you're entering the market from a neutral/positive cash flow position.
 
There must be a fair deal of ex govt housing stock in this area, as I've looked at a few online in original condition which kitchens and bathrooms have been built with the same materials/finishes.

new2this, what rent did you achieve with your purchase?
 
Hey, I bought a property in huntfield heights afew months ago from the AHS scheme. I'm living in it ATM, I think once some more of the housing trust homes get sold off it will be a pretty decent area. However yesterday, my neighbors and some friends had an old commodore in the front yard and they started driving over it with a 4wd, pretending they were in a monster trucks show.
But I'm hoping they go soon, the domestic disputes are keeping me up -.-
 
RookieLearner said:
Hey, I bought a property in huntfield heights afew months ago from the AHS scheme. I'm living in it ATM, I think once some more of the housing trust homes get sold off it will be a pretty decent area. However yesterday, my neighbors and some friends had an old commodore in the front yard and they started driving over it with a 4wd, pretending they were in a monster trucks show.
But I'm hoping they go soon, the domestic disputes are keeping me up -.-
Click to expand...

:( What is wrong with the world.
 
I know right!
They have 3 old commodores in the front yard, none in working order. Theyre both on the methodone program and their son was just arrested for possession of 60kg of dope. All in a polite 5 minute conversation.
Welcome to the hood.
 
RookieLearner said:
I know right!
They have 3 old commodores in the front yard, none in working order. Theyre both on the methodone program and their son was just arrested for possession of 60kg of dope. All in a polite 5 minute conversation.
Welcome to the hood.
Click to expand...

Keep your doors locked ;)
 
I just bought in Christie Downs,rented quick,good $320 PW rent,bought in for $245k plus costs.Worth a look in this area,they do go quick though.
 
For the SA residents

Is there any building work going on on the Noralunga Shopping Centre?

Or when is this meant to be upgraded as this seems to be the same type of plan Rouse Hill Sydney has

John.
 
Hey Guys,
Just an update as people were asking achieved rent, After a minor problem with vendor refusing to leave ( as discussed in another thread) Property is now tenanted at $290 p/week. Bought the property unseen which i dont think ill be doing again in future as needed a lot more initial repairs than was disclosed by RE, most concerning being a broken window to rear of house. Also wondering why this wasnt included in B&P report.....anyway alls well that ends well.
 
Moneyman_85 said:
For the SA residents

Is there any building work going on on the Noralunga Shopping Centre?

Or when is this meant to be upgraded as this seems to be the same type of plan Rouse Hill Sydney has

John.
Click to expand...

Do you mean colonnades? This had a fairly big upgrade not that long ago.
 
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