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I really dont think you get the point im making Dave.You would make a good pollie.
It may even be a positive impact if the state govt gets to stop sending billions into their gaping furnace existence.
I am not worried much about Holden workers as they will be getting payouts
I am worried about all the smaller company's supplying Holdens and the economy. These people are not on the same deal as Holdens and won't get pay outs like Holden workers
I agree. Everyone in this thread is very very bullish towards Elizabeth.
Yield I see. But what growth?
What's your thoughts on the last decades growth?
Of course previous performance doesn't guarantee future, but considering the large scale redevelopment which has been achieved with the new council direction, State and Federal injections and some of the highest population growth in the entire State, let alone in the highest performers in the country.
I'm more of the opinion in weighing up all pro's and cons, than jumping from headline to headline.
I see many properties advertised in Elizabeth for less than they sold 5-6 years ago...
Horses for courses. Yield: tick, but growth may be problematic??
Pros are good rental yield. Many posters report 7% or even 7.5% - pretty good. Quick look through rpdata confirms 7-7.5% is quite a regular result. Can't see any other pros I'm afraid...
Cons: well, quite a few, for example the last decade's / last 5 years capital growth?
Quoting rpdata for Elizabeth North:
* Change in Median Price (5yrs) is -11.3%
* Annual Change in Median Price (10yrs) is 3.2%
Typical Adelaide outer suburbs (e.g. Woodcroft, Morphett Vale) recorded 5yr growth of about +7 to +12% and 10yrs average of about 5%...
I see many properties advertised in Elizabeth for less than they sold 5-6 years ago...
Horses for courses. Yield: tick, but growth may be problematic??
The yield is unquestionable; however, in relation to the capital growth I'd suggest it will improve in the future and would attribute the low growth to the new land and development releases down north. Developers have built up Evanston, Penfield, Andrews Farm, and Blakesview within the past decade. There has also been a gentrification of Munno Para and parts of Smithfield. That development and gentrification will benefit Elizabeth down the track but currently it's stuck with a stigma, which will eventually change as the Housing Trust sells off more of its stock and the area becomes privatised.
I'm sure there are a lot of investors like CJay who currently own stock in Elizabeth but are just sitting on a buy and hold strategy and waiting to capitalise upon development in the future. The 30 year plan done in 2010 had a strategic vision of limiting urban sprawl and limiting the amount of new land releases. Instead of being 70/30 they want to turn that ratio into 50/50, which means 50% of all population and dwelling growth will be done inside already established areas next to public transport corridors.
As for the socio-economic standard of Elizabeth that is set to improve not just because of privatisation. Housing commissions throughout Australia have realised their mistakes of creating ghettos by building entire suburbs based around public housing e.g Claymore/Airds in NSW. Subsequently, public housing is now dispersed throughout the entire metropolitan areas. Moreover, once housing trust homes are sold off in Elizabeth they are getting replaced with first homebuyers, and working class people and the original tenants are being relocated into different suburbs. The 30 year plan has predicted Adelaide?s population to grow by over half a million so there?s certainly not going to be any shortage of tenants either.
Pros are good rental yield. Many posters report 7% or even 7.5% - pretty good. Quick look through rpdata confirms 7-7.5% is quite a regular result. Can't see any other pros I'm afraid...
Cons: well, quite a few, for example the last decade's / last 5 years capital growth?
Quoting rpdata for Elizabeth North:
* Change in Median Price (5yrs) is -11.3%
* Annual Change in Median Price (10yrs) is 3.2%
Typical Adelaide outer suburbs (e.g. Woodcroft, Morphett Vale) recorded 5yr growth of about +7 to +12% and 10yrs average of about 5%...
I see many properties advertised in Elizabeth for less than they sold 5-6 years ago...
Horses for courses. Yield: tick, but growth may be problematic??
Pros are good rental yield. Many posters report 7% or even 7.5% - pretty good. Quick look through rpdata confirms 7-7.5% is quite a regular result. Can't see any other pros I'm afraid...
Cons: well, quite a few, for example the last decade's / last 5 years capital growth?
Quoting rpdata for Elizabeth North:
* Change in Median Price (5yrs) is -11.3%
* Annual Change in Median Price (10yrs) is 3.2%
Typical Adelaide outer suburbs (e.g. Woodcroft, Morphett Vale) recorded 5yr growth of about +7 to +12% and 10yrs average of about 5%...
I see many properties advertised in Elizabeth for less than they sold 5-6 years ago...
Horses for courses. Yield: tick, but growth may be problematic??