BINGO. The property game is really much more simpler than some of us make out. The market NEVER lies....
Good luck with your search
Elizabeth, North Adelaide, SA
- Thread starter orcades
- Start date
BINGO. The property game is really much more simpler than some of us make out. The market NEVER lies....
Good luck with your search
Spot on Tina! Unfortunately I know someone in that situation as we speak.
Can't speak for other cities, but I don't believe Adelaide will experience a downturn. We're slowing down now, but will be in for smaller but stable growth until rates etc. ease again. Buyers are still there, they're just holding off.
Where are you guys looking for property?
Is the market really cooled ?
A house in the same street as ours was sold for 370K within the first open in Clearview. Another one is on the market for 570K with two houses on one block.
cheers
A house in the same street as ours was sold for 370K within the first open in Clearview. Another one is on the market for 570K with two houses on one block.
cheers
We are looking for 2 townhouses for about 200 - 240k in an area from Magill to Parkside. The plan is for our first IP's to be places our kids will want to rent off us in 5-10 years time. LVR's add up nicely but DSR is an issue, but we're patient.
How has your search been going? It's fairly hard to get a 2 bedroom unit for that price in that zone of yours let alone a town house.
Gools
I don't know the prices in the area well, but that price range does sound a tad low.
Sold a small 2 bedroom unit with shared laundry and not what you can call offstreet parking in Malvern for over 300k. One suburb from Parkside so good luck with a townhouse.
Some suburbs throughout the Northeast of Adelaide that I have been watching have definitely dropped. I think Greenwith has dropped by 10% and thats being conservative. There are some amazing buys out there at the moment and there is plenty of choice.
I believe certain suburbs through the North east of Adelaide are still performing well because of the hype surrounding them from the past and think buyers should look to see what other suburbs have to offer, because there are some extremely good buys out there.
Buyers are definitely holding off, but I believe the time to buy is when the houses at the absolute cheapest. I think you could get a better home with a better return in Greenwith, Modbury North, Modbury than you could in Munno Para, Salisbury, Munno Para West, Andrews Farm etc. and for a similar price.
Should have said "unit or townhouse" sorry was typing quickly.
Have got our eye on one at the moment in the right area and price range.
We are aiming low in terms of price but we are not in a rush, well not until the next boom starts anyway ...
This for example is not far off our target:
http://www.realestate.com.au/cgi-bi...er=&cc=&c=15117773&s=sa&snf=rbs&tm=1213186420
Not a fan of these but in the range:
http://www.realestate.com.au/cgi-bi...er=&cc=&c=15117773&s=sa&snf=rbs&tm=1213186420
Not bad
http://www.realestate.com.au/cgi-bi...er=&cc=&c=15117773&s=sa&snf=rbs&tm=1213186420
And another
http://www.realestate.com.au/cgi-bi...er=&cc=&c=15117773&s=sa&snf=rbs&tm=1213186420
Another few months and we might see another 10% come off these type of places.
Have got our eye on one at the moment in the right area and price range.
We are aiming low in terms of price but we are not in a rush, well not until the next boom starts anyway ...
This for example is not far off our target:
http://www.realestate.com.au/cgi-bi...er=&cc=&c=15117773&s=sa&snf=rbs&tm=1213186420
Not a fan of these but in the range:
http://www.realestate.com.au/cgi-bi...er=&cc=&c=15117773&s=sa&snf=rbs&tm=1213186420
Not bad
http://www.realestate.com.au/cgi-bi...er=&cc=&c=15117773&s=sa&snf=rbs&tm=1213186420
And another
http://www.realestate.com.au/cgi-bi...er=&cc=&c=15117773&s=sa&snf=rbs&tm=1213186420
Another few months and we might see another 10% come off these type of places.
Greenwith??
I was interested to read the comment about Greenwith dropping by 10%. I bought in Nov 06 for 260k and had it reappraised at 330-350k at the end of last year so I either bought well or have had good CG. However, a drop of 10% is bitter sweet as I am looking for a PPOR in Greenwith in the next 12 months and have a budget of 350k for a 3x2. A drop is bad for my IP but helps me with the PPOR.
I was interested to read the comment about Greenwith dropping by 10%. I bought in Nov 06 for 260k and had it reappraised at 330-350k at the end of last year so I either bought well or have had good CG. However, a drop of 10% is bitter sweet as I am looking for a PPOR in Greenwith in the next 12 months and have a budget of 350k for a 3x2. A drop is bad for my IP but helps me with the PPOR.
Mate of mine bought in Greenwith (3/1/1) just over a year ago for around $260k. Having a quick look at recent sales, I'd say it's probably around the $310k level now, so they're still doing ok.
Another couple I know bought a much bigger house about the same time, but can't remember the details and after trawling RP Data for 15 mins now trying to find it, I'm giving up!!
I would tend to think that they would be much more open to a slide in price the likes of what Matt is talking about. The bigger houses will often feel the pinch first.
Another couple I know bought a much bigger house about the same time, but can't remember the details and after trawling RP Data for 15 mins now trying to find it, I'm giving up!!
I would tend to think that they would be much more open to a slide in price the likes of what Matt is talking about. The bigger houses will often feel the pinch first.
So my budget of 350k for a 3x2 sounds ok??? I don't have RP data but my trawling of RE.com.au shows I've got a shot.
I was interested to read the comment about Greenwith dropping by 10%. I bought in Nov 06 for 260k and had it reappraised at 330-350k at the end of last year so I either bought well or have had good CG. However, a drop of 10% is bitter sweet as I am looking for a PPOR in Greenwith in the next 12 months and have a budget of 350k for a 3x2. A drop is bad for my IP but helps me with the PPOR.
Am I missing something? With a budget like that you can easily buy the same kind of a house two times closer to CBD then Greenwith. Something like Oakden, Windsor Gardens or Gilles Plains.
hi Gurus,
I am new to SA and would like to start my IP near Elizabath. My budget is around 300K. Can you suggest me the right place where i can get still cheaper.
Regards
Velli from Homebush/NSW
I am new to SA and would like to start my IP near Elizabath. My budget is around 300K. Can you suggest me the right place where i can get still cheaper.
Regards
Velli from Homebush/NSW
Thanks Steve. If the budget is around 200-250K which is the best area.
Regards
Velli
Regards
Velli
