cheers steve - happy to share my thoughts ... what do you think on mount gambier ? - or should i start a new thread?
Elizabeth, North Adelaide, SA
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Sorry mate, don't know much about Mt Gambier. If you start a new thread I'm sure you'll get people who do know about it.
You mentioned Werribee Vic - do you also own property in SA? Would be interested to hear about it
PS You shouldn't be singing the blues if 2 of your IP's have gone up 20% in the last few months! You should be "shoutingfromtherooftops"
hi steve - yes, 3 units in SA - 1 in unley - purch in 2000 for $50k! - 2 purchased more recently in pt willunga
Wow, well done on Unley! Pt Willunga will do well for you too I'm sure, especially with all the development going on down at Aldinga.
enjoyed your post stb , i tend to think the gate has been shut in the elizabeth areas , at least for the huge growth it has enjoyed.
but it will always be a lower socio - suburb , and it has caught up to a lot of others now - making the others now seem better value.
in the areas you mention - i agree with all of them , port noarlunga also , just down the road from christies beach but not next door to christie downs (the new hackham west of the south)
but it will always be a lower socio - suburb , and it has caught up to a lot of others now - making the others now seem better value.
in the areas you mention - i agree with all of them , port noarlunga also , just down the road from christies beach but not next door to christie downs (the new hackham west of the south)
People are getting cheeky!
http://www.realestate.com.au/cgi-bin/rsearch?a=o&id=103921664&emailsource=emailalert
This one is for sale now @ $225k+ asking price. They bought it on 18th of July for $185k.
http://www.realestate.com.au/cgi-bin/rsearch?a=o&id=103921664&emailsource=emailalert
This one is for sale now @ $225k+ asking price. They bought it on 18th of July for $185k.
I love how Elizabeth is being bid up by people who have never set foot in the place! I wish I was there with a camera when you guys first visit!
As for SA prices being driven up due to a mining boom, here's some figures on the number of jobs:
http://www.workplace.gov.au/workpla...ortradesskillsSouthAustralia-December2006.htm
"In percentage terms, the Mining industry recorded the strongest employment growth over the year to November, expanding by almost 20 per cent (1700)."
Adelaide has 480k houses so if all of the new miners didn't live in SA before, and suddenly 100% of them bought houses to commute hundreds of ks from Adelaide to the mines then that would represent 0.35% increase in housing demand in Adelaide last year.
Meanwhile Adelaide has had 3.7% population growth in 5 years (2001-2006) and 4.9% increase in total houses.
We have 480,431 houses, or 2.3 people per house. If we upped that to the national average of 2.6 people per house and filled in all of the empties then at current growth rates we wouldn't need to build any more houses for 17 years!
BTW - rich miners are unlikely to leave their wives and children alone in Elizabeth during the week. I knew some mining kids and the families were in Roxby and the kids boarded at private schools.
As for SA prices being driven up due to a mining boom, here's some figures on the number of jobs:
http://www.workplace.gov.au/workpla...ortradesskillsSouthAustralia-December2006.htm
"In percentage terms, the Mining industry recorded the strongest employment growth over the year to November, expanding by almost 20 per cent (1700)."
Adelaide has 480k houses so if all of the new miners didn't live in SA before, and suddenly 100% of them bought houses to commute hundreds of ks from Adelaide to the mines then that would represent 0.35% increase in housing demand in Adelaide last year.
Meanwhile Adelaide has had 3.7% population growth in 5 years (2001-2006) and 4.9% increase in total houses.
We have 480,431 houses, or 2.3 people per house. If we upped that to the national average of 2.6 people per house and filled in all of the empties then at current growth rates we wouldn't need to build any more houses for 17 years!
BTW - rich miners are unlikely to leave their wives and children alone in Elizabeth during the week. I knew some mining kids and the families were in Roxby and the kids boarded at private schools.
HiredGoon
Gee HG, .... it must be wonderful being the supreme expert and adviser on Investment Property eh?
Most of us have worked damn hard to try and get ahead in life and invest our dollars in property in order to make retirement more comfortable rather than living on the basics and a drain on society.
I have been on the bones of my backside a few times in my 49 years on this planet and given the choice I know that I would rather put the effort into creating a more comfortable life for myself and my wife... and then when you think that things are going okay ... some pr%t comes along with a smug attitude who just wants to knock peoples efforts and attempts to get ahead in life, .... you must be very proud.
We take a risk in our investments and we understand that, but we don't need you reminding us constantly about the downside without ever balancing your argument with anything positive to say about anything.
I actually wish you a good life, but I fear that you will continue to wallow in your pit of despair ...... I will now place you back on ignore, so I guess I'll just have to miss your pearls of wisdom from now on .... reckon I can live with that though.
Martin
Gee HG, .... it must be wonderful being the supreme expert and adviser on Investment Property eh?
Most of us have worked damn hard to try and get ahead in life and invest our dollars in property in order to make retirement more comfortable rather than living on the basics and a drain on society.
I have been on the bones of my backside a few times in my 49 years on this planet and given the choice I know that I would rather put the effort into creating a more comfortable life for myself and my wife... and then when you think that things are going okay ... some pr%t comes along with a smug attitude who just wants to knock peoples efforts and attempts to get ahead in life, .... you must be very proud.
We take a risk in our investments and we understand that, but we don't need you reminding us constantly about the downside without ever balancing your argument with anything positive to say about anything.
I actually wish you a good life, but I fear that you will continue to wallow in your pit of despair ...... I will now place you back on ignore, so I guess I'll just have to miss your pearls of wisdom from now on .... reckon I can live with that though.
Martin
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Martin,
I haven't been inside, but my thinking is probably not.
The photos they have on the listing now are the exact same ones they used in April and June this year - if there were improvement's made I'm sure they would have taken advantage of them.
As for HG, I've just learnt to ignore hiom when he spouts his dribble, and call him on it when he makes ridiculous claims such as rents in Adelaide haven't gone up in the Northern suburbs, or more recently this pearler:
http://www.somersoft.com/forums/showthread.php?t=36293&page=2
Where he uses some pretty satellite maps to illustrate to people how there is no land shortage in Adelaide due to all the vast areas to the North (market gardens) and South (extremely contoured land). Which is totally misleading to people not familiar with Adelaide, and either an intentional misrepresentation of the truth, or perhaps just a person who has absolutely no idea, pretending to know what he is talking about.
When I call him on it, he conveniently no longer responds in that thread.
I haven't been inside, but my thinking is probably not.
The photos they have on the listing now are the exact same ones they used in April and June this year - if there were improvement's made I'm sure they would have taken advantage of them.
As for HG, I've just learnt to ignore hiom when he spouts his dribble, and call him on it when he makes ridiculous claims such as rents in Adelaide haven't gone up in the Northern suburbs, or more recently this pearler:
http://www.somersoft.com/forums/showthread.php?t=36293&page=2
Where he uses some pretty satellite maps to illustrate to people how there is no land shortage in Adelaide due to all the vast areas to the North (market gardens) and South (extremely contoured land). Which is totally misleading to people not familiar with Adelaide, and either an intentional misrepresentation of the truth, or perhaps just a person who has absolutely no idea, pretending to know what he is talking about.
When I call him on it, he conveniently no longer responds in that thread.
Dear HiredGoon,
You are more than welcomed to your thoughts! However bear in mind that this forum is formed to lift and support each other. Elizabeth as a whole is a great area, sure there are some unsocial elements (you name an area which doesn't) and you can still make some great capital gains.
I am sure that there are plenty of people reading this thread (myself included) who have made a couple of coins from investing in Elizabeth. Perhaps you would like to rent my brand new 3 bed 2 bath villa which will cost be $115K to build and I will only charge you a mates rate of $230 to rent.
Anyways everyone and HiredGoon, please have a great day!
You are more than welcomed to your thoughts! However bear in mind that this forum is formed to lift and support each other. Elizabeth as a whole is a great area, sure there are some unsocial elements (you name an area which doesn't) and you can still make some great capital gains.
I am sure that there are plenty of people reading this thread (myself included) who have made a couple of coins from investing in Elizabeth. Perhaps you would like to rent my brand new 3 bed 2 bath villa which will cost be $115K to build and I will only charge you a mates rate of $230 to rent.
Anyways everyone and HiredGoon, please have a great day!
Just missed opportunities, one each in Elizabeth South and Elizabeth Park.
Took 48 hrs to decide.
Those areas hv changed drastically over the last one year. I read a lot of post, about how much upside is left in the area.
Personally, i will stick to 10 KMs of the CBD or water front properties. Not much of brainer . Just can't go arong.
Cheers
Took 48 hrs to decide.
Those areas hv changed drastically over the last one year. I read a lot of post, about how much upside is left in the area.
Personally, i will stick to 10 KMs of the CBD or water front properties. Not much of brainer
. Just can't go arong.Cheers
From a macro perspective, you being supported in retirement is still a burden on society whether your money comes from a tax-funded pension or a younger person paying you rent, or buying your house off you for a lot more than you paid.
Since Australia has a net-negative savings rate, and sources much lending from international credit markets, taking out loans to buy an existing house is actually a net loss to the country.
Building a house is different - at least you creating something there.
To not be a burden on society you can try and get income streams flowing into the country (lend/buy foreign assets) or increase future productive capacity by capital investments.
Borrowing money from overseas to bid up existing asset prices is a terrible thing in aggregate for Australia. And yet that seems to be the thing to do these days!
I bought a property (3BR Semi Detached) in Elizabeth North about 3 years ago and heard from my agent in SA and he told me that it is now worth 150k-160K as the market for Elizabeth has gone nuts. Looked in RE sites and it does look like the semis are also selling fast but no stock and listed for about 150k. Can someone on the ground in SA tell me if the valuation the agent gave me is correct?
Also, I managed to get options on two properties in Parafield Gardens (185k) and Paralowie (190k). I am also hearing the Salisbury area is moving quickly.
It seems to be a very strong market throughout SA....better than even Melbourne??....dare I say.
I am certainly a happy camper if price movement in the Northern surburbs continues...a real bonus...I can pull equity out sooner than I thought
!!
I bought a property (3BR Semi Detached) in Elizabeth North about 3 years ago and heard from my agent in SA and he told me that it is now worth 150k-160K as the market for Elizabeth has gone nuts. Looked in RE sites and it does look like the semis are also selling fast but no stock and listed for about 150k. Can someone on the ground in SA tell me if the valuation the agent gave me is correct?
Also, I managed to get options on two properties in Parafield Gardens (185k) and Paralowie (190k). I am also hearing the Salisbury area is moving quickly.
It seems to be a very strong market throughout SA....better than even Melbourne??....dare I say.
I am certainly a happy camper if price movement in the Northern surburbs continues...a real bonus...I can pull equity out sooner than I thought
Without knowing the specific property, I can still safely say your agent is right. Semi's are now going for $160k even more, and houses are fast approaching $200k. Prices up North have boomed the last 4-5 months especially.
Do you mean you bought, or have options to buy 2 places in Parafield Gardens and Paralowie for $185-90k? If so, that sounds very cheap and a good deal (again without seeing the specific properties in question).
Salisbury is also moving too, but strangely enough, probably not as fast as further North yet. Which means Salisbury is becoming relatively cheaper compared to places further North. I've just secured a deal for someone in Salisbury which I'm very happy with.
Prices are still going nuts up there at the moment, so you'll be doing well Sash. I take it you haven't been following your investments up there that closely recently?
Wow!!! That is a big jump.....160k huh?
The 2 properties I talk about are 3br, 1 bath homes....one is on 480sqm lost (Parafield Gardens) and one is on a 530sqm lot (Paralowie). Priced at 185k and 190k respectively. I have these in the bag and have signed the contract.
Looks like it is cheaper closer in Salisbury suburbs (17km-20km) than Elizabeth at 200k. Looks like Salisbury is well priced considering it has a better reputation than Elizabeth....but go figure Elizabeth has boomed.
Thanks for the info SteveAdl. Also, you are right, have not really researched recent prices a lot other than a fleeting glance as I have been looking at opportunities in Melb and Qld. But great news none the less.
Also, some of the press is saying that Adl is second only to Qld in terms of growth prospects over the next couple of years.
I am ecstatic! Better go and find some more undervalued surburbs.....imagine when I go and tell the naysayers about Elizabeth!
Well like I said, hard to say without knowing the actual property, but yes.
Bit harder to say with the two in Parafield Gdns & Paralowie. I'm assuming their semi's with those land sizes? You'd need to have both sides to be able to develop further down the track.
But if it helps, only 14/84 sales since the beginning of the year have been below $200k in Paralowie of houses that size or less. My guess is it would be a bit below market price for a semi, or further below if it's a house.
Most recent sales for that land size in Parafield Gdns is an house in August for $185k, and some semi's back in May/June for $157k. So perhaps with this one, if it's a semi, it may be around the right mark. Not as many sales here though, so it's not that easy to tell.
Do some goof research before committing though
Bit harder to say with the two in Parafield Gdns & Paralowie. I'm assuming their semi's with those land sizes? You'd need to have both sides to be able to develop further down the track.
But if it helps, only 14/84 sales since the beginning of the year have been below $200k in Paralowie of houses that size or less. My guess is it would be a bit below market price for a semi, or further below if it's a house.
Most recent sales for that land size in Parafield Gdns is an house in August for $185k, and some semi's back in May/June for $157k. So perhaps with this one, if it's a semi, it may be around the right mark. Not as many sales here though, so it's not that easy to tell.
Do some goof research before committing though
Booming North
Dear All
I fail to see how Elizabeth in total (all the different Elizabeth's) are going to be more expensive than a well placed property in Salisbury. If that is happening then we really do have a problem and over inflated prices in Elizabeth.
I own in Salisbury around 500m from Train Station and Shopping Mall.
Bully
Dear All
I fail to see how Elizabeth in total (all the different Elizabeth's) are going to be more expensive than a well placed property in Salisbury. If that is happening then we really do have a problem and over inflated prices in Elizabeth.
I own in Salisbury around 500m from Train Station and Shopping Mall.
Bully
Bulldog,
I own in Elizabeth North as well as in the surrounding Salisbury surburbs (Paralowie and Parafield Gardens). I agree with you that Elizabeth is going to price itself out against Salisbury...but I am going to quite happy with this situation. Bear also in mind that old perceptions of the locals maybe different from interstaters...so this maybe also have a bearing. Further affordability will also get people to focus on Elizabeth.
Anyway enjoy the ride....Salisbury has been picked as one of the top 100 surburbs around Australia by API Magazine.
Cheers.
I own in Elizabeth North as well as in the surrounding Salisbury surburbs (Paralowie and Parafield Gardens). I agree with you that Elizabeth is going to price itself out against Salisbury...but I am going to quite happy with this situation. Bear also in mind that old perceptions of the locals maybe different from interstaters...so this maybe also have a bearing. Further affordability will also get people to focus on Elizabeth.
Anyway enjoy the ride....Salisbury has been picked as one of the top 100 surburbs around Australia by API Magazine.
Cheers.
