Hmm... All of them are houses. I got a couple valued, but I am not very happy with the figures, I think it should be a lot more. Take one for instant is in Kensington Garden, 700+ sqm, fully renovated to luxury standard, and the agent told me it's gonna sell around $750k mark, which either the market hasn't moved much or he doesn't know what he's doing.
Has Adelaide done its peak?
- Thread starter wll6568
- Start date
Hmm... All of them are houses. I got a couple valued, but I am not very happy with the figures, I think it should be a lot more. Take one for instant is in Kensington Garden, 700+ sqm, fully renovated to luxury standard, and the agent told me it's gonna sell around $750k mark, which either the market hasn't moved much or he doesn't know what he's doing.
It's quite strange result I must say.... About 20%, 30% of properties in SAME suburb did get good result but a lot others just barely moved. It's becoming a bit hard to estimate these days...
For example in Glynde, which is a very hot eastern suburb, a tiny new built house with 200sqm land sold for 700k. But all other established 60s properties with reasonable or standard condition and bigger block of land (i.e. 700sqm) are finding hard to sell... or sold for about 10% increase of what they were bought 4, 5 years ago.
Can't comment too much as I don't look to invest in that area or price bracket. From my limited knowledge I was to believe that the area had some huge growth in previous year, could it be a case that you had purchase mosts of these around the peak say 5 years ago, GFC was a reasonable drop and now prices have move back above where you purcahsed and now heading into the plus?
I have found that prices in the areas I look are starting to move <$500k and <$300k has moved.
Could be a case of market improving starting at the lower end.
That's what I found... the lower end of market seems to be moving more actively whereas those 500k onwards not really moving much.
Take a look at this one: http://www.realestate.com.au/property-house-sa-marden-116598043
Blue chip suburb, huge corner block, walking distance to O-Bahn and Shopping centre, but strangely... no one bid at the auction, and it's been opening for close to two months still not sold. It's really strange, as it's a fairly decent house. The one next to it was sold at $760K, and made onto the news few weeks ago.
I see great potential in pockets of Adelaide, especially given I used to live there before. It seems to have so much more value compare to Sydney ... However I need to convince SWMBO to invest there.
That's really good. I think whoever bought in end of 2011 to mid 2012 would be the winner... That only happened in ADL, not in Syd or Melb. Was looking for IP in Melb at that time but no luck as good ones just kept get sold.
Happy dayswhere to now with your equity?
Hmm... the ones bought pre 2008 have all gained pretty much double, but the ones after basically only gained like 10% since then... i guess...
My Christie downs property bought just on 12 months ago for $240k was revalued this week at $280k. Happy Days!!!! Im having a day of to celebrate
R377,was your val a real estate val or a bank val?
Doesn't this answer your question?
Pretty much doubled... so 2008/9 was around the peak then they have just grown 10% in that time (I would suggest in that time they have gone slightly backwards and before going fowards) I had a look at some sales history and pretty much backs that up aswell. prices are similar to 2009 but they were lower in 2010-2011 and now slightly increasing.
Are you looking to offload these properties or not happy with the overall performance?
Long term I think the areas will do very well, will be period of trickling along then will be few years of some reasonable growth.
Last edited:
Bank valuation used for equity (which they can be conservative with) My hackham and huntfield heights properties came in at 270 and 275 also.
Equity used was to buy in Arana Hills and Kedron - queensland
Be careful here.
I just bought (few months ago)
a Christie downs property for A$225K with rental A$280/week.
One very good property in Morphevale for A$248.5K with rental A$280/week.
Another very good one in Christies beach for A$282K only.
Random Adelaide question: what are the upmarket, cafe-trendy suburbs in Adelaide? And the downmarket, cafe-trendy suburbs? E.g, like the equivalent of Woollahra (upmarket) and Newtown (downmarket) in Sydney?
The upmarket cafe-trendy suburbs around Adelaide are:
Norwood
Hyde Park
North Adelaide
Adelaide doesn't really have any downmarket cafe areas. There are lots of smaller cafe precincts around the city, but Adelaide doesn't really have anywhere comparable to Newtown.
Adelaide has lots of up market areas, by definition as in they are leafy, green, great environment for family, pricey, short distance to the cbd and with good schools.
UpMarket suburbs:
Medindie, North Adelaide, Walkerview, St Peter's, Norwood (bit like South Yarra?), Toorak Garden (Kind of like Toorak?), Unley, Glenunga, Burnside, Magill, Kensington, and so on... Mostly in the eastern suburbs.
Downmarket suburbs:
Elizabeth, Salisbury, anything in the north... as well as those near the port and down south like Christie Down, Morphett Vale where lots of housing trusts exist, but I think they are slowly improving.
Glenelg is kinda like upper mid range... It's a nice place to live, beach... lots of shops, with a tram line taking you to the city. But the real upmarket areas (>700K median price) are those quiet leafy areas with good schools.
