Is it good to invest in Davoren Park SA?

S

Suraj

Hi evry one,
Have any idea whats happening arround Davoren Park SA? I heard, the edinburge defence up grading its size and defence house are currently being built in Davoren park, Holden factory in Elizabeth is starting new four cylinder engine which will increase job in that area, northern expressway also under plan. The current median price is 185K still cheap to buy and rental return is 5-6%. Any more detail or specific idea? about the place and whats happening? or any info regarding PI in that area? Last OCT I bought two good semis in one tile, giving 390pwk rent in 335K,1200sqm land, good tenants. I think the price is moving up slowly now. Any info, comment, ideas appreciated.

Suraj
 
You mentioned most of the facts about DP at the moment, so you should be able to decide whether you want to buy another one there or not.

Personally now since the prices have risen decently over the last couple years - now around the $200k level for stand alone sub-divisable house - I'd be looking closer to the CBD even if that means spending an extra $100k.
 
i am selling my woody north atm, its 7kms from town/port/beach. 700sqm 300k ono drelling thats renting out 250p/w..
 
I'm with Steve on this one. Suraj, everyone in SA know's about those projects you mentioned so they are pretty much priced into the market now.
I'd be looking closer to town where the land value will always be much higher so future sub-division should provide a better return.

Just to clear up a couple of your points.
Building of the Northern Expressway has started already.
Holden 4cyl engine will not be built at Holdens at Elizabeth but the cars themselves will be.

Gools
 
actually holdens has cut all the casuals staffs and jobs are going down, i dunno if building a 4cyc car would make any difference as their sales in the 4cyc wouldnt be strong as other manufactures like toyota honda huyundai take that into account..

i reckon their will be a hault in credit until GFC is over then there will be flood of easy credit again so buying develope potential block is the way to go i reckon, unless u want to upgrade to something to live in
 
Gools said:
Building of the Northern Expressway has started already.
Click to expand...

Yup, think they're almost finished on the Pt Wakefield Rd upgrade by the looks of it (and those steel ropes in the centre certainly do their job!). Also seeing the work on the overpasses in the middle of Penfield going ahead. Looks like they've also built themselves some sort of plant (I assume bitumen?) to supply the project.

I know of one poor land owner who has the route going straight through the middle of his land (compulsorily aquired), so he'll own land on either side of the freeway with his horse stables cut off from his racing track! :(
 
How is the market now in Davoren Park. It still looks like flat. I found this is one of the worst place to invest in property. Falling price since 2008 and no sign of growth for so long.
 
Suraj said:
How is the market now in Davoren Park. It still looks like flat. I found this is one of the worst place to invest in property. Falling price since 2008 and no sign of growth for so long.
Click to expand...

Most of Adelaide peaked around late 200x's, had a big drop and now in the 201x's its on the upswing again.

Davoren Park is a lot less desirable than many other suburbs. Some people use this to their advantage by buying very rundown properties and renovating/subdividing them for the equity gain. The yield is fairly decent too.

Really depends on what your strategy is. I haven't bought there, but have in some nearby suburbs.
 
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