location, location (Buying in Adelaide)

location, location

I am interested in buying IP in Adelaide. Living in WA but Land Tax becoming too high with current IP's. I have very basic knowledge of this region and would like a list of preferred suburbs in proximity of CBD. Anyone like to have a go? I am prepared to visit but would like to have an idea of where I am going before I get there. I have read in the Advertiser that Victor Harbour has taken off, will this trend continue? I know it is not CBD in fact a long way from it, but the returns were impressive. Anyone like to make some recommendations so I can start doing my homework on the net?
 
G'day Hils & All

Hils I see you are listed as being in Broome; I am just down the highway in Karratha.

Spent over twenty years in Adelaide and both sets of parents still there. I am currently caught between purchasing in SA vs WA myself.

Adelaide has had some significant growth over the last two or three years after an extended period of going nowhere.

Rental yields are still reasonably good, but talking with my property mgr yesterday the market has softened from 1.5% out to 3.5%. Still not too bad but she has indicated they (Barrie Magain Realty) expect things to soften further next year ie: less renters in the market, and a possible fall in rents (please don't read this as 'crash').

I asked her about buying now and having known her for some years I felt she gave an honest opinion. Her agency is forecasting some tapering off in 'their' market area - southern suburbs into southern foothills area and feels prices will settle out but marginal (lots of similar style in same area) properties may fall away further due to lack of buyers/renters.

As is the norm though, quality properties etc should continue to do well in terms of growth and yield, unlike Perth where it appears there has been terrific growth (with more to come) but very poor yields.

I won't go into specifics regarding areas, but some of the suburbs I have always liked and indeed have performed well in recent times are immediately south - south/west of the city to the beachfront areas: Wayville, Glandore, Black Forest, Sth Plympton, Oaklands Park, Warradale, Marion, Glengowrie, Daw Park.

From these you then cross over Brighton Road and start talking beachside: Glenelg, and Glenelg Sth, Somerton Park, Hove Brighton, Seacliffe....all pretty pricey at the moment.

If you have access to a decent map just check the pattern of these suburbs to get the overall picture.

There are plenty of areas to the north, east and west to consider as well but I have no real interest in them myself....but don't go near Colonel light Gardens as Sim owns it all.

Feel free to e-mail me if you wish.

Cheers Ian

;)
 
Can someone provide details of a good buyers agent or investor-friendly RE agent in Adelaide?

Will be visiting soon on other business and would like to get the low down of the market there.

Thanks
Steve K:D
 
G'day Steve & All

.....and Happy New Year!

I have just returned from 4 weeks in Adelaide on leave; spent a considerable amount of time researching property in my favourite areas.

I had numerous discussions with Barrie Magain (Ascot Park) and also my property manager (Michelle Waldron) of the same agency regarding a number of prospective IPs. As I have been associated with them for 7 years now I tend to find their opinions, particularly in recent weeks, quite beneficial. Please note: I also spoke with at least six other agents in my areas as well...just to keep a balance to the opinions I had gathered.

Am quite happy to recommend them to you even if simply for an informal chat about the state of the market (southern and beachside Adelaide). Mind you, with respect to their positions and the amount of feedback they give you, it might help if you can do a bit of research on prospective locales, specific suburbs, types of properties i.e: units, house and land, apartment etc. that you might be interested in. I'm quite certain any agent would feel more liberal and responsive if you can show a bit of genuine intent and professionalism rather than just asking 'what have you got that could be suitable as an IP'....I mean how long is a piece of string?

Not trying to be rude there Steve....simply trying to protect my good relationship with these people, and indeed to assist you with your search for quality info and IPs.

Now as for other beachside agents, here are a few names that may be of some assistance:

Phil McMahon Real Estate
Century 21 (Glenelg)
Professionals (Brighton)
Prime Real Estate
Sea & City Real Estate
Toop & Toop
Brock Partners
Ray White (Somerton Park)
Taplin Real Estate

Best bit of advice: a good map, or street directory....and check these agents property listings on the internet.

Cheers Ian:)
 
Ian,

Thanks for the assistance.

I'm generally looking at the 'bread and butter' type of homes. Median to below median price range.

I understand that the bayside suburbs are a bit pricey so I was thinking of further inland and a little bit out from the CBD. As I don't know the city all that well (although I have been to Adelaide once or twice for other reasons) I was hoping for just a point in the right direction.

I'll check some of the RE agents websites out too. Is there a general Adelaide site that they would be linked to (ie SA Govt or RE Institute, etc)?

Thanks again for the help.

Steve K
 
G'day again Steve

Unfortunately I can't offer any info on the outer northern suburbs but down south (still not that far from CBD by the way) you might consider Reynella, Morphett Vale, Christies Beach & Christies Downs.....then further south again, but still 20 mins on expressway from Marion, you have the likes of Seaford, Moana & Aldinga (all beach side but not pricey).

The only other site I can offer for your perusal would be:

http://text.sacentral.sa.gov.au/business/real_estate/

This site contains a more expansive list of agents.

The likes of Barry Burroughs Real Estate and also Barrie Magain Real Estate have some reasonably indicative listings for the southern suburbs.

Good Luck!

Cheers Ian
 
Geez,

looking at the date of these posts I hope you guys ended up choosing to buy in WA instead of Adelaide. It would be terrible to have given up all that capital gain just to save a few bucks on land tax!!
 
Webwombat,

Good on you, I looked at buying around there as it is a nice area but choose to look more central instead.
 
Webwombat,

Good on you, I looked at buying around there as it is a nice area but choose to look more central instead.
I purchased a house on 740sqm of land in Kilburn, SA last year. Over the back fence is the new Mapleton Grove development. 7ks from the CBD, very nice indeed.

We are currently living in Kilburn also, as we purchased a house for a PPOR to get more of a feel for the area. Its nice to be 5-10 mins to the city, 15 mins in peak hour max. Mapleton Grove is looking great, its the closest-to-cbd development that I am aware of and I'm glad to get in before it rose too high in pricing. I believe it is still a good area to invest in, as I'm convinced prices will continue to rise.

Andrew.
 
Can someone provide details of a good buyers agent or investor-friendly RE agent in Adelaide?

Will be visiting soon on other business and would like to get the low down of the market there.

Thanks
Steve K:D
Yes, US!!! My husband Angelo is in the business of finding properties for investors. Probably the only buyers agent in Adelaide who does not find "homes" for people to live in but focuses on "investment properties"

I disagree with the real estate agents comments about the market "softening" maybe in the high end or new appartment market in the city. But there are many suburbs in Adelaide that are still on the incline. We are seeing slow but steady growth not softening!

There are suburbs like Hallet Cove and Semaphore/port Adelaide where properties can be purchased under the "median average" for Adelaide. Some of these properties are on blocks that can be subdivided in future if the original house is knocked down so you have the potential to get 2 for one. and some have sea views or can have sea views if bult up. Lots of "value add potential" These suburbs are close to some very expensive neighbouring suburbs ie West Lakes and Brighton. If these are not poised for future capital growth I don't know what is! :D

Our next newsletter is about capital appreciation in Adelaide and was partly written by Peter Koulizos from Adelaide TAFE property investors course. He has researched the top 10 suburbs with reasons why they are poised for further capital growth, this is a point of view from an INVESTOR not a real estate agent! The article will be made available in January and I'm happy to send it to anyone who emails me xenia@adprop.com.au.
 
I disagree with the real estate agents comments about the market "softening" maybe in the high end or new appartment market in the city. But there are many suburbs in Adelaide that are still on the incline. We are seeing slow but steady growth not softening! QUOTE]

I agree, I was speaking with some RE agents and fellow property investors at the Toop and Toop Christmas party last night and the general feeling is that the market is steady overall but still rising in pockets.

Regards
A
 
Are there any suburbs within 3km of the CBD that appear better for long term growth.....say 5 years, compared to any other Adelaide suburbs.
I am more comfortable investing closer to the city but if there are persuasive arguments I can change my mind for more distant suburbs such as hallet cove
 
Are there any suburbs within 3km of the CBD that appear better for long term growth.....say 5 years, compared to any other Adelaide suburbs.
I am more comfortable investing closer to the city but if there are persuasive arguments I can change my mind for more distant suburbs such as hallet cove
Hmm, are you happy with 7-9ks out? I like the areas of Kilburn, Blair Athol, and suburbs around there. Inner-Medium north. Lots of older houses getting pulled down, new ones going up increasing the area appeal. I actually live in this area also, and have 1 IP, soon to be another in this area.

Andrew.
 
Hmm, are you happy with 7-9ks out? I like the areas of Kilburn, Blair Athol, and suburbs around there. Inner-Medium north. Lots of older houses getting pulled down, new ones going up increasing the area appeal. I actually live in this area also, and have 1 IP, soon to be another in this area.

Andrew.
Hi Andrew,

Inner medium north sounds good.
What area in particular are you referring to??
what's a typical price for a typical block , whatever that is?
 
Hi Andrew,

Inner medium north sounds good.
What area in particular are you referring to??
what's a typical price for a typical block , whatever that is?
I'm referring to Kilburn and Blair Athol. I live in Kilburn, just 2 streets away from part of the new "Mapleton Grove" development, just 7ks from the CBD. I don't think they're going to find any new land closer than this to the CBD anytime soon.. Land prices are range from $141K for 371sqm to $171K for 572sqm. That was the Stage-3 release.

I have been quite tempted to get a block myself, but we already own 2 properties in the Kilburn post code. We picked up a house on a 750sqm block for $200K that we have as a rental, so we're pretty happy with that. Can subdivide down the middle no probs, and will look to do that a bit later.

Andrew.
 
We've had great success with apartment style units in the inner southern suburbs, Kingswood, Torrens Park area (postcode 5062). It's about 6km to the city, not far from Flinders Uni, Westfield Marion, the Adelaide Hills and Somerton/Brighton/Glenelg beaches. It's a more affluent area than some others but rents are high. Prices of houses/units in this area have risen markedly in the past year or so but it looks to me like there are still some good buys out there...and prices are still going up. Cheers.
 
We've had great success with apartment style units in the inner southern suburbs, Kingswood, Torrens Park area (postcode 5062). It's about 6km to the city, not far from Flinders Uni, Westfield Marion, the Adelaide Hills and Somerton/Brighton/Glenelg beaches. It's a more affluent area than some others but rents are high. Prices of houses/units in this area have risen markedly in the past year or so but it looks to me like there are still some good buys out there...and prices are still going up. Cheers.
Ah, that is my old territory. Hawthorn - lovely suburb!
 
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