Don't know about anyone else but I'm getting sick of listening to Margaret Lomas on the Your Money, Your Call property edition on Sky Business harp on about Adelaide. It's like she has a vested interest in the area. Also she seems to totally write off Perth, saying the yields are too low. I would of thought Perth would have better fundamentals than Adelaide for growth in the next 5 years and yields in Perth are now pretty good. She is starting to lose my respect because I think she has her blinkers on......or perhaps I have my blinkers on about the Perth market. Interested in peoples opinions.
Margaret Lomas's love affair with Adelaide.
- Thread starter INXS
- Start date
Don't know who Margaret lomas is but Im also bullish long term on Adelaide.
Inxs what sparked Perths price hikes in the early 2000s ? Mining?
I'm putting my balls on the line and will say that SA will have their time in the next decade.
Also how high can Perth prices really go long term? Contrary to popular belief property prices will not rise at rates above income growth forever. It will get to a point where it has too slow.
Yes the yields are better in WA but I think SA has more potential growth medium/ long term.
She does. She has mentioned many a time that she has bought in Northern Suburbs like Elizabeth etc.
That said, I think ML does speak a lot of sense, however I personally adapt and combine her methods to suit my own personal situation and goals. If you look at her hotspot picks over the past few years, I think its fair to say she plays it fairly safe, with the suburbs usually having already experienced at least 3 years decent capital growth already. So whilst the horse hasn't quite bolted and you probably are beating herd investors, you're not exactly discovering a secret first hand. Ultimately she has to do this as it would ruin the credibility of her business (Destiny) otherwise. I'd bet money her own investments are purchased in these locations way before she starts dropping their names into every tv show.
I have stopped watching her show and reading the property magazine too. Too much hype. Personally, I would not invest in Elizabeth, SA and ML kept bringing it up, like a super hot spot. And her guests...
S.a
Hi Guys,
We've been a long term supporter of the Destiny programme and have followed some of Margret's advice in the past and have done O.K without making a fortune. We still have a property in Elizabeth that will do well long term but have just bought in Whyalla which last time I looked she didn't recommend but is on Terry Ryder's hot spot list. We're moving away from following her quite as closely now as we have found out what works for us but I still like her principles.
Cheers, Bullfrog
Hi Guys,
We've been a long term supporter of the Destiny programme and have followed some of Margret's advice in the past and have done O.K without making a fortune. We still have a property in Elizabeth that will do well long term but have just bought in Whyalla which last time I looked she didn't recommend but is on Terry Ryder's hot spot list. We're moving away from following her quite as closely now as we have found out what works for us but I still like her principles.
Cheers, Bullfrog
Hi
I can not comment about SA as I have no clue whatsoever as to what is happening, but like everything there will always be opportunities for those who think outside the square.
As far as Perth goes, I can say that I purchased 2 months ago prices have already jumped, at least another $40k-50K. This in part is due to lack of stock but not the only reason.
I have come to the conclusion that there will always be potential to make money in any area, especially if you focus on areas which are undervalued where surrounding suburbs are perhaps $100-150K higher, now just add rezoning into the equation and relatively close to the city and you have a formular for growth.
Cheers, MTR
+1
P O R T A D E L A I D EAre you sure about that??
I said from 'memory'
and I have absolutely zero knowledge about SA. So there is a big margin of error From google map Port Adelaide looks like any other port suburb. What is wrong with it?
Margaret lomas likes areas in the christies downs area. It makes sense, cheap big blocks good rental yield and doubling of the southern express way making the commute better to town. Combined with a close beach. Really makes sense.
As for Elizabeth similar principals as above with cheaper properties and no beach.
Both make sense. She doesn't suggests all of Adelaide.
As for Elizabeth similar principals as above with cheaper properties and no beach.
Both make sense. She doesn't suggests all of Adelaide.
Christies will be popular medium term because of its proximity to the beach - just need a strong population growth
Elizabeth will not be popular in the long term - not close to the city or beach = little appeal to majority of Adelaide residents
I could think of worse places, but it doesn't jump out as being much better value than Frankston or Frankston, which is part of a much larger (and faster growing) city.
All the factors stated for Christies Downs also apply for Frankston (beach, new roads, big blocks). Not saying that either is good or bad, but neither is particularly special.
It doesn't have to popular to have good growth. Davoren park was never considered popular and don't think it ever will be. But it's did have awesome growth. You can purchase in elizabeth for $170k with a 900sqm+ block and rent it for $240 p/w. Cf+ large block cheap. You will find most that she was talking about were corner block duplex on ~1000sqm with $400 combined rent that you could get for $250-300k
