Morphet Vale, Adelaide

[Wazza007]

Howdy

do any of the Adelaide following have any thoughts about Morphet Vale? The Sept median price show only slight growth 3.93% but has had 109 sales almost more than double than any other suburb in Adelaide. What would you make of these figures?

The suburb has older houses but some townhouse and villa developments are starting to popup the area seems to be 10, - 20,000 cheaper that all the suburbs around it. I think there were large housing trust areas but it is near good transport links beaches and shopping.

I like this area along with Norlunga Downs, Christie Downs and Seaford.

I spoke to a RE on Friday about a 4 bedroom house 3 blocks from Seaford beach ($180,000 - leased $180.00pw) about rent returns etc and he said to me that the rental market has moved with the majority of renters looking for modern smaller villa type properties rather thatn 3 - 4 bedrooms with large yards. He seemed honest as the house was on his books and he didnt have any villas himself.

Houseproud has given me some great info about Seaford but I wander about the properties around Norlunga downs - Christies Downs - and Morphet Vale which are closer to Adelaide have train access and a Major shopping centre.

Looking for long term investment - hold probably be neg geared or maybe neutral at best.

Thanks in advance if anyone has any opinions on above.

Cheers

Waz

 

[duncan_m]

Morphet Vale? The Sept median price show only slight growth 3.93% but has had 109 sales almost more than double than any other suburb in Adelaide. What would you make of these figures?

Morphett Vale is 2-3 times the size of most other suburbs, check the historical figures, it always has more sales.

10, - 20,000 cheaper that all the suburbs around it. I think there were large housing trust areas but it is near good transport links beaches and shopping.

That isnt quite true.. its bordered to the North by nicer suburbs its definitely cheaper than those.. to the south the suburbs are a bit scrotier and its more expensive than those but due to its size Morphett Vale is extremely varied.. as a general rule, east of Main South Road is better than West. To buy well in Morphett Vale, you'd need to be on the ground and know the suburb well..

 

[Wazza007]

Thanks for the information Duncan,

Im heading to Adelaide on Friday busy setting up inspections for properties in this area. Im interested because they are within close proximity to Collanades (spelling?) and train stations i.e The properties include

MARTIN ROAD MORPHETT VALE

O'HALLORAN ROAD CHRISTIES BEACH

BETHANY COURT NOARLUNGA DOWNS

Plus Im looking at a couple of Houses in Seaford and Villas in Seaford rise.

But my Gut says look at properties close to Norlunga centre - Shopping Trains Beach i.e Christies Downs & Norlunga Downs.

I need to find long term data on Christies Downs as it had good growth in the last 12 months but is this just due to it having a low base to start with? Im just too tight to pay for it...haha but if I dont I'll probably end up paying in the long term!

Im originally from Adelaide but the Northern Suburbs which I know quite well, the demographics for many of the southern suburbs are similar but it has the beach. Now in Sydney but I travel to Adelaide a couple of times a year to see family friends etc.

anyway thanks for your reply.

cheers

Waz