Peoples thoughts on Adelaide?

My current subdiv is at frame up stage so i think its time i start looking for a new project (another subdivision, call me weird but i actually enjoyed the process) . Dont know whether to keep south or expand my horizons. I know onkaparinga development plan like the back of my hand and it is super easy to get a subdivision through at the moment, since they are trying to stop the sprawl into their primary production areas of sellicks/willunga, plus the added benefit that outlay can still be pretty low.

Time to start scanning re.com i think

Nice, if you enjoy doing it and making a bit of coin at the side, why not?

Are you doing this on top of a full time job?
 
Yeah will check that out Sea Change. Btw someone offered something with a 6 in front of it on the Semaphore property so its gonski.
 
Yeah will check that out Sea Change. Btw someone offered something with a 6 in front of it on the Semaphore property so its gonski.

Yea, 500k was very good value. Need to pounce on these opportunities when you recognize them.
 
Adelaides mendicant economy

Another insightful blog from Pete Wargent about the Adelaide property market.

Nice article and stats. Employment in Adelaide is always a concern. I still expect the median house price in Adelaide to increase around 3-4% this year though.

Virginia is set for an expansion.
http://www.adelaidenow.com.au/messe...o-triple-in-size/story-fni9ll1r-1227264731126

It'll be interesting to see the prices since- This will be pitched at a more affordable pricepoint (than other developments in the northern suburbs).
 
Virginia is set for an expansion.
http://www.adelaidenow.com.au/messe...o-triple-in-size/story-fni9ll1r-1227264731126
QUOTE]

No surprise there, lots of proposed greenfield land releases out North, see below link, published in 2010, there is a summary map on page 161

http://www.dpti.sa.gov.au/planning/30_year_plan

This will keep land values down in the outer North of Adelaide and limit capital growth.

For this reason, I'm focusing all my future purchases within 10km of the CBD.
 
Semaphore will go well due to beach / city proximity. It's also closer to employment pockets and cheaper than some other beach suburbs. Look for either a character reno or a set & forget.
 
I don't think the Virginia project sways my opinion on existing investments or target areas. The net migration / population growth (happening in all mainland capitals) means more homes are needed. WA achieved this by rezoning existing land to allow more dwellings - that basically doubled the dwelling count but CG rolls on. 8300 more dwellings is a dr in the ocean comparatively
 
Virginia is set for an expansion.
http://www.adelaidenow.com.au/messe...o-triple-in-size/story-fni9ll1r-1227264731126
QUOTE]

No surprise there, lots of proposed greenfield land releases out North, see below link, published in 2010, there is a summary map on page 161

http://www.dpti.sa.gov.au/planning/30_year_plan

This will keep land values down in the outer North of Adelaide and limit capital growth.

For this reason, I'm focusing all my future purchases within 10km of the CBD.

That's a very expensive and overrated strategy.
 
Eastern Suburbs is on a roll!

Not sure if anyone else was at the auction of this property in Glenside on Sunday;

http://www.realestate.com.au/property-house-sa-glenside-119117475

The property was not in a liveable condition.... basically its a demolish and rebuild job. According to council property can't be sub divided. Price guide was $530k - $570k.

On auction day, there was more than 100 people lined up on the streets. 36 registered bidders. Ch7 news team was also there. What was even more amazing was the agent had organised a Chinese speaking interpreter for potential China bidders!


In the end, it was a shoot out between 2 Chinese families ( 1 was definitely from China since they were using the interpreter, the other I'm not sure). Final hammer price; $763K!!!! Most people at the auction gasped at the final price. Some were shaking their heads in disgust. Considering that the buyer would now have to spend another $15K to demolish the house and clear the land. Then maybe another $500K to build a new house. Its just crazy!

http://www.adelaidenow.com.au/reale...hinese-investors/story-fni0ci8n-1227262949315


I was also at the 1st open inspection of another newly listed eastern suburbs property over the weekend;

http://www.realestate.com.au/property-house-sa-st+georges-119304191

Property was supposed to go to auction. I get a call from the agent yesterday that property has sold prior! Just under $700k! Wow.

With more renewed interest from China buyers, especially for properties in the Linden Park and Glenunga International school zones, I can't see how the eastern suburbs market is not going to shoot up. Can't say the same for other suburbs though.
 
Not sure if anyone else was at the auction of this property in Glenside on Sunday;

http://www.realestate.com.au/property-house-sa-glenside-119117475

The property was not in a liveable condition.... basically its a demolish and rebuild job. According to council property can't be sub divided. Price guide was $530k - $570k.

On auction day, there was more than 100 people lined up on the streets. 36 registered bidders. Ch7 news team was also there. What was even more amazing was the agent had organised a Chinese speaking interpreter for potential China bidders!


In the end, it was a shoot out between 2 Chinese families ( 1 was definitely from China since they were using the interpreter, the other I'm not sure). Final hammer price; $763K!!!! Most people at the auction gasped at the final price. Some were shaking their heads in disgust. Considering that the buyer would now have to spend another $15K to demolish the house and clear the land. Then maybe another $500K to build a new house. Its just crazy!

http://www.adelaidenow.com.au/reale...hinese-investors/story-fni0ci8n-1227262949315


I was also at the 1st open inspection of another newly listed eastern suburbs property over the weekend;

http://www.realestate.com.au/property-house-sa-st+georges-119304191

Property was supposed to go to auction. I get a call from the agent yesterday that property has sold prior! Just under $700k! Wow.

With more renewed interest from China buyers, especially for properties in the Linden Park and Glenunga International school zones, I can't see how the eastern suburbs market is not going to shoot up. Can't say the same for other suburbs though.

Good suburb for PPOR but not good for investment though.

Chinese loves buying suburbs with top schools, so I am not surprised by what they are doing there. GIHS is highly rated, likewise for Linden Park.
 
I've been noticing the exact same trend Bentley - a lot of foreign interest in the inner East and inner South markets in particular.

A colleague of mine development a duplex catering to this exact market a little over a year ago, the entire design was co-ordinated with feng shui consultants.

Two overseas buyers purchased the properties for well over 20% of the average market price in the area.

Side note, we're looking at having an Adelaide meetup next week for anyone interest, thread here:

http://somersoft.com/forums/showthread.php?t=84714&page=17
 
One of the surprise performers in Sydney has been the epping, Eastwood , mainly driven by Chinese and Korean buys . Haven't analysed it , but My perception is it has out performed most areas .

Something to be aware of when looking else where

Cliff
 
One of the surprise performers in Sydney has been the epping, Eastwood , mainly driven by Chinese and Korean buys . Haven't analysed it , but My perception is it has out performed most areas .

Something to be aware of when looking else where

Cliff

How does this translate into other cities for those unfamiliar with eastwood/epping, Cliff? Are they prominent school areas?
 
Cliff, you can throw in Hurstville as well. Hideous prices for properties there compare to the surrounds.

DT, just to give you an idea:

Eastwood:

- Chinese/Korean shops
- Good local public schools.
- Train station
- Zone in to Epping Boys/Cheltenham Girls
- No too far from James Ruse.

Epping:
- Next to Eastwood which has a lot of Chinese/Korean shops
- Good local public schools.
- Zone in to Epping Boys/Cheltenham Girls
- Great train station with access 2 train lines.
- No too far from James Ruse.
 
Hi Everyone,
I am am trying to understand the subdivision regulations for the port Adelaide Enfield council development plan. I found some information about minimum site area and frontage for Comprehensive Development Policy area 55. But the thing is, I could not find these kind of information for other policy area( for example policy area 64). does it mean development and subdivision only happens in policy area 55 ?
anyone has experience in this area
 
How does this translate into other cities for those unfamiliar with eastwood/epping, Cliff? Are they prominent school areas?

Nice summary from Edison . James ruse is usually highest performing school in state and its a public school . I think you have to be in its catchment area and over the last ten -20 years that's attracted lots of Asian parents into the area , that's attracted Asian shops which has attracted more Asians etc .

Previously they were nice middle class areas , but nothing special , but that's changes in terms of prices etc . My BIL lives in Epping and they bought there some 25 years ago .

I still think the north shore is a nicer area geographically and there have been people who have bought in the north shore because they think Eastwood / Epping is over priced

Some of the more spectacular prices have been in places that were either re zoned or expected to be .

Not sure what the rental returns are . It's a PPOR sort of place , though in Adelaide , it looks as though there are similar areas developing , so if someone was looking for a more upmarket IP it's something to consider .

Another factor is the new railway line which connects it to the north shore line .

Cliff
 
More examples of houses in the Eastern suburbs ( in particular the Linden Park and GI school zones) selling like hot cakes!

All the following 3 properties were supposed to be auctioned on 28th March. All priced above $800K. Guess what? The 1st 2 have already sold prior earlier this week. Just received a sms from the agent of the 3rd property... Property will not be going to auction! and interested buyers should submit their best offers by Sunday. Wow!!

http://www.realestate.com.au/property-house-sa-glenunga-119220555

http://www.realestate.com.au/property-house-sa-glenside-119185375

http://www.realestate.com.au/property-house-sa-glenside-119220751
 
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