Peoples thoughts on Adelaide?

Swearengen said:
It's also proven that there are better returns to be made in outer ring suburbs than inner ring suburbs and in my view you are less exposed during a down turn.
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For people purchasing properties in the Eastern Suburbs or even in the CBD its more than just looking at returns. Being in the right school zone and proximity to work place (i.e CBD since most of Adelaide's work force is based there) is definitely a top priority. I'm not sure what kind of returns you are referring to, but in the past 1 year I've seen numerous sellers in eastern suburbs making a handsome capital gain on their property purchases.

Also, you can't put a price to prestige. Many people would kill to have a property in Burnside or College Park. Something to pass down to their kids.
Go to Burnside village on a weekday morning and you see tons of soccer moms sipping their latte in cibo in their designer outfits. While their X5s or Q7s are parked in the carparks. It's a lifestyle choice.

If it was all about returns, surely you won't see Eastern suburbs houses in the right school zones selling like hot cakes and foreigners (mainly Chinese buyers) dominating the weekend open inspections. Every weekend I witness this unfolding before my eyes.

Case in point;

http://www.realestate.com.au/property-house-sa-burnside-119404471

Property was supposed to go for auction this weekend. I went for the 1st open inspection before Easter. As usual it was packed. No surprises. On Monday I receive a call from the agent. Property has sold prior. I asked him how much it sold for, he tells me $740K!! The price guide was $640K. Even the agent tells me he was surprised at the offer. Of course, the vendor who is a local Australian grabbed the opportunity and sold prior to auction. Who wouldn't? The agent told me the buyer is not local. 26A which is the other semi-d sold for $540K in 2012.

I'm sure you'll be hearing a similar story from me in a few weeks time. Just a different property in the eastern suburbs.
 
Bentley said:
Also, you can't put a price to prestige. Many people would kill to have a property in Burnside or College Park. .
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This is very true. I'm currently looking in the "green belt" of Adelaide and I can confirm that good quality properties in these areas are selling very quickly. There seems to be a big big shortage of supply at the moment, not that many quality properties in these suburbs become available. I suspect the low interest rates is having an impact on this?
 
johnpendles said:
This is very true. I'm currently looking in the "green belt" of Adelaide and I can confirm that good quality properties in these areas are selling very quickly. There seems to be a big big shortage of supply at the moment, not that many quality properties in these suburbs become available. I suspect the low interest rates is having an impact on this?
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Not much land in Adelaide

If the economy wasn't so crap it would go bang

The hills and the gulf make some pretty tight boundaries
 
Bentley said:
Noob question. Where is the "green belt" of Adelaide?
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The green belt is actually the strip of parkland that surrounds the CBD, so green belt suburbs was originally the suburbs that were adjacent to that. However, its definition has stretched further and further and basically anywhere is designated.

Similar to golden triangle in perth, which was a triangle made from certain main roads and the suburbs between them, REA's will label anywhere as that.
 
Bentley said:
Noob question. Where is the "green belt" of Adelaide?
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It's not a common term, so it's not a Noob question at all.

I was referring to the suburbs surrounding the CBD from the north to around the East and South.

ie,

Medindie, Walkerville, St Peters, College Park, Rose Park, Toorak Gardens, Hyde Park, Unley Park, Millswood

etc etc
 
johnpendles said:
It's not a common term, so it's not a Noob question at all.

I was referring to the suburbs surrounding the CBD from the north to around the East and South.

ie,

Medindie, Walkerville, St Peters, College Park, Rose Park, Toorak Gardens, Hyde Park, Unley Park, Millswood

etc etc
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Thanks mate. In my earlier post from the Advertiser (post #531), College Park, Medindie, Rose Park, Toorak Gardens and Unley Park were all part of the top 10 most expensive suburbs for 2014. All with a median of more than $1mil.

Thing is most of the houses in these suburbs are tightly held and rarely come up for sale. Mostly passed on to future generations. The best chance I've seen in securing a property there is when its part of a deceased estate and the family members inheriting the property cannot afford its upkeep or simply don't have the time to look after such large houses. These are the people happy to sell of the inherited property fast and don't bother if the seller offered $100k less than their asking price.
 
Bentley said:
Thanks mate. In my earlier post from the Advertiser (post #531), College Park, Medindie, Rose Park, Toorak Gardens and Unley Park were all part of the top 10 most expensive suburbs for 2014. All with a median of more than $1mil.

Thing is most of the houses in these suburbs are tightly held and rarely come up for sale. Mostly passed on to future generations. The best chance I've seen in securing a property there is when its part of a deceased estate and the family members inheriting the property cannot afford its upkeep or simply don't have the time to look after such large houses. These are the people happy to sell of the inherited property fast and don't bother if the seller offered $100k less than their asking price.
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Yeh, they are certainly quite tightly held. They do become available, the problem is when a desirable property in these areas becomes available it gets snapped up very quickly
 
Can't seem to find it now, but thought someone said there was only 800 left at the Holden factory?

HOLDEN will make 270 more workers redundant at its car assembly line in Elizabeth, South Australia, next month as demand for locally-made vehicles hits new lows.
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Staff numbers will fall from 1530 production line workers to 1260 as a result of the cutbacks, and vehicle production will drop from 290 cars per day to 240 cars per day from May 25, when the redundancies are due to take place.

"We're hoping the majority of the redundancies will be on a voluntary basis, that will be our first priority," said Holden spokesman Sean Poppitt.

Holden has not ruled out further redundancies later this year.
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http://www.news.com.au/finance/busi...ontinue-to-slide/story-fnkgdhrc-1227312486624

And that reads to be only the production workers (though would expect they'd makeup the majority of the workforce at the plant).

I imagine some of the redundancy packages will be substantial, but then I've known ex-Holden workers to blow through a significant payout in short order...
 
The sad thing is half of those production workers will probably never work again. The whole 're-train in other industries' is clutching at straws as well considering Australia's graduate unemployment rate is at its highest level since the 1992/1993 recession. That's if these workers even have the time, financial circumstances, and capacity to get degrees in the first place.
 
Anyone on the ground or property interests in the south around Seaford in particular? I have one in Seaford west of Commercial Road being the older stock on the bigger blocks closer to the beach.

I'm starting to see some movement in price 10%-15% last 12 months.

Interested to hear thoughts from others...
 
Yes quite right D.T ;)

Question was a little loaded and point taken.

However, was interested to hear other perspectives and if anyone was active in the area.

I was probably being a bit cautious so as not to come across talking up my own book, so to speak.

Cheers mate :D
 
U2 Adelaide CBD project hauls in $25m in sales in one day

With interest rates at an all time low, I expect sales of OTP CBD apartments and eastern suburbs houses to start soaring. Watch out for more Sydney style auctions!

One hundred and seven apartments, of 257 available at the U2 development on Waymouth St, were sold at the launch, which attracted 300 pre-registered buyers to Adelaide?s Intercontinental hotel.

South Australian property developer, Datong Australia, which is behind the construction of the 25-storey building, said Saturday sales of the one, two and three bedroom apartments amounted to around $25 million.

Datong brand manager Zac Mengliang Yu said the rooftop gym, sauna, spa and cinema, available to all purchasers and to be known as Utopia, had proved a huge attraction to would-be buyers.

Sales demographics had pivoted equally between investors and buyers intending to live in the properties said Tony Matthews, general manager at Connect Real Estate Urban Projects which is marketing the U2 development.

I have not seen this level of interest or activity in a new development since pre GFC,? he said.
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http://www.adelaidenow.com.au/busin...sales-in-one-day/story-fni6uma6-1227336618472
 
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