Peoples thoughts on Adelaide?

Ah, fair enough then. :)

If partners job isn't secure, get some buffer funds loaded up in the offset account to cover duration of X months expenses. Then you can ride any problems out and maintain assets which will serve you well long term.
Thanks! I've been lurking on these forums for probably 4 months now, and it's amazing how much i've learnt already. Looking forward to sticking around :)
 
Thanks! I've been lurking on these forums for probably 4 months now, and it's amazing how much i've learnt already. Looking forward to sticking around :)
What I'd do is workout the plus/minus situation of each of the properties (as in the net result of rent in vs mortgage/PM/rates/water/insurance, worked out to a monthly basis). Ignore tax for this bit imho. Say its -100 a month. Just keep 6 months worth in that property's offset account, along with an addition couple K to allow for any maintenance requests. Do this for each property.

Then, if job is lost, property doesn't need to be thought about at all. Can spend a couple of months looking for a new job and keep your houses.

Luckily in Adelaide, most of the properties are positive cashflow, even at 105% financing, so that makes the above sums even simpler again ;)
 
What I'd do is workout the plus/minus situation of each of the properties (as in the net result of rent in vs mortgage/PM/rates/water/insurance, worked out to a monthly basis). Ignore tax for this bit imho. Say its -100 a month. Just keep 6 months worth in that property's offset account, along with an addition couple K to allow for any maintenance requests. Do this for each property.

Then, if job is lost, property doesn't need to be thought about at all. Can spend a couple of months looking for a new job and keep your houses.

Luckily in Adelaide, most of the properties are positive cashflow, even at 105% financing, so that makes the above sums even simpler again ;)
I'll definitely keep that in mind, and i'll be sure to work out the plus/minus you've suggested. Thanks for the tips!
 
I understand statistics etc. and why they are important. However I believe a large percentage of Adelaide's unemployed don't want to work. I also feel that because suburban Adelaide is an affordable place to live, you can live quite comfortably on unemployment benefits, especially if you are young and sharing expenses with friends or family.
With the fear of quoting myself and also quoting an article produced by 'The Advertiser' as 'The Advertisers' truth is often blurry, however the article did contain an interesting quote from 'The Wine Industry'

from 'The Advertiser'

Unskilled vintage jobs lasting between three and ten weeks can earn casual workers willing to undertake long shifts up to $1700 a week.

Despite some Adelaide suburbs having an unemployment rate in excess of 32 per cent, employers still reported low numbers of domestic applicants from metropolitan areas.


?This is because potential applicants based in metropolitan areas may not be attracted to move either temporarily or permanently to a small country town in a regional area where a large number of South Australia?s wine industry employers are located,?? the Wine Industry Association said in a written submission to the inquiry.

?Therefore, in some circumstances wine industry employers may have no other option but to rely on temporary visa holders to fill vacancies.??
full article here
 
Matthew - went to some Opens on the weekend and they seemed busier than previously. Are you finding the same in the areas you service?
 
Matthew - went to some Opens on the weekend and they seemed busier than previously. Are you finding the same in the areas you service?
Yes, there is definitely an under supply for houses in the North East of Adelaide at the moment. Units and apartments are taking a little longer to sell with less demand than houses.

Just doing a basic search on re.com.au within individual suburbs, then doing the same search excluding those 'Under Contract' shows how few houses are for sale.
 
Yep, couldn't agree more in regards to the North East, we've been looking for a PPOR out there for the last 3 odd months, and not a lot coming up that is cheap enough for us to buy. Saw one in Dernancourt for $270k, 640sqm, 3 bedder on the land at the moment, but that was gone real quick. Everything else is bumping 400k it seems.
 
Linden Park Primary School turning new students away

Remember people; if you want a cashed up foreigner to buy your property it has to be in a top school zone.


As the Eastern Courier Messenger reported last year, skilled migrants moving into the Linden Park zone were partly behind a surge in enrolments.

Ms Porter said at the time that Chinese and Indian skilled migrants were attracted by the schools academic results and its International Baccalaureate program.

More than half the schools population was from a non-English speaking background.

Linden Park had the best NAPLAN results for a public primary school in metropolitan Adelaide in 2013.

http://www.adelaidenow.com.au/messe...358295521?sv=2df46d255a1c515a5b040337dc868a07
 
I work in the wine industry now and I can guarantee there is nobody making anywhere near that kind of money. I drive 50km each way to work to get 6-8 hours a day at $20.39/hr. The only reason it's worthwhile for me is my partner works for the same company so we share the commute, and the free wine is worth more than my wage ;)

It's unfeasible to expect somebody who has to keep paying rent in Adelaide to move to a regional area for 6 or 8 weeks work. Most of the foreign cellar hands I spoke to didn't even break even after factoring in rent and plane tickets.

With the fear of quoting myself and also quoting an article produced by 'The Advertiser' as 'The Advertisers' truth is often blurry, however the article did contain an interesting quote from 'The Wine Industry'

from 'The Advertiser'



full article here
 
What you guys think of this and recon it could boost prices around this area?

http://www.adelaidenow.com.au/news/...182df4d25d1545d5254a005#.VVl41ZRpg8o.facebook

SOUTH Australia will be the ?motorsport capital? of the nation after a $7.5 million investment in Tailem Bend?s SA Motorsport Park.

The Federal Government says the project will create 350 jobs during construction, and 25 jobs after.

The park is the vision of Peregrine Corporation director Sam Shahin and will include a hotel, accommodation and restaurants.
 
I work in the wine industry now and I can guarantee there is nobody making anywhere near that kind of money.
Thanks for the anecdotal evidence.

News Limited always comes up with these sensationalised stories. A couple of months ago I read a story claiming bricklaying was the road to riches.
http://www.dailytelegraph.com.au/ne...-willing-workers/story-fni0cx12-1227245387308

Mr White said it was not uncommon for brickies at the top of their game to earn $6000 for a four-day week.

?I know brickies who live in $7 million homes,? he said.

In a couple of months we'll probably see some more stories about being short of nurses and teachers:D
 
What you guys think of this and recon it could boost prices around this area?

http://www.adelaidenow.com.au/news/...182df4d25d1545d5254a005#.VVl41ZRpg8o.facebook

SOUTH Australia will be the ?motorsport capital? of the nation after a $7.5 million investment in Tailem Bend?s SA Motorsport Park.

The Federal Government says the project will create 350 jobs during construction, and 25 jobs after.

The park is the vision of Peregrine Corporation director Sam Shahin and will include a hotel, accommodation and restaurants.
Motorsport capital? I think Bathurst/Albert Park/Phillip Island residents will argue with you there!
 
I had a look around the LPPS and GIHS zoned suburbs and I already noticed the jump in prices over last few months. Too much -ve gearing for my liking as it will just burn up my cash.
Yeah that's what puts me off the Eastern suburbs as well. If I was earning double my current salary and wasn't buying/holding I would consider venturing into it. I'd rather use the East for a PPOR.
 
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