Peoples thoughts on Adelaide?

been trying to find the stats on this too! he said for Houses and Units, would like to see where the property professor got his stats from. Good news if its true :)
 
Yeah i'd like to know where. Just had 2 properties valued last week. One at elizabeth grew by $2,000 (bought 18 months ago) and other property bought 4 years ago has gone down in value... sigh... cant buy any more properties for a while
 
Yeah i'd like to know where. Just had 2 properties valued last week. One at elizabeth grew by $2,000 (bought 18 months ago) and other property bought 4 years ago has gone down in value... sigh... cant buy any more properties for a while

What was one in Elizabeth valued at? Mine increased by $15k in 24months.

Where is the othe property?
 
It is solid brick. My broker said they were basing the price on what I bought it for (whatever that means) but valuer supposedly did go out to see property. At least they valued it $10k more than the CBA mywealth valuation. At least the property is supporting itself (repayments, rates repairs etc).
 
It is solid brick. My broker said they were basing the price on what I bought it for (whatever that means) but valuer supposedly did go out to see property. At least they valued it $10k more than the CBA mywealth valuation. At least the property is supporting itself (repayments, rates repairs etc).

Was it a computer val, or a kerbside? A purchase that old shouldn't have the purchase price reflecting on val.
 
Mid year state by state property market roundup

Adelaide

Median house price: $420,000; 3.1% increase in last 12 months. Median unit price: $345,000; 0.7% increase in last 12 months.
Vacancy Rate: 1.6%

Adelaide?s housing market has essentially remained flat (in fact fallen behind after taking inflation into account), in line with its underperforming economy and high unemployment rate. Demand for property remains subdued with activity driven more by necessity than desire to upgrade or invest.

http://propertyupdate.com.au/mid-year-state-state-property-market-roundup/
 
Hey, it was elizabeth north. freestanding 800+sqm - $170k, can i ask what yours was valued at?

Elizabeth East 923sqm valued @ $190k purchased $175k

What you purchased it for should be irrelivant, although I've come across valuers who like to tell you what it was purchase for and the market hasn't changed that much. That's when have to remind them how to do there job, it should be always based on comparables, when ever in doubt for my clients or trying to maximum available equity will get the comparables sorted prior, ready for any possible battles with valuers.


I would be surprised if your property didn't come back higher if another valuation was completed... closer in-line with Corey's client last month.

I had a clients 850sqm freestanding in Elizabeth North come back at 185k a month ago. Is yours fibro?
 
Adelaide

Median house price: $420,000; 3.1% increase in last 12 months. Median unit price: $345,000; 0.7% increase in last 12 months.
Vacancy Rate: 1.6%

Adelaide?s housing market has essentially remained flat (in fact fallen behind after taking inflation into account), in line with its underperforming economy and high unemployment rate. Demand for property remains subdued with activity driven more by necessity than desire to upgrade or invest.

http://propertyupdate.com.au/mid-year-state-state-property-market-roundup/

Interested to know the 6 months data that Peter Poulizos (Property Professor) was referring to on Monday's YourMoneyYourCall. He said that Adelaide had the strongest growth over that 6month period.
 
Yeah i'd like to know where. Just had 2 properties valued last week. One at elizabeth grew by $2,000 (bought 18 months ago) and other property bought 4 years ago has gone down in value... sigh... cant buy any more properties for a while

You see, this is the exact reason I did not end up purchasing in this area.
I had been trying to put this point across, but I am always getting challenged
 
You see, this is the exact reason I did not end up purchasing in this area.
I had been trying to put this point across, but I am always getting challenged

Just because he bought badly doesn't mean the area sucks. People have been showing just as many examples going the opposite way.
 
As always, the area is exiting what was a correction from it's previous peak. Buying during that correction, or at the median/upper end of the bottom isn't going to show much capital appreciation *at this time*. Meanwhile If you've bought sub median properties during this time, you can have achieved 20-30% and 10% yields without much effort.

But y'all stay out of Adelaide, ya hear? :)
 
From the anecdotal evidence of the business, I find 80% of my clients SA purchases are northern than South for sub 300k properties. The yields aren't as strong down south, however there are some great deals which do periodically get snapped up - primarily being seen around Huntfield Heights, Hackham etc.

I've been looking for the odd deal down there personally, but haven't found anything to compare to the deals which come up north - especially in the reno section of the market. I'd say this is partly due to the competition down south, as there is more activity in the owner occupier market so it's priced accordingly.
 
Very interestig Cjay.. I was looking at hackham west around November last year, there seems to be a bit of development/ gentrification between the city and southern suburbs. Or is that just pipe dream stuff
 
Very interestig Cjay.. I was looking at hackham west around November last year, there seems to be a bit of development/ gentrification between the city and southern suburbs. Or is that just pipe dream stuff

Development and gentrification in all parts of Adelaide right now, with most of it obviously following the lower median areas as it's cost effective. North and South having been humming along for a while, but West has really started to pick up on the development side as of recent too.
 
From the anecdotal evidence of the business, I find 80% of my clients SA purchases are northern than South for sub 300k properties. The yields aren't as strong down south, however there are some great deals which do periodically get snapped up - primarily being seen around Huntfield Heights, Hackham etc.

I've been looking for the odd deal down there personally, but haven't found anything to compare to the deals which come up north - especially in the reno section of the market. I'd say this is partly due to the competition down south, as there is more activity in the owner occupier market so it's priced accordingly.

Cjay, since its OO, do you think long time growth south outperform north?
Sorry to bring this discussion again. Especially when people think "holden", although we know that's missleading
 
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