It's out to tender now. It's already happening. The super way is finished, the southern expressway duplication is done and torrens to torrens is out to tender now and will start next year.
Peoples thoughts on Adelaide?
- Thread starter havinago
- Start date
I need to go back and have a look now it's finished. I left Radelaide just as they were starting to inconvenience people. Torrens to Torrens I wasn't aware of...
I would lean towards inner-city north-eastern suburbs such as hectorville, tranmere etc if you can spot a bargain. In my experience these houses don't tend to attract the nasty type of tenants that have been described in this thread in the far south/north of Adelaide, and there is huge development/subdivision/hammerhead potential to make big money.
Danae Leslie
Property Manager
www.steadfastproperty.com.au
They don't seem to attract the 8-10% yields you can make in the outer areas either unfortunately!
Something about cake and eating it too?
Just like cakes, I find some of the best property deals are the ones you make yourself.
Some fantastic yields from developing/renovating, and CG if you come across the right property.
Am just starting to look at the Adelaide market, price range would be on the 300 - 350 mark. I copy/pasted the quote above ( thanks Brady ) from a different thread as I searched through the forum.
My high level scan, from a price point, I have picked to close in on
Para Hills -- 18 kms from City Centre, PF Median 290K
Gilles Plains -- 12.2 kms from City Centre, Median 337K
Clearview -- 9.6kms, median 356K
Holden Hill -- 13.2kms, median 320K
Ingle Farm -- 16.1kms, median 290K.
Curious tho, Holden Hill, Ingle Farm is close to Highbury ( median 455K) , median price difference is quite big.
Thanks.
Highbury has a lot of curvy little streets, some on hills, in and around the River Torrens with some very nice houses that would lift the median value of the suburb I suspect.
http://www.homesales.com.au/location/ingle-farm-sa/
Ingle Farm has a population of 8620 residents, with an average income of $606. The median price for houses is $284,067 and the median price for units is $241,799. House prices in Ingle Farm have grown by -5.88% in the past 3 years and -0.32% last year. The average house in Ingle Farm is rented for $320 per month and returns a rental return of 5.60%.
23% Rented
http://www.homesales.com.au/location/holden-hill-sa/
Holden Hill has a population of 3176 residents, with an average income of $621. The median price for houses is $327,264 and the median price for units is $239,138. House prices in Holden Hill have grown by 3.86% in the past 3 years and 2.88% last year. The average house in Holden Hill is rented for $310per month and returns a rental return of 5.00%.
36% Rented
http://www.homesales.com.au/location/highbury-sa/
Highbury has a population of 6647 residents, with an average income of $827. The median price for houses is $425,414 and the median price for units is $298,344. House prices in Highbury have grown by 2.10% in the past 3 years and 0.49% last year. The average house in Highbury is rented for $320 per month and returns a rental return of 4.75%.
11% Rented
Highbury is a better area demographically and is more family orientated so it has better houses. It's also close to the hills and you get nice views. Holden Hill is going through a gentrification with property investors sub dividing a lot of the old blocks. The surrounding suburbs of Holden Hill have also gone through a similiar transition e.g Hillcrest, Oakden, Klemzing. So it's an area on the rise being close to North East Road.
As for Ingle Farm I don't really associate it with being North East because when I think Ingle Farm I think Bridge Road/Pooraka region more. Not sure what the houses are like around there either.
Thanks heaps for the tips.
Just another curious point, whether I am reading this correctly. I picked up another tip from the forum, just to check the no of HCs in an area.
http://atlas.id.com.au/tea-tree-gul...1&topicAlias=renting-social-housing&year=2011
Where I had a sample area selected, Modbury North, shows number of houses = 188, number = 9, percent = 4.8.
Number = 9, represents the HCs in the area?
Thanks.
Just another curious point, whether I am reading this correctly. I picked up another tip from the forum, just to check the no of HCs in an area.
http://atlas.id.com.au/tea-tree-gul...1&topicAlias=renting-social-housing&year=2011
Where I had a sample area selected, Modbury North, shows number of houses = 188, number = 9, percent = 4.8.
Number = 9, represents the HCs in the area?
Thanks.
Attachments
Correct. You won't find a huge amount of Housing Trust left in the areas, as they are slowly being sold off. A contact within the Trust told me recently for every 10 trust properties sold, only one property is replaced - the bulk of social housing is being shouldered onto NRAS stock.
Hi, hobo-jo:
I notice that you have very contrary views comparing to many others. I am an extreme contrary person too. I get into the market at least 2 years earlier than See-Change.
However, I have got lost about your successful story/strategy in your investment. It would be nice if you can share how much net gain have been made by selling in the high and buy in the low. Just some examples.
Also, when are you going to be back to the market in Adelaide? Two years later?
Hi ToGetProperty
I think you will find that hobo, after 8 years and 2600+ posts on this Property Investment Forum has never actually bought an investment property.
If you were to purchase in Oaklands Park, it'd probably be more for a CG play rather than yield or cash flow. Prospects long term seem reasonable - it's in a relatively strong location in close proximity to Marion shopping centre, Flinders Uni, the Seaford rail line and the new hub at Tonsley Park, so it does have a bit going for it and would have relatively strong tenant demand based on location.
Thanks.
I'm looking at purchasing an IP around the Edwardstown region. The prices have been stagnant since 2011 but I think it has potential long term due to it's location and the infrastructure around the suburb.
The other area I was thinking of was Pooraka where I could get an equivalent house for 100k less than Edwardstown with better yields. I'm not sure if the CG in Pooraka will match Edwardstown in the future but who knows.
