Southern Adelaide investors- market update please

I'm contemplating off-loading one of my Morphett Vale properties, but don't have much free time to get to opens or auctions to get a feel for this market. For the people on the ground in/around that area have you noticed any pick up in demand/prices this year???

I've noticed the affordable homes programme is still selling a few around that suburb and it seems whereas most were being offered about $220k 6 mths ago, now seem to be asking $245k ish, has anyone else noticed this?? I could be completely wrong though...

The property I'd been shifting is very difficult to get comparable sales for as it is a old house on a courtyard size block (I subdivided off the back yard), so not many comparables of these types around to get sales data from. Any feedback I get from you fellow SS'ers is greatly appreciated.
 
Morphett Vale is a decent sized suburb and theres some better pockets than others. It comes down to knowing which streets are good.

Mid 250's is fairly normal there now for decent sized houses for the most part (starting range). In saying that, a client picked one up for $190K so anything can happen really.

What you've described sounds a little like this one http://www.realestate.com.au/property-unit-sa-morphett+vale-119866069 ?

But why are you selling? Do you actually need to sell or just trying to pocket from growth? I think there's still plenty of room to move upwards in the area as it's a bit nicer than surrounding areas yet price doesn't really reflect that yet.

Why not rent it a bit longer?
 
Its nearly 2 years since i bought at Christie Downs 3X1X1 with updated kitchen,bathroom on 800sqm for $245k( Mortgagee Sale),last sold in 2009 for $285k. Yesterday i had 2 agent vals, one at $290-300k, the other$ 290-310k.
 
Its nearly 2 years since i bought at Christie Downs 3X1X1 with updated kitchen,bathroom on 800sqm for $245k( Mortgagee Sale),last sold in 2009 for $285k. Yesterday i had 2 agent vals, one at $290-300k, the other$ 290-310k.

I bought a 1970's 3x1x1 in Christie Downs close to the station in 2010 for $250k and it's had no capital growth since I checked last year. Would be very happy if these numbers were accurate i.e +18% growth since then. I will go and check with agents. Keen to hear what others are seeing.
 
I bought a 1970's 3x1x1 in Christie Downs close to the station in 2010 for $250k and it's had no capital growth since I checked last year. Would be very happy if these numbers were accurate i.e +18% growth since then. I will go and check with agents. Keen to hear what others are seeing.

Hate to be harsh, but probably not to be honest since you paid too much. Possibly high/late 200's now. It's on the move again though so you should see some good growth over the next 12-18 months.

What rent are you getting? It'll likely be renting for low $300s so it can keep giving you some pocket money each week while you wait, no biggie :)
 
cheers DT

Morphett Vale is a decent sized suburb and theres some better pockets than others. It comes down to knowing which streets are good.

Mid 250's is fairly normal there now for decent sized houses for the most part (starting range). In saying that, a client picked one up for $190K so anything can happen really.

What you've described sounds a little like this one http://www.realestate.com.au/property-unit-sa-morphett+vale-119866069 ?

But why are you selling? Do you actually need to sell or just trying to pocket from growth? I think there's still plenty of room to move upwards in the area as it's a bit nicer than surrounding areas yet price doesn't really reflect that yet.

Why not rent it a bit longer?

That's a good comparable, cheers for the link, I'll keep my eyes on this one.

Why we are thinking of selling?- Hubby is getting nervous, I'd rather hold, but we have been aggressive purchasing this year, (under contract on a commercial site in Royal Park, still got more money to spend on the Plympton subdivision), he is thinking we need some breathing space, too close to the limit on our line of credit, but any argument I can use to sway him would be great, I say "fold ya ears back and go like blazes!"
 
I'm contemplating off-loading one of my Morphett Vale properties, but don't have much free time to get to opens or auctions to get a feel for this market. For the people on the ground in/around that area have you noticed any pick up in demand/prices this year???

I've noticed the affordable homes programme is still selling a few around that suburb and it seems whereas most were being offered about $220k 6 mths ago, now seem to be asking $245k ish, has anyone else noticed this?? I could be completely wrong though...

The property I'd been shifting is very difficult to get comparable sales for as it is a old house on a courtyard size block (I subdivided off the back yard), so not many comparables of these types around to get sales data from. Any feedback I get from you fellow SS'ers is greatly appreciated.

don't suppose that was the one off of Acre Ave ?
 
Hi Jim

Its nearly 2 years since i bought at Christie Downs 3X1X1 with updated kitchen,bathroom on 800sqm for $245k( Mortgagee Sale),last sold in 2009 for $285k. Yesterday i had 2 agent vals, one at $290-300k, the other$ 290-310k.

Cheers for the info.

I'll get a couple of agents in to appraise next, and in the mean time keep working on hubby to stop stressing
 
I bought a 1970's 3x1x1 in Christie Downs close to the station in 2010 for $250k and it's had no capital growth since I checked last year. Would be very happy if these numbers were accurate i.e +18% growth since then. I will go and check with agents. Keen to hear what others are seeing.


Quoted RP data median price is around $250-255k, I think that is a little bit low to what an actual property is worth.

It depends what street you are on ?

My 3 properties got valued at $290k 12 mths ago, I would say they are just slightly better than the average house & location in that area. Maybe similar to Jim they might be worth 290-310 now

Recent sales. two houses both went for around the $300k mark. Imelda crt and cecilia crt which are both near the Christies Beach side....
 
Nah, not Acre Ave.

I have seen a few come onto the market over the 4yrs I've been invested there, but not many, there is this one I'm watching with interest at present as mine is comparable
http://www.realestate.com.au/property-house-sa-morphett+vale-119535699
here is the vacant hammerhead lot behind it they sold off in 2013
http://house.ksou.cn/p.php?q=Morphe...8&address=108A+Wheatsheaf+Road,+Morphett+Vale

Wheatsheaf is a main road and that area from states/panatalinga/wheatsheaf is not a great area
 
Nah, not Acre Ave.

I have seen a few come onto the market over the 4yrs I've been invested there, but not many, there is this one I'm watching with interest at present as mine is comparable
http://www.realestate.com.au/property-house-sa-morphett+vale-119535699
here is the vacant hammerhead lot behind it they sold off in 2013
http://house.ksou.cn/p.php?q=Morphe...8&address=108A+Wheatsheaf+Road,+Morphett+Vale

Andrew Biszczak owner of Open Door real estate is one of the biggest gimps going. I would NEVER EVER buy a house from them. You can see its been overpriced - it is now reduced down to 290k. What was the original price that clown marked it at ?
 
Andrew Biszczak owner of Open Door real estate is one of the biggest gimps going. I would NEVER EVER buy a house from them. You can see its been overpriced - it is now reduced down to 290k. What was the original price that clown marked it at ?

$295k original asking price

owners paid $270k for it (exactly as it is now) in Jan 2012

I'll keep in mind to avoid this agent if deciding to sell, cheers for the heads up
 
I bought a 1970's 3x1x1 in Christie Downs close to the station in 2010

Mine is over by the Lonsdale Heights primary school, The previous owners paid way too much in 09, as a lot of people did.Its now catch up phase,so Erica,tell hubby to stay on the ride!!!!!!
 
cecilia crt which are both near the Christies Beach side....
Mine is in Tenterton, by the lonny primary school,not far from Cecilia,so the comparables are close.I nearly bought in Cecilia but the agent was being a D*&) so i bought at Tenterton.
 
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