Timing of where to buy SA or NSW?
- Thread starter jippa3000
- Start date
Has it really got the bad? I know that in mussel brook the number of rentals did shoot up midto late last year, obviously in terms of getting in the mining boom it's too late we but what about standard cg? Surely once the mining sorts itself out its cg will be well above say state average?
So going back to the OP, assuming long term cycles, do you think that say mussel brook has gone up 15% in recent times, it will retreat back 5% or so in the next couple of years being in line with standard cycles, ie buying now is not a good idea?
Last edited:
Ill admit my information may be a month or two out of date, but I've certainly noticed more rental stock on the market than there was towards the end of last year. A lot of new houses coming on the market too, which is similar to whats been happening in Rutherford and Aberglasslyn for a while now. Some locals were complaining about being forced out of the area because of the high rental prices.
I'm not going to speculate on what the region's prospects might be long term, but I think on the face of it, the town's done its dash for a while. Since the town's more reliant on mining than others, as these events have demonstrated, CG will be more prone to volatile movements.
Cjay, no offence but I don't think you know Elizabeth that well. Davoren park is probably the worst area. Elizabeth is a well planned city originally built to accommodate working class migrants. In the 70's and 80's they started flushing the toilets in the western suburbs of Adelaide and human sewerage landed in Elizabeth. I would buy anwhere walking distance to the hospital or major shopping centre or in the east. There is also a nice rural area called Macdonald park that adjoins Elizabeth to the west where at the moment you can buy a house and small acreage in mid 400's.
None taken JASA. I agree that Davoren Park is the worst between any suburb in Elizabeth and itself, however I don't designate 'Davo' as a part of Elizabeth since the suburb merger. It has clearly decoupled with the Elizabeth's, instead being forced into the Peachy Belt region. Government infrastructure and development funding follows these routes. But that's just semantics in the end.
SAHT developed Elizabeth, we know what it was always intended for.
MacDonald park, maybe if the munitions dump goes for good, so you don't have to share the suburb with what looks like a concentration camp next door.
SAHT developed Elizabeth, we know what it was always intended for.
MacDonald park, maybe if the munitions dump goes for good, so you don't have to share the suburb with what looks like a concentration camp next door.
Accuracy not offence
I am sure he does but anyone can make a mistake. To say Elizabeth was built to house horror tenants is incorrect. My point was not to be offensive but to identify Davoren Park as a dicey area and to clarify that Elizabeth was actually a very well planned city that i believe has potential to become a nice place to live again once the undesirable elements are thinned out. Most areas of Elizabeth have schools, shops and transport within easy walking distance of any home and until recent times there have been very few housing developments anywhere in Adelaide or indeed Australia that have been so well thought out.
I am sure he does but anyone can make a mistake. To say Elizabeth was built to house horror tenants is incorrect. My point was not to be offensive but to identify Davoren Park as a dicey area and to clarify that Elizabeth was actually a very well planned city that i believe has potential to become a nice place to live again once the undesirable elements are thinned out. Most areas of Elizabeth have schools, shops and transport within easy walking distance of any home and until recent times there have been very few housing developments anywhere in Adelaide or indeed Australia that have been so well thought out.
I laughed at this.
I had to go to Hackam West yeterday,some places looked like a warzone.Maybe there was a sewer diversion.Glad no offence taken CJay. Personally although I grew up in Elizabeth I would not live North of Gepps cross. Too dry and dusty for me up North. I am looking for another investment property right now and am so tempted to snap up a bargain in Elizabeth, only trouble is that whatever I buy next I need to live in for a year. I just don't think I could do Playford living.....Onkaparinga is calling me.
You've never actually been to Elizabeth? It would have to be one of the poorest suburbs in the country, its rife with crime, there is limited employment opportunities within a reasonable radius, its miles from anything interesting - its a hole - people who recommend buying there probably haven't actually been there or lived there. it is very much stigmatised in Adelaide, people only live there if they have to.
I'm really confused by this post because to me it's so inaccurate. There's no denying it's a rough area but far better than what it use to be, and still even further away from being one of the poorest suburbs in the country. Miles away from anything? How many decades ago did you last visit the area? My best mates family is from the Elizabeth area so I already knew what went on before I invested there and it's not as bad as what your making it out to be. It's continuing improvement with better infrastructure, less housing trust, newer units/townhouses etc. To me it is the perfect place to invest if you want a long term investment.
Anon, That was well put. I agree with you.
Sure, there are some feral scumbags around certain streets in the area which is why i always suggest intending buyers should never buy without first checking out the street.
The Link put up by tambourineman is a news report of the shooting of a motorcyclist at 1.30 am in the morning. Could be related to an ongoing bikie war in Adelaide? But this is not a regular occurence around Elizabeth by any stretch of the imagination. We hear of almost daily shootings in the western suburbs of Sydney yet many investors are buying there.
To write that we are miles from anything interesting is simply not true. Thirty minutes to the Barossa Valley, Fifteen minutes to the National Park, Forty minutes from the City. As far as Shopping is concerned we are spoiled for choice with 3 major shopping precints within a ten minute drive.
This area will do the wife and i just fine until we retire to the South East.
Stangman.
Sure, there are some feral scumbags around certain streets in the area which is why i always suggest intending buyers should never buy without first checking out the street.
The Link put up by tambourineman is a news report of the shooting of a motorcyclist at 1.30 am in the morning. Could be related to an ongoing bikie war in Adelaide? But this is not a regular occurence around Elizabeth by any stretch of the imagination. We hear of almost daily shootings in the western suburbs of Sydney yet many investors are buying there.
To write that we are miles from anything interesting is simply not true. Thirty minutes to the Barossa Valley, Fifteen minutes to the National Park, Forty minutes from the City. As far as Shopping is concerned we are spoiled for choice with 3 major shopping precints within a ten minute drive.
This area will do the wife and i just fine until we retire to the South East.
Stangman.
Thanks for all the great info on the topic guys.
We are heading over to SA this weekend to have a look at a few opens.
After doing the numbers and seeing if these IPs fit our strategy, we are going to be making offers on average of about 30k under what they are asking.
If anyone is from SA and knows a few places to check out let me know
Ill update on how we go, just going with open minds and if the numbers stack up we will go ahead!
Cheers
James
We are heading over to SA this weekend to have a look at a few opens.
After doing the numbers and seeing if these IPs fit our strategy, we are going to be making offers on average of about 30k under what they are asking.
If anyone is from SA and knows a few places to check out let me know
Ill update on how we go, just going with open minds and if the numbers stack up we will go ahead!
Cheers
James
Its a slow time of year for alot of places, with alot more improvement around Middle of the year.
Interesting information, thanks for sharing... As it happens I'm going to be looking around Elizabeth a couple of days next week. Was more interested in those already tenanted anyway, this sort of confirms the properties I should be considering more than others.
Please let us know how you go with your lowball offers
Here is a special for those headed over to SA.
I simply cannot understand why this property has not sold.It is located in a nicer street in Elizabeth East. Check it out -
http://www.realestate.com.au/property-house-sa-elizabeth+east-111974827
Although i have not been into the property i do drive past at least twice a day. It is brick veneer, 3 bedrooms with Ensuite. At 195K it is value buying.
Has been on the market for about 3 months. Was a biy untidy looking outside but last week some people stayed for a few days and cleaned it up. Saw a skip bin they had filled full of rubbish and green waste one day when driving past.
There is another property for sale in the same street for sale at 209k. Tidy property with good tenants. The house next door to this one has feral tenants, but i have been told they are moving to QLD very soon. The street will rejoice when they leave! Here is the property
http://www.realestate.com.au/property-house-sa-elizabeth+east-113019731
Best of luck with lowball offers. I cannot see you succeeding.
Stangman.
I simply cannot understand why this property has not sold.It is located in a nicer street in Elizabeth East. Check it out -
http://www.realestate.com.au/property-house-sa-elizabeth+east-111974827
Although i have not been into the property i do drive past at least twice a day. It is brick veneer, 3 bedrooms with Ensuite. At 195K it is value buying.
Has been on the market for about 3 months. Was a biy untidy looking outside but last week some people stayed for a few days and cleaned it up. Saw a skip bin they had filled full of rubbish and green waste one day when driving past.
There is another property for sale in the same street for sale at 209k. Tidy property with good tenants. The house next door to this one has feral tenants, but i have been told they are moving to QLD very soon. The street will rejoice when they leave! Here is the property
http://www.realestate.com.au/property-house-sa-elizabeth+east-113019731
Best of luck with lowball offers. I cannot see you succeeding.
Stangman.
