Why is land so cheap on Hindmarsh Island???

Yes I know there have been water issues blah blah blah, but hell where else in the world can you buy a waterfront block for less that $130k??? One hour from a capital city???? Come on !!! Dry blocks in the desert in any other direction are selling for the same money. Why? Someone tell me why not to buy there?
 
Yes I know there have been water issues blah blah blah, but hell where else in the world can you buy a waterfront block for less that $130k??? One hour from a capital city???? Come on !!! Dry blocks in the desert in any other direction are selling for the same money. Why? Someone tell me why not to buy there?


Maybe no-one has discovered it yet.

If you think it is worth it, go for it.

$130k is not a lot of money (well, it is, but you know what I mean), so if you can afford the repayments, why not get into it?

Most people follow the herd, and wait for others to start something before stepping in. Fear of the unknown.

What's there to fear here?

Waterfront land for a song.

You know what will happen if you buy a block and put a $500k house on it?

In 5 years there will be about 20 of them.
 
Sounds cheap - especially for waterfront. But a couple of questions...

- Do they have building permits on the land to allow you to build permanent dwellings?

- Services connected?

and the big one.....

- Any territorial claims on the land that dictate or limit what it can be used for?



g
 
I was wondering the same when I went to Adelaide, so I made the trip out there to have a look. As already noted, they went through a dry spell,but I thought it was great value too. My wife noted however that it wasn't well developed, with no trees anywhere, it appeared quite barren. Perhaps over time they will work on this.
 
Driving from Hindmarsh Island to the CBD. Anything closer is just urban sprawl.

As Adelaide is rather regional, most of the commercial, business and retail is centralised to the CBD, with the only other viable shopping district which is closer being Marion. In which case it would be better to just live near there.

The only people I've known living their are retiree's and a lawyer who uses it as a weekend house occasionally.
 
I was interested reading the thread, so had to have a look at the distance :D
 

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Perhaps the mortgage insurers restrict lending in the area, I know they do for lots of other islands. This obviously reduces the number of elgible borrowers, and therefore the price.
 
Yes I know there have been water issues blah blah blah, but hell where else in the world can you buy a waterfront block for less that $130k??? One hour from a capital city???? Come on !!! Dry blocks in the desert in any other direction are selling for the same money. Why? Someone tell me why not to buy there?

russell island:p
 
Maybe it's something to do with the weather. Hindmarsh Island conjures up images in my mind of cold windy winter days, with stunted trees angled over due to the influence of the prevailing winds. Would be OK if you had a boat and liked to go ocean fishing.
 
Russell Island would be a steal if they ever put the planned bridge road through.

Hindmarsh is connected to the mainland, not an isolated island any more. Thinking about it, I think the primary reason it is so well priced is the type of residences there. It isnt a place people choose to buy to live in or move to as renters. There is therefore no ordinary residential market, only people wanting holiday homes.
 
Russell Island would be a steal if they ever put the planned bridge road through.

Hindmarsh is connected to the mainland, not an isolated island any more. Thinking about it, I think the primary reason it is so well priced is the type of residences there. It isnt a place people choose to buy to live in or move to as renters. There is therefore no ordinary residential market, only people wanting holiday homes.

Couldn't find any listings for Russell Island using www.realestate.com.au
 
Hindmarsh Island may have water views and what appears to be cheap water front property, but it doesn't have the swimming or surfing beaches like other towns near by, and it's the farthest away from facilities in the region.

The place also stalled mid development around 2008 giving the place an unestablished (and uninviting) look.

Then there's the obvious water issues.

Like a lot of other retirement/holiday regions the place has not recovered from the pre 2008 slow down.

The market there will probably perform well one day, however in the mean time I imagine the yields would remain poor, and CG no better than property a few streets back in some of the other towns near by.
 
I was wondering the same when I went to Adelaide, so I made the trip out there to have a look. As already noted, they went through a dry spell,but I thought it was great value too. My wife noted however that it wasn't well developed, with no trees anywhere, it appeared quite barren. Perhaps over time they will work on this.
It will never be a lush paradise in part due to the climate in SA and our regular water restrictions but I think that the barren look is largely due to the developer's restriction on types of plants to be used. Palms are banned!!! What is an island without a palm tree? boring!! Maybe the development would have taken off if they had relaxed their conditions in this area. (It's not pretty being green)
 
yes land price includes all services and there are no restrictions other than the developers ridiculous specifications to make sure individuality is crushed.
 
And even then, we would wonder why we bothered.
I agree with you Rob! Why do the penal colonies attack us so? How very rude! Pretentiousness begins at Bordertown and ends just before Stanthorpe. IMO Real people reside west and North of the diagonal line between these points.
 
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