SA Adelaide: Golden Grove or Moana / Christies

First post for me, so hello to all the regulars. I've been visiting the site for the last couple of months and have absorbed lots of great advice so far from the other posts. Thought it was time for me to post my own question

Took my first trip down to Adelaide from Sydney this weekend to check out a few suburbs for an investment property. Was looking mainly in the Golden Grove pocket, but also had a quick look in Glenelg. Still doing my research, but a few properties in Moana and Christies Beach have just appeared on my radar too.

I'm hoping to get some guidance as I was only able to spend a weekend there and concentrated mainly on the North East.

I'm looking for something low maintenance that will attract good tenants and provide a decent yield, which led me to the North East suburbs. Golden Grove looks a safe bet - decent yield, and a little bit of capital growth, but I'm unsure if there are other areas, such as the beaches, that I should also be looking at more closely?

Budget is $300k-$400k and for that I'm hoping to earn about a 5% yield. Seems possible in GG, and vacancy rates seem very low - sub 1% in some areas.

Just wondering if there are other areas that I should check out for higher growth potential and similar yields. Ideally cash flow positive / neutral.

I've read a lot of the SA posts on the forum from the last couple of years, and was just hoping to get some more up to date guidance.

Thanks in advance!

 

Golden Grove would be my pick out of those mentioned. The north east corridor is performing best at the moment.

Christies Beach is gentrifying and might be a better long term option (depending on what your crystal ball says).

Moana too far away IMHO.

Vacancy rates all over Adelaide are terrific at the moment - recently listed a low end (280 per week 3 bed house) and a middle range (440 per week 3 bed house) and rented both on first open.

 

Head down south and its not even close. Little to no subdivision in GG and the blocks are not that big. At first Golden grove was a new posh suburb but now its not seen like that.

Keep away from seaford rise and meadows but anywhere from osullivan beach down to moana is always good buying. I think 3 of those suburbs were in the top 5 or 6 last adelaide boom !

 

Thanks for the replies - appreciate it!

I’ll have a closer look at the beach areas to the south.

 

Ditto, also neighboring Wynn Vale is in high demand atm:

Wynn Vale Property Market, House Prices, Suburb Profile & Investment Data