SA Adelaide Property News 2016

Does anyone have any comment on this property - 2 Chesson Street Woodville Gardens SA 5012 - House for Sale #124225106 - realestate.com.au

Currently have an offer in on another property but we're considering this one too. Personally I'm not keen as I had a walk through yesterday and I think they've seriously overcapitalised for that area (and I HATE swimming pools!).

 

Also (while we are at it) a friend of mine is considering buying this place in Kilburn as a PPOR for a while before renting it out: 54 Garland Ave Kilburn SA 5084 - House for Sale #124048102 - realestate.com.au

Had a look at it last week and I have to say the location next to a factory and across the road from an immigration detention centre is a bit foreboding - although having said that I'm sure it has been growth potential than (say) Salisbury or Elizabeth.

 

Not sure if there is an official definition but I typically read 'courtyard home' as a home with a feature outdoor area containing pavers/deck/cement flooring with verandah big enough for a table setting, often with garden surrounds. It will be a smaller block, often only small grassed areas or none at all. Probably more desirable to some, downsizers, couples without kids, etc.

Spotted that one also. Almost anything in Kilburn in that price range is very quickly under contract which makes me think there are a lot of people wary of it's position relative to factory/immigration centre (although reportedly only low risk immigrants kept there, no fences, etc). Sold for $190k in 2012, so probably had some growth already over the last few years (though looks like there may have been some light renovations, carport added, etc). I'd wonder if you might have trouble renting it out considering the immigration centre across the road and demographics of the area (though undoubtedly that will improve over time)...

 

thats a great price range! although what about spending a few extra dollars to purchase something that will deliver abit better in terms of growth p.a.?

 

Probably good not to link properties you/you're friends are interested in buying - less competition for you the better.

I remember a few years ago there was a case where someone did exactly that on the old version of the forum and someone gazzumped them!

 

I inspected that Kilburn one opposite the detention centre and adjacent to industrial. buying there is pretty much buying the worst house in the worst street in the suburb. I think it is under contract anyway.

I too am keeping tabs on Kilburn. all stock is nearly identical. if the phrase 'cookie cutter estate' existed in the 1950s when this stuff was built, I'd say this suburb would fit this enormously.

This means to make one of these old duplexes stand out if you buy one... you need a point kf difference. most were built as 2-bed but have already had the 3-bed conversion done. so that avenue isnt really possible. Others have added jet spas, childrens 'retreats' / utility rooms (separate structure in the back yard) or just nice renos with modern down-lights/trimmings, to try and stand out.

The third option is probably over-renovating considering the lower socio-economic tenants might not value these things (or indeed respect them).

Southern end of the suburb is much more prized.

 

It really wasn't something I would want to keep to myself anyway...

I really don't like the look of a neighbouring household that enjoys looking at the street enough to drag a couch onto the front porch and eye off everyone who goes past while downing a few - especially at lunchtime (as it was then). In a cul de sac they only have to see your car go past and they know that you're not home if you get my drift. Good luck to whoever bought it...

 

It's going to auction. I'd be surprised if it sells for anything <375k although the pool might put off a lot of buyers- I'm like you I don't like pools.

As for Kilburn I'd stick to freestanding houses. Semis are always going to achieve less capital growth especially in an industrial part of Kilburn that is still a 10km journey to the CBD. As for the worst street in Kilburn I'd say it's Goodman Avenue, but you can take your pick really on the most northern streets between Churchill and Prospect Road.

 

We went to the auction today cashed up and pre-approved only to be blown out of the water - $413,000 in the end - so much for the low-to-mid $300's estimate. I was actually relieved when it went over the $400k mark because we had agreed beforehand that it really wasn't exactly what we were looking for and that our highest figure was slightly under that (in the end we did end up going right to our limit of four hundred). And as much as I like Arndale I also found the area itself a bit of a turn-off - not to worry, plenty more out there.

 

Yeah that place massively underquoted, I inspected it a few weeks ago. My assessment was 400-415k

 

Just started looking for the next IP, targeted in Adelaide. I have seen many recommendations around Salisbury LGA and specially Ingle Farm, etc. Out of curiosity (and may be a total noob), why not suburbs such as Modbury, which is closer to the larger shopping centre and the hospital? Is it because it's further away from the CBD? or is it because it falls into another LGA which is less development friendly? Many thanks!

 

Nothing wrong with Modbury. Ingle farm was a tough cheaper which is why people keep reccomending it.

 

Modbury is fine, just a little more expensive than equivalent stock elsewhere. Has better shopping center etc. Just depends on what your time frame is I guess.

 

ive seen those stickers before, but only in Adelaide

 

Haters will keep on hatin but there is no denying there is a lot of investment happening in Playford. With a comparatively low cost base and infrastructure and other developments pending hopefully we look forward to some CG in the years ahead

http://www.news.com.au/national/sou...s/news-story/2a777d1f4db321efbe19e95298d5c5f4

 

Well, my parents have sold their Ringwood IP and have now had offers accepted on one place in Elizabeth North and another in Davoren Park.

Putting the obvious risks aside and looking at location: Ringwood vs Davoren Park, I find it amusing. These suburbs are vastly different in terms of price, quality of housing stock and socio economics.

Something interesting though is they are serious about 2 properties in Davoren Park. Both are selling for less than the previous purchase price. 1st was bought by a FIFO during the mining boom as a negatively geared investment. He is now having to sell up at a loss, which is not good to hear. 2nd seller was the victim of a property spruiker in Queensland who apparently hyped Davoren Park. This seller piled in with a lot of other investors, overpaid for the property and is now facing a loss. We hear this type of story too often. Not good.

 

Davoren park is outside my comfort zone. I personally wouldnt buy there in a million years.

 

I wouldn't underplay the risks but there are risk mitigation measures to put in place:-
1. a great PM
2. building insurance
3. landlord insurance

These don't come cheap and it looks like expenses will run around 25% of rent on some of these purchases.

Also, cross your fingers that something major doesn't go wrong:- i.e. hot water system, roof etc

Personally, I see it as a risky move but I can see why they are doing it. They have already matched the rental return of the Ringwood property at 1/3 of the cost. With limited funds and limited options I can see why they are attracted to these properties.

 

Indeed - there is a lot of interest from public and private entities to grow the quality of this area, whether the local stigma likes it or not.

The council is headed by a Liberal member who is aggressively trying to reshape the area as somewhere to do business and succeed, instead of going in circles complaining about social issues and handouts.

 

but i guess in the long run, things will get better, just like i bought blacktown 15 yrs ago in Sydney, everyone was saying it's filled by drunk and addict, but now, it's developing.