SA Adelaide Property News 2017

{Note: thread continued from here: SA - Adelaide Property News 2016}

 

Daily Indices | CoreLogic RP Data

Surprised by the YOY figures with Adelaide currently at 5% growth. Inner and middle (<12km) no doubt!

 

Doesn't surprise me at all - seeing it daily with client revals/purchases.

The inner/middle is going from strength to strength - even the areas North/South - ie Playford/Onka have well and truly solidified their support levels and we're seeing the price creep come in. I don't think we'll see a rapid jump in the areas just yet, but it's certainly been the end of the yo-yo pricing of working class areas.

Likewise the upper end of the hills is doing well - we had our PPOR revalued at christmas time, this came up 13.5% from the valuation 12 months earlier.

 

What about area up north, Elizabeth?

 

Oooh yeah, north and south for the win

 

Ive definitely noticed rises in southern suburbs. What was around the 260-270 price bracket 12 to 18 months ago is now hovering around 300 - 310.

 

Which areas south, if you don't mind my asking.

Thanks!

 

Ive been watching MV. There's the odd cheap property, but majority are sitting around 300k or above.

 

Yeah there's not many places in Morphett Vale that are sub 300k. They are either renovator delights or houses in the 'scumbag' section bordering Christie Downs and Hackham West around Beach/Elizabeth Road. If you're purchasing in that section you may as well be purchasing in Christie Downs anyway since at least you're slightly closer to the beach, transport, and shopping precinct.

 

I have bought 2 in morphett vale in the last 12 monthsish. 1 in the scumbag part with development potential and one cashcow bordering woodcroft. Very happy with the way prices are tracking!

 

Glad you guys on the ground can confirm Adelaide is a rising market

 

I might retire to Tasmania.

 

Stirrer

 

Just to stir the pot a bit more with some northern suburb stats, since I bought my first IP at Ingle Farm just over 6 months ago I have been keeping an eye on prices

I bought at just over 310, my criteria for comparison is >18m frontage and >600m^2 (ie suitable for development) but excluding fully renovated PPOR homes as these are now selling for over 350k and aren't fair comparisons. Results from last 6 months are:

Below 300: 3 (bargains can be had at auctions in SA)
300-310: 5
310-320: 2
320-330: 12
330-340: 3
340-350: 2

Might not be much of a movement, but 10-15k on a 300k purchase is still 3.3-5% after 6 months. Also I know it doesn't mean much sometimes but median has also moved to 324.3

 

Good analysis Callum , stats never lie

 

Hopefully rents are on the up aswell

 

I prefer my mate told me so ..

 

They are. Pretty good demand in the area, been renting 3 bed houses fairly quickly. Had one 4 recently that flew off the shelf.

Managed ones in that suburb renting anywhere from 285pw to 380pw depending on size, features, etc.

 

Adelaide property investor casual meetup - details in the link. Feel free to come along!

SA - Adelaide Meetup - All welcome

 

Q4 Adelaide metro data.

Metro median house sales - Metropolitan Median House Sales Q4 2016 - data.sa.gov.au