SA Adelaide Property News 2017

Definitely agree with this, most are expensive though.

 

Interesting to read in Pete's blog today that Adelaide's vacancy rate has dropped to 1.4%

Pete Wargent Daily Blog: Louis MMXVIII runs with the bulls

 

anyone know why is it dropping?

 

Hi

Be interested in views on northern suburbs. I own a dha 4/2/2 at burton . Nice property on 600sm block fetching $405 per week.

Heard a podcast from terry Ryder who is very keen on Adelaide in 2018 particularly with the big infrastructure spending and defence contracts.

From my own personal holdings - can we see suburbs like burton picking up in this wave ? Was considering off loading but might hold it for a few more years now .

Thanks

 

Its a hold for me, Burton is nicely placed with the upcoming northern irrigation scheme. (This is going to have a bigger impact than people realise).

 

I can't see Burton shooting the lights out given the vacant land nearby.
But reckon it will tick over nicely whilst the cost of construction and land increase.
At $405p/w rent holding wouldn't be too hard.
I wouldn't personally buy in Burton for investment today, unless there was screaming value - but would be looking to offload if already hold.
Just my 2c.

 

Just a quick plug for Pete Wargent and his blog - excellent market commentary:
Pete Wargent Daily Blog

I think some good signs are there for SA:
-Unemployment is down, bringing us on par with Taz & Qld, and better than WA.
-Investor loan volume isn't dropping, it's been stable for quite some time.
-Vacancy rate has trended down since the start of 2017.
-Net population increase of 10k for the year.
-Total number of dwellings in SA flat since March 2017.

I'm feeling upbeat about Adelaide property market seeing some more steady growth for 2018.

I Hope everyone has a merry Christmas and a safe new year.

 

Lowest percentage growth of any state

 

"Northern Territory (+400 or +0.1 per cent)"

(population growth figure quote from Pete Wargent's blog)

 

ooh, well you could say NT is a territory not a state...maybe

ta for the plug btw!

Adelaide seems to have been losing population to Melbourne for quite a while, but if you look closely at the June figures that might just be starting to slow up now (and of course June was ages ago).

Unemployment rate has definitely improved, & as you said, vacancy rate trend looks pretty nice for Adelaide. More steady price growth in 2018 you'd think?

 

Burton's a bit nicer than adjacent suburbs Paralowie and Salisbury North. It has a higher buy-in so not as good value I think, but better tenant quality so horses for courses.

 

After 3 decades of blight on Adelaide.

Adelaide City Council to buy vacant Le Cornu site

 

And the irony is that all the proposed redevelopments never got off the ground due to how difficult council and local NIMBY's were

 

They sometimes do come up though, like this

1 Holroyd Court Morphett Vale SA 5162 - House for Sale #127077158 - realestate.com.au

SA Housing Trust, a bit trashed,sub dividable on a corner block.but look at the price.It was open last Saturday, today its gone unconditional.A good lesson for our investor counterparts, if its a good deal, act quickly.

 

Looks alright, what do you reckon it went for? I assume people would be offering overs?

 

Its advertised at $225K, my experiences with SA Housing Trust is maybe a 5K discount MAX,i think someone would have payed asking price,if not over, its unusual for the SA Housing Trust to do a deal this quick though,the Form1 usually takes ages to get, it was standing room only at the open.

 

were you hoping to get a chair?

 

The real winners of CoreLogic’s ‘Best of the Best’ 2017 revealed - realestate.com.au

Mr Troughton said the north continued to be a winner for many reasons.

“There has been some fantastic new developments and enthusiasm out north, it’s definitely the most affordable and those rental yields make it very attractive for investors,” Mr Troughton said.

“The infrastructure is second-to-none and there seems to be a bit more excitement around the Holden plant at the moment with the vote of confidence by the Victorian company.”

CoreLogic head of Australian research Cameron Kusher said the Best of the Best results painted a positive picture of South Australia.

 

Hi @Brady -which area would you consider and why?

I am doing my homework for Adelaide so every C count and your's are 2c