SA Adelaide Property News 2018

I am still optimistic it will return hansomely, its a corner block, and with decent tenants now after 3 years of cr@p tenants,my new managers at LJ Hooker Christies Beach are awesome.Disclaimer......i work with LJ Hooker

 

Thanks

 

Thank you for giving me further information

 

An addition is the opening of the Australian Space Agency which is "The combination of our defence and space sectors positions us as an international leader in advanced manufacturing, helping attract investment from around the world" . This will create jobs.

The airport expansion is also underway.

 

A property "expert" once told me, Christies Beach doubles every 7 years!!

 

5 top property market picks for 2019

"Port Adelaide, Adelaide, South Australia
Median house price = $350,000

Just 8km from the city centre, Port Adelaide is picked to experience growth due to the current port rejuvenation and billions of dollars in defence projects soon to begin.

“Recent developments include the $40 million State Government building on Nile St, redevelopment of the waterfront precinct to provide homes, as well as plans for a maritime themed attraction with historic ships,” Mr Walsh said.

“Port Adelaide is on the cusp of change and smart investors are getting in now to make the most of the uplift.”

 

This has been said for the past 10 years and has failed to materialize, on paper it seems like an area that should attract tourism, and perhaps one day turn into the next Glenelg, but sheesh this change has been slow. Be cautious with apartments/units or townhouses in Port Adelaide, as I believe the area has a oversupply (ie. the New Port development) and because of this has had no capital growth for a long time, and for long term speculation, then aim for a decent size landholding and be prepared to wait wait wait...

Here are a few resales to show what I mean (examples of NIL profit after holding for 8- 10 years);
2/32-35 Ship Street, Port Adelaide, sa - Property Sold Price
29 Dale Street, Port Adelaide, sa - Property Sold Price
5 Formby Crescent, Port Adelaide, sa - Property Sold Price

 

Heard that 10 years ago with Newport Quays.
Newport Quays - Stage 1 & 2, SA – Multiplex



Hopefully the uplift (if it eventuates) helps many to recover their steep loses over the past 8 to 10 years!

 

I have a great guy Enfield area who replaced a window for me last year very reasonable cost but there's no way he'd work in Elizabeth North.

 

Too much supply, no real reason to actually WANT to live in an apartment out there either. And there's still a lot of endemic poverty around there that puts people off - sorry but that's the truth. I shop there every now and again and there's heaps of unfortunate people who congregate in and around the car-park at the back of the main street, it certainly doesn't feel like somewhere I'd want to pay top dollar to live in... also the council needs to do something about the pigeon problem, they're everywhere and they stink.

Having said that the Drakes Foodland supermarket and Chemist Warehouse there are excellent and I don't mind having a look at the Salvos and Cash Converters in case there's something interesting. It's always been a bit 'struggle street' down there but at least the shops are pretty good.

 

New housing data reveals Australia’s most in-demand areas

Australia’s most in-demand areas revealed

"Ms Conisbee said Parra Hills West in South Australia was an interesting example as it proved Adelaide was experiencing a surge in both the higher and lower ends of the market.

“What seems to be happening is it seems to be the really affordable suburbs as well as the very expensive ones that are doing well — there is divergent behaviour,” she said.

“That could be because there has been jobs growth in Adelaide not just in highly paid, white-collar jobs but also in trades-type jobs such as manufacturing, which is supporting suburbs at the lower end.”

Brooklyn Park, Rosewater, Vale Park, Dernancourt and Camden Park were among South Australia’s biggest movers."

 

Biggest movers up or down? I assume these are the areas where they need uneducated buyers to pile in and "put a floor" under prices?

Darnancourt according to SQM is down 9.4% for homes and 1.6% for units. (In the past quarter, Darnancourt units have fallen 21.3%).

Rosewater home prices is down 0.5%, and units are down 0.9% in the past 12 months.

Brooklyn Park home prices are down 3.5% for the year and 3.3% for the quarter.

 

Even Para Hills (one 'r' in Para) homes are down 1.2% in the last quarter and units are down 7.4%.

 

They also got Dernancourt spelt wrong.

If you are investing in Adelaide then none of these places are where you would put your money, you need blue chip eastern or inner south locations.

 

Frankston was never as bad as christies beach. Nice little double in value though...
FRANKSTON, VIC

 

Why is closing a land tax loophole so controversial?

 

what's the loophole around the proposed land tax changes?

might crash the market

 

This week South Australia overtook WA, QLD and even Tasmania to become the state with the highest unemployment rate @ 6.9%; 8,000 jobs have been lost in SA in the last few months.

Steve Marshall hasn't delivered a thing for South Australia - even his push to deregulate shopping hours has fallen flat. We've been going backwards at a rate of knots and we need urgent action from the state government, particularly on jobs.

They could start with power - we have the highest electricity charges in the world in South Australia at an average of 44 cents per kw/h, who in their right mind would want to set up a business here with the world's most expensive electricity? The Marshall government needs to pull its finger out and do something to reduce the cost of electricity particularly to industry.

 

Link for 8000 jobs lost?

Privatising trains should be scrapped.

 

20 jobs to go as iconic Aussie manufacturer Hills closes its last South Australian manufacturing plant - Jobs go as Hills closes last SA manufacturing plant - InDaily

The Adelaide-based former Hills Hoist clothesline manufacturer told investors this morning that it would close its O’Sullivan Beach antenna factory by December 30.

It also revealed a $1.4 million redundancies bill from the 2019 financial year, which includes the cost of terminating the O’Sullivan Beach facility staff.

More unemployed pile onto South Australia's nation-beating unemployment queue.