SA Adelaide Property News 2018

SA does have a lot going for it, highest unemployment rate, highest electricity prices and lagging population growth. It has a nice battery though and the third most expensive building in the world the Royal Adelaide hospital.

SA will be the same as last year, steady.

 

Wrong

Irrelevant to property

Just going to regurgitate stuff you heard at a Sydney pub?

 

5 hotspots boosted by infrastructure projects

5 hotspots boosted by infrastructure projects - Smart Property Investment

1. Adelaide, SA
Expansions worth $1 billion to Adelaide airport, $1 billion worth of redevelopment to Adelaide Riverbank, the $2.4 billion spent for the new Royal Adelaide Hospital, and a submarine construction worth $39 billion all spell out success for property, which Ms Porter said would outweigh any negative associated with the manufacturing downturn.

From the airport expansion, Ms Porter said passengers and job numbers are expected to more than double, while the Riverbank will upgrade the health and wellbeing, core entertainment and cultural and education precincts, and the submarine contracts are set to create approximately 8,500 new jobs.

“In years gone by, Adelaide has had annual growth rates typically sitting in the low 2-3 per cent range, but with this boost to infrastructure and subsequent job creation starting to filter through, LGAs like West Torrens, the home to suburbs like Plympton just to the south west of the airport and the CBD have seen an average annual growth rate of 8.49 per cent to July 2017 (according to Corelogic),” Ms Porter said.

 

My apologies, i think the second or third highest after WA and Queensland. I also believe electricity prices will have an impact, if Private business close or move interstate due to high operating costs so do the people. One of the main drivers of property prices is population growth and SA has always had very slow growing or negligent population growth, they have always had a problems with people leaving the state.

The state also relies to much on Government funded projects, looks great for an election and helps prop up unemployment figures but doesn't really provide long term sustainable economic or population growth which is needed to drive housing prices. I really hope SA does well as i think it's the state with the most potential, has just as many minerals as WA and the minerals they have are more sought after i.e Uranium. The state also has petroleum. While the workforce is small it is highly skilled, i also believe SA can be an agricultural power house if they started using Israeli agricultural practices as SA doesn't suffer from the Cyclones and other natural disasters as much as the other states, the place has loads of potential that just needs to be tapped.

Also as i said earlier, i don't think SA will go gangbusters but it's not going to go backwards either, it will be a steady as she goes with some suburbs giving a burst of energy here and there

 

Wanted: A developer who wants to live somewhere “really fancy”

Wanted: a developer in search of a fancy home

 

Can anyone recommend any buyer’s agents for the Elizabeth area?

 

What draws you to that area, budget constraints?

Nearby suburbs like Craigmore or Salisbury North don't cost much more and will give you a lot less tenant hassles.

 

Hi DT,

Budget constraints is a factor. When I said Elizabeth, I didnt mean specifically that suburb. I've been looking all around that area including Salisbury.

But same question....if i found a IP in Salisbury, do you have any buyer's that you can recommend? Are you one?

 

I'm not a buyers agent, I'm a property manager
@DaveM has many happy clients on this forum who have bought in those areas.

 

Well, I'll need a property manager once I buy it right? :>

I'll wait for DaveM to reply.

 

If you have found a property already, what sort of service would you need? Eg someone to inspect, or negotiate/attend auction?

 

@DaveM what areas are giving good yields with reasonable chance of CG for under 450K? Im originally from Adelaide and left 9 years ago. Always liked areas along the Torrens like Flinders Park to the beach. Guessing they are all over the 500k mark now?

 

They're out of that price range now unfortunately (shock horror - Adelaide actually goes up sometimes )

 

@James McIntyre and @DaveM come highly regarded.

As @D.T. said Salisbury and Craigmore are a step up in quality without hurting the wallet.

 

If you're chasing a good yield and OK CG potential - I think you would be better off looking in the 300's price range than into the 400's. Adelaide has a bit of a quirky factor with the rental return rapidly diminishing once you go into the 4's+, so you definitely end up in the negative territory on cash flow. I'd either go cheap and look at the Salisbury council area, or up Modbury and surrounds if you wanted to aim for a balance on yield and growth.

 

Thanks for replying Dave.

I'm an interstate investor from Sydney. So I'll need pretty much all the services that are associated with purchasing a property. So yes...everything you mentioned is a service I will need.

 

Yes, I'm after a balance. I know 300k-400k is where it's at, but I went through divorce and let the ex take everything so that I could spend time with my child.

So $200k is all the bank wants to give me lol

But I will look into Salisbury and Modbury

 

You won't get Modbury for $200k unless it's a 2bedroom unit, which I would suggest stay clear.

 

I have some savings and can go to $250k

 

You'd be able to get into Salisbury for that range - something entry level or an OKish rentable house in Salisbury North without hitting 250k.