SA Adelaide Property News 2018

Discussion in 'Where to Buy' started by D.T., 8th Jan, 2018.

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  1. D.T.

    D.T. Specialist Property Manager Business Member

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    Basically this, but remembering there's different pockets of each with good and bad in them
     
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  2. ollidrac nosaj

    ollidrac nosaj Well-Known Member

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    Adelaide’s northeastern suburbs are running red hot

    Adelaide house prices grew by 18.4 per cent over the past five years to $450,000.

    Manningham prices, meanwhile, increased 49.5 per cent over the past five years to $627,750, while Vale Park house prices rose 23.8 per cent to $679,750.

    Sefton Park, meanwhile increased by 57.4 per cent, Broadview by 31.1 per cent, Klemzig by 25.5 per cent, Greenacres by 24.8 per cent and Hampstead Gardens by 13.9 per cent


    Adelaide’s northeast running hot
     
  3. Ryoka

    Ryoka Well-Known Member

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    Good info. Thx!

    What about buck for buck potential value?

    Is it also Modbury > Ingle Farm > Salisbury?
     
  4. D.T.

    D.T. Specialist Property Manager Business Member

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    No one has a crystal ball as to what the areas will do. Different areas will always be better or worse for each individual as well as we all have different goals and timeframes.
     
  5. Ryoka

    Ryoka Well-Known Member

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    Sorry if that sounded a bit obnoxious. I wasnt after definitive answers....more of a general feel/concensus.

    In Sydney, the general feel is that Parramatta > Merrylands...so i was wondering if that was the case between mod/IF/salis.
     
  6. D.T.

    D.T. Specialist Property Manager Business Member

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    I don't really know Parramatta and Merrylands to be able to compare.

    I feel like Ingle Farm is a bit better just because its closer in to the city.

    Salisbury probably has more long term potential just because its starting from a lower base and the stigma might go away in the future. There's also better yield on offer for investors here.

    Modbury has better transport and shopping centre - also the north east corridor is generally a bit more modern and nicer feel about it.
     
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  7. Ryoka

    Ryoka Well-Known Member

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    Thanks! This info is invaluable!
     
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  8. Ryoka

    Ryoka Well-Known Member

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    Ever since I made my enquiries only a few days ago, I bookmarked about 7 properties in Ingle Farm and they literally all went under contract in the last 3 days.

    I'm getting trolled hard.
     
  9. D.T.

    D.T. Specialist Property Manager Business Member

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    Cant be, Adelaides just a little country town that never goes up :p:eek:
     
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  10. Brady

    Brady Well-Known Member

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    Would all be determined on the purchase price.

    But I would say same ranking as above for growth pending fair value paid because of the below

    Plus a major hospital
     
  11. private_number

    private_number Well-Known Member

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    Wassup Adelaide !

    So, I visited Adelaide for the first time yesterday.

    Now I must admit, I had not stepped foot in Adelaide prior to today. But walking around the CBD I did notice a ton of new construction and development. Certain aspects of Adelaide was reminiscent of Melbourne (the architecture and trams). One thing I did also notice was a large amount of vacant commercial property. Maybe I'm use to seeing the hustle and bustle of Sydney and Melbourne life. However, I found there to be a large areas of open space with..very little people in it. It seemed such an empty site and I even started thinking, 'what a waste of space. I wonder how many people would actually utilise that space?'

    After these negative thoughts flooded my brain, I decided to talk to a couple handfuls of locals (all different walks of life. Basically anybody who was willing to chat off the street) to see their opinion. Upon lengthy discussions;

    ALL seem to have lost faith in Adelaide and actually think the government is great in doing these upgrades but it is 'too much' due to a lack of people actually living in Adelaide.
    ALL had a common worry about job prospect (or lack there of) due to a large number of big companies closing down (some even had plans to even move interstate with their kids so their kids could get jobs when they became older)
    The MAJORITY had lost the 'appeal' to live in Adelaide.

    With the amount of construction and upgrades going on in Adelaide, will the population catch up to utilise said upgrades and developments? I don't see many driving factors that would help grow population that would subsequently help drive house prices up long term (or at least in a speed to which I would decide I'd invest).

    Adelaide is stable. Just stable. What is the main industry here? Medical? Nothing more and nothing less. With the same amount of money, I could invest in other regions of Melbourne where Id have greater capital growth over the same period of time.

    I want to love Adelaide and invest in Adelaide as my girlfriend will be there for the next 3 years, but I can't seem to be convinced. This has been a start of many trips in Adelaide in the near future. I will definitely be bringing my car across or hiring a car and spending much more time in this humble city next time around. For the record, I have found Adelaide to be a VERY friendly city. Everyone I approached was happy to chat to me no matter their background, age or even assumed socioeconomic status.

    I know this post is very negative, but I am all ears and want to be proven wrong/convinced to buy in Adelaide to invest in.
     
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  12. Ryoka

    Ryoka Well-Known Member

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    I dont think it's negative. You're relaying feedback. If that's what the locals think, then that's what the locals think.

    I just have to be realistic with myself....It's impossible for me to afford house and land in the eastern side of Australia. I just cant. So I can either sit down and watch the world rotate around me, or I can look to invest elsewhere and keep moving forward at the pace that I can.

    But hey, if you can afford to keep buying in Syd or Melb, do it man! :>
     
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  13. D.T.

    D.T. Specialist Property Manager Business Member

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    Article in the paper today about adelaide leading the way in innovation and business
    , worth a read.
     
  14. private_number

    private_number Well-Known Member

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    That's fair enough. Never buy outside your means and always have a buffer/back up plan if things do go south **touchwood**


    Is there a link online? I just did a quick google search, 'Adelaide leading the way in innovation and business' and nothing came up of a recent date.
     
  15. sash

    sash Well-Known Member

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    First of all thanks for the very honest post..it also seems balanced.

    Unlike some of the spruikers...you have nailed Radelaide...for the moment....even Tassie seems to have surpased good ole SA...hope that changes soon....

     
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  16. private_number

    private_number Well-Known Member

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    On the ground research is the best way to gauge your potential target audience!

    Only time will tell!
     
  17. Corey Batt

    Corey Batt Well-Known Member

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    That's one way of looking at it. You do have to factor in selection bias - if someone is busy, upbeat and kicking goals do you think they want to talk to a random on the street? ;) Also the fact that people will say what they think the other person wants to hear, than their true views.

    Compare this to the number of business confidence indexs/reports covering Adelaide/SA - it's currently leading the country. South Australia business confidence booms - TBW News Group
     
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  18. Brady

    Brady Well-Known Member

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    That was exactly my thought @Corey Batt
    It's far from what I'm seeing first hand, but guessing I'm one of the bias.

    Some friends I have spoken with this week
    - Car detailer has just taken on extra staff as flat out
    - Carpenter has just taken on an apprentice this to help with workload
    - Cladder (Hebel) is looking for an extra crew as they are so busy and pick up a few big jobs

    In saying that also spoke with another friend who is currently out of work, he's gone for 2 jobs where he's missed out after getting down to the last two.
    He's got a final interview for another role today. He works in sales/rep.

    This is without mentioning clients.
     
  19. private_number

    private_number Well-Known Member

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    Of course. Selection bias does need to be considered. To answer your question, I personally would say yes. But yes, everybody is different hence why I talked to a number of different people that are of various ages (youngest was early 20s, eldest was a bloke in his mid 60s). Now, people will want to say what they think the other person wants to hear, but in no way did i mention i did NOT want to move/invest in Adelaide. In fact, I commenced the conversation with the impression that i DID want to move/invest in Adelaide and the response I got was the opposite to what I wanted to hear.

    Also, thank you for the link! That's exactly what I want to read and continue to look into.

    I mentioned Adelaide is stable. But for my investment strategy and risk profile, I'd invest my money elsewhere. However, I do want to be proven that Adelaide is a great city to invest in as I mentioned, my girlfriend will be working in Adelaide for the next 3 years - why not make some money whilst we are there?

    I do look forward to more trips to Adelaide so I can be persuaded to invest here.
     
    Last edited: 21st Feb, 2018
  20. Tattler

    Tattler Well-Known Member

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    People leaving Adelaide to Eastern states for work is not new. It has been happening for many decades. I am a classic example of this.

    Generally people in Adelaide is less upbeat than Sydney and Melbourne in their cities. There are a large group of people who is against development. Most of them just don't want Adelaide to be like Sydney or Melbourne, as usually development brings more people which brings more traffic etc. They just want Adelaide to be Adelaide.

    I think the major issue is the lack of change of the State Goverment in SA. It has been Labor for like the last 17 years. It doesn't help the situation in terms of improving the economy, and there are too many dead woods. The Liberals just couldn't do a trick there for whatever reason.

    Sydney is currently the economic engine of Australia, generate tons of jobs, and a lot of people made money on their properties. But a lot of people hate Sydney because of horrenous traffic, over development of apartments, crowdedness etc, and also cannot afford a house to buy. They prefer smaller cities like Brisbane or Adelaide or Perth etc.

    So to answer the question, will Adelaide IPs rises, I would say yes but personally I would like to see the government changed first, or a charismatic leader rises somewhere .....

    But if I am going to buy I would buy quality location first, if your budget allows it ....
     
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