SA Adelaide Property News 2018

Great input @kamchatsky ! My thoughts exactly.

 

So I’m about to walk into an inspection, see a guy walking opposite way on footpath so politely said hi how are ya. He says ‘good man, just getting my forage on’

Then he walks onto the vacant block next door, pulls a couple of random bits of vegetation up. Puts one in the backpack and starts munching on the other

 

Hope this wasn't in Paralowie!!!!!!

 

In @Brady neck of the woods actually, in Highbury

 

Hi DT, always enjoyed reading your very informative posts. I have not purchased in Adelaide but interested in doing so this year. My approach in other markets has been to buy cheaply in areas within about 15 km from the CBD, and hold for a long period until areas become more popular and start being bought by those priced out of the more fashionable areas. For most of my buys, people have said ‘Oh, you didn’t buy there did you’. Have largely purchased in the western suburbs of Melbourne in the last couple of years (no further than 12km from CBD). So, in short, looking for low price, high yield with some prospect of capital growth in the very long term. Was thinking of Elizabeth as fitting that category, but interested in your views. Will buy up to around $250-$300k (or cheaper if I can find the right area).

 

I should also mention that I only buy houses (no units) with reasonable land size with prospect of development in the very long term.

 

There was one place I was interested to buy for a while but they took too long to get it developed and we bought somewhere else last year. They now do opening and appointments.

Excellent location, close to city, close to parklands, best schools in the state, close to Burnside Village.

I would have looked at prices for their townhomes and have appointment with them if we did not already buy somewhere else.

Home - Glenside

Sure you can buy older houses with larger land component, but the stocks are always low, competition is fierce (because of the school) and holding cost would be higher.

 

Thanks for the kind words. I dont think you're on the right track with Eliz - for your budget you could get into Salisbury, Paralowie or Craigmore on decent size blocks with less feral tenants and better odds of upside.

 

Went to a home open this morning, 2-3 houses down from our PPOR, it was quite busy. They're asking about double what we paid (mid 9s vs mid 5s) but has an extension - gives me some faith that our planned extension will be worthwhile.

 

Thanks again D.T. Appreciate the steer. Regarding Salisbury, do you include within that S Noth and S East. Looking for a reasonably sized block of land, bread and butter property that will rent well. Also, budget allowing, would you ordinarily focus and houses with 4 or 5 bedrooms to maximise rent. Understand these are ‘it depends’ type questions, but value your top of mind view.

 

Hi Harry, i own an ip in S. East and its my preference of all the Salisbury"s. The area is sandwiched between S. Hts/Gulfview Hts which have a considerable gap up in median price. It has easy acces to public transport along main nth rd, and is within a short drive to three major shopping centre's. (Parabanks, Elizabeth CC and Golden grove). With another shopping centre just started construction on the cnr of main nth/Saints rd. It also has Bunnings/specialty stores at neighbouring Parafield Airport with the soon to be developed Harbour Town.

It has two large schools Tyndale private and S. East high public located adjacent to each other. The suburb has the large Cobbler creek recreation park bordering the eastern side of the suburb, which has walking trails and has recently had a playground and mountain bike trails installed.

I have had my ip in the area for 11 yrs and have never had a day of vacancy and barring one short term tennant the quality has been exceptional.

 

Yea, Salisbury East is nicer than Salisbury North for all the reasons Jason said above.

Salisbury North has better rental yield (through lower pricing) so depends on what you're after.

4 bedroom homes in the area are actually kind rare - so they rent at a premium when they on offer. There's sometimes some opportunity to convert 3 bedroom ones to 4, but i wouldnt count on it for the bread and butter type strategy you've described.

 

Not sure if anyone can confirm numbers but Thomas Foods International is doing multi million dollar upgrade of their Lobethal facility due to the fire at Murray Bridge. Thus Hundreds of staff will need to relocate to Lobethal, Woodside, Nairne for housing. They also got large Govt grant to assist with upgrade.

 

Parafield Airport expansion gets approval:

http://messenger.smedia.com.au/northern-weekly/

A MASTER plan for Parafield Airport, aiming to bring up to 200,000 extra flights per year and 750 jobs but increasing noise to “unacceptable” levels for some surrounding residents, has been approved.
A Federal Transport Department spokesman told the Northern Weekly last week the master plan was ticked off on January 19 by then minister Barnaby Joyce.
The finalised plan has not yet been released publicly – the airport had 50 business days from the approval date to publish it, the spokesman said.
A Parafield Airport spokesman said the plan would be published “within the next two to three weeks”.

The airport’s governing body wants to increase the number of flights to 450,000 – a 110 per cent increase on the 214,000 flights in 2016.
This would help improve the airport’s position as the state’s best aviation and pilot training centre and continue its development as a significant economic driver for northern Adelaide, the master plan reads.
An enterprise precinct – housing a range of commercial, industrial and aviation industries – would also be built.

Also at Parafield:

Hold-up at the Junction

http://messenger.smedia.com.au/northern-weekly/

APPROVAL of a $150 million shopping centre in Adelaide’s north is on hold because of air safety concerns regarding nearby Parafield Airport.
Salisbury Council’s assessment panel last week deferred making a decision on the 30,000sq m Kings Junction complex until developer Michael Vidale and his company, GIC Australia, secured support from the Civil Aviation Safety Authority (CASA).

The panel said additional checks were needed to remove any doubt about potential incidents, citing a crash at a shopping centre near Essendon Airport in Victoria in February last year.
A pilot and four American men died when their light aircraft was in the air for only nine seconds before ploughing into the shopping precinct. A report on the cause of the Essendon crash is set to be handed down in May.


But Mr Vidale told the Northern Weekly he would continue to work towards commencing construction on Kings Junction by mid-2018.

“GIC will work diligently to prepare the necessary reports for (the) council, with the original development and construction timelines for the project still applicable,” Mr Vidale said.
The panel heard three anchor tenants had been secured for the complex.

 

On the job on Sunday morning after a car crashed into one of our managed properties overnight. If you have properties in Adelaide make sure you get them insured!

 

That car was flying! Literally.

Check out @7NewsAdelaide’s Tweet: 7 News Adelaide on Twitter

 

Yep, there was no tyre marks on the lawn at all. Seems either flying or no attempt to stop.

9 News Adelaide

 

35A Seaview Rd, Yatala Vale — a record breaking sale

"The Yatala Vale price was also noteworthy, given the home’s location — Yatala Vale is about 25km from the CBD in the Tea Tree Gully Council area."

"There have also been eight Yatala Vale houses that have cracked the $1 million mark, including 6 Pegasus Court which sold for $1.06 million in September last year."

 

Hi All,

I am looking for an IP in Adelaide within $450-500k price range. My criteria is something with decent land size (min 600m2) to buy, value add and hold (7-10y min) with good yeild and potential CG. I have never been to Adelaide so have no idea about what are the good and bad areas. Could you please give me some suburb names to start my search? Thanks alot.