SA Adelaide Property News 2018

I know it's a small area, but i feel like Pooraka is moving well. Had a previous tenant move out in March, new tenant moved in monday for $40/week more than previously. 3x2 on about 640sqm.

A lot more houses being sold, sub division still going crazy, and prices now in the $400k or high $300k compared to low to medium $300k 2 years ago.

 

Yeah a few are doing well. Where we live, we've had 2 homes in our street sell in the 900's in the past month or 2, whereas we only paid 550 2 yrs ago.

Apparently Adelaide never goes up though, so make of that what you will

 

Mmm agree....

This property 26 Altola Road, Modbury, SA 5092 - Property Details

is similar to my brothers property which he bought in 2016 - brothers would be slightly better.

 

good cheapish blocks with o.k rentable houses do come up. I bought old house on a large block there a few months back and (of course talking my own book here!) v happy with it. rented very quickly to a decent tenant. I am out of state and familiar with higher prices in Syd and Melb.....but it does seem very reasonably priced indeed for a beachside suburb near a major city. Long term hold and development prospects I reckon are good. Worked out the price of our place had increased just 1% p/a for the last 10 years. I hope past performance is no guide to future..... I love both Christie's beach and Port Noarlunga - think they are awesome suburbs and the beaches are just damn gorgeous. Even a bit of surf there if you're lucky.

 

Great thinking.

They are really nice beaches, probably among the top of Adelaide metro area. Not very often its surfable though - swimming out to the reef (or cheating and going via the jetty) is quite nice though.

 

I live > 1 hour away from Port Noarlunga and will drive down there to make a day of it.
It's awesome down there.

 

Best investment suburbs in Adelaide for 2018 - Smart Property Investment

According to NAB, Adelaide will see one of the most solid house price growth in the coming months, together with Melbourne, Hobart and Brisbane.

 

Great article to read on the eve of settlement on my first IP

 

Mount Barker is on the lists radar.I dont think so, too much supply, not enough demand.

 

The serial arsonist operating in the Elizabeth/Salisbury area seems to have struck again with another vacant house getting burnt to the ground in Parafield Gardens in suspicious circumstances earlier today. There's been a consistent theme here with empty properties or places under renovation being targeted and whoever it is has been operating in the area for over two years now.

Also a call for a $50,000 reward for information regarding rock throwing on the Southern Expressway as locals get angry at the police minister and new state government for not doing enough (CCTV to be installed later this year). There's been several incidents over the last few weeks with a woman lucky not to have been killed by a rock thrown at her vehicle earlier this week - it smashed through her windscreen into the (empty) passenger's seat.

People calling Christie's Beach "gentrified" are making that call too soon - Christies' has always had a lot of poverty and unemployment; recently a large youth service on Beach Road had its funding pulled after 12 years (Reengage Youth Services) so it's obvious the problems down there will be set to get worse.

 

Can I ask the property pundits here - what exactly is wrong with Pennington and Rosewater? I've been researching a next property purchase on behalf of a business partner and I've noticed that Rosewater in particular has units around the $200 k mark or less - it really seems to me in this day and age that even Centrelink recipients could qualify for a mortgage that low. Henry Street Rosewater in particular, there's always several in that block for sale. Any local agents prepared to tell me why units/flats around that area are so 'affordable'?

 

There's nothing wrong with Pennington and Rosewater it's just those unit styles in general are affordable throughout Adelaide.
Edwardstown, SA 5039 Sold Apartment & Unit Prices & Auction Results - realestate.com.au

Most first home buyers aren't interested in that sort of product. It doesn't appeal to downsizers and for investors it has decent yield but limited capital growth potential.

 

Thanks 2FAST, but those units you posted in Edwardstown are well above the equivalent units in Rosewater and Pennington - you're stuck firmly in the sub-200 range for many of those.

I just have a feeling that they're not very rent-able because of the social problems around that area - hence the very cheap prices. Even dolts from the East Coast aren't buying them up... there must be a reason.

 

I don’t think it’s the location I believe it’s the low capital growth prospects of those types of units. The money in real estate is made with capital growth. Cash flow is important but who cares about making $50 a week profit on a product that has low growth potential. The demographic of people living/renting those units would most likely be low income families and welfare recipients.

Henry St, Rosewater SA 5013 - Street Report

Property in Henry Street has been stagnant for 10 years. Even looking at the properties sold in 2003 they have had a poor capital growth performance in comparison to the wider real estate market.

 

Property research site names SA’s affordable suburbs tipped to grow - realestate.com.au

Adelaide's Northeastern suburbs are likely to experience strong capital growth in the future according to this article.

 

Yep, have seen some good activity there too lately.

Lomas has also picked it , for what its worth.

 

As pasted from latest northern messenger:

Billions of reasons

Major projects giving northern business leaders plenty of scope for optimism

BUSINESS confidence is on the rise in Adelaide’s north with more than $2.4 billion worth of major projects in the pipeline following a host of recent announcements.

An $80 million Drakes distribution centre at Edinburgh North, a $31 million redevelopment of Treasury Wine Estates at Penfield and a $23.8 million Kaufland supermarket at Munno Para headline the latest projects.

Add to that other major projects already further advanced – including the $885 million Northern Connector road, more than $900 million worth of works at Edinburgh RAAF base and a $150 million shopping centre in Salisbury South – and the future of the northern economy is looking brighter in the wake of the closure of Holden last year.

Business SA’s executive director Anthony Penney said the huge investment figure showed business confidence was on the up.

“(It sends) the message that the region is growing and working towards a brighter and more positive future,” Mr Penney said.

“It says the region is open for business and leads to greater positive outcomes.

“Developments stimulate jobs growth, and it’s not just people working on construction sites. There’s always a flow-on effect (for) surrounding developments, which includes anything from people buying their lunch at a local deli … or visiting shopping centres.”

Plans for multiple projects worth more than $10 million have been submitted to Playford Council in the past year – some of which have already been approved.

The Treasury Wine Estates project includes building a temperature controlled distribution and wine maturation complex, an administration centre and a new carpark.

Another project, for energy company Fluid Solar Thermal, valued at $10.5 million, includes installing solar panels on the roof of an Elizabeth Vale shopping centre.

At Playford Council, a $400 million plan to transform Elizabeth’s CBD includes a $7.3 million six-storey carpark, a $40 million Playford Arena ice arena, a $50 million seven-storey hotel complex and a $12 million medical hub.

Mayor Glenn Docherty said last week it was “only onward and upward” for the community. “(This all) shows fantastic confidence in our area that business and investors are willing to spend (big) in development,” Mr Docherty said.

He said a strong workforce, a growing population and good infrastructure were key reasons why investors were flocking north.

The Salisbury region’s biggest developments – some of which are funded by the Federal Government – are worth more than $1.9 billion.

The Northern Connector – which joins the Northern Expressway with the South Rd Superway – is expected to pump about $11 million into local industry and is on track to be completed next year.

The RAAF Edinburgh base is getting a $659 million upgrade to support the air force’s new hi-tech anti-submarine and surveillance aircraft, the P-8A Poseidon, which will be finished early next year. Edinburgh will also become a mission control station for Australia’s new long-range drone fleet following a $250 million upgrade. And the development of a $150m shopping centre – proposed for the corner of Main North Rd and Kings Rd in Salisbury South – is expected to still go ahead despite being held up at Salisbury’s development panel because of air safety concerns regarding nearby Parafield Airport. Salisbury Mayor Gillian Aldridge said the figures proved confidence in the north was unwavering. “Salisbury is a flourishing city and it is great to have such strong investment,” Ms Aldridge said. “The depth of expertise and skill that is available in the City of Salisbury continues to make it an attractive place to invest.”

OUR BIG PROJECTS

› Northern Connector – $985 million › Edinburgh RAAF Base upgrade for Poseidons – $659m › Edinburgh RAAF upgrade for Tritons – $250m › Kings Road Shopping Centre – $150m › Drakes distribution centre

– $80m › DeLorean Bioenergy Plant

– $66.7m › Veroguard Cybersecurity – $57.5m › seven-storey hotel – $50m › Mawson Lakes student apartments & retail – $45m › Salisbury Community Hub

– $43.8m › Saab UniSA Defence Institute – $40m › Playford Arena ice rink – $40m › Treasury Wine Estates redevelopment – $31m › Kaufland supermarket at Munno Para – $23.8m

 

Elizabeth's CBD development won't make a fig of difference to the core problems in that area - it's exactly the same as the Victorian government spending close to a billion dollars redeveloping the centre of Dandenong. It made no difference to the chronic unemployment and crime endemic in the area and it didn't make large corporate offices want to move there (as they were hoping).

None of these projects address the issue of the highest concentration of urban unemployment in the nation.

 

I drove through Elizabeth and Davoren Park last week and was really impressed at what the Playford Council has been doing to the area. Davoren Park is a ghetto but to the council's credit they are resurfacing Peachey road and also doing some landscaping to improve the look of the area. The new Eyre Sports Park looks amazing and all the train stations along the Gawler line have been upgraded.

As for unemployment the new Liberal State Government has announced 20,000 new apprenticeships will be created over the next four years at a cost of $200 million. The Liberals have also halved the ESL levy and are cutting payroll tax. In addition, they are focusing on population growth. I think people are underestimating the impact that 16 years of Labor has had across the state!

 

That I agree ..... Really hope the Liberals will improve the SA's economy.