SA Adelaide (south) heating up

Noarlunga region

I posted this a while ago...

Adelaide market starting to heat up with low interest rates, good returns and interstate investors.

Just sold one of my properties in Christie Downs. Had 5 offers after the first open, 3 locals, one investor from Sydney and one from Melbourne.

Got just over $300k for it. The Melbourne investor was the highest bidder, but by only a couple of grand. I ended up choosing to sell it to a local family.

................

Just spoke to my agent again tonight, she was seeing if I want to sell anymore of my properties. She just sold one tonight.

Similar area - 52 couples through and 13 offers !!

 

Yes it is heating up including Hallett Cove, Seaford, Christie’s Beach and Moana.

 

Happy days.... fanastic

 

is it Adelaide wide? And are prices moving up?

 

Rising tide!

I'm getting ready for Elizabeth's moment in the sun!

 

It's Adelaide: almost always moving up, v e r y s l o w l y... but UP.

 

Yes, just had settlement on a property in Happy valley and prior to this I had put written offers in on 8 different properties but kept getting pipped. It certainly is very active and affordable. Almost bought two at Christies beach but had terrible building inspection reports.

 

The southern beach suburbs have immense competition atm. Lifestyle ppor buys.

Maslin Beach is the one to watch imho.

 

Just be careful you don't get caught watching at Maslin's

 

I just bought in Huntfield Heights (signed in July settled in August). With 3 offers and one other investor. Only had one open. And since then it has hotting up, most property's in the southern suburb's are going under contract after one open. Ive been helping a friend find a property in Morphett Vale with a very tight budget and some property's are getting huge number of offers, the highest she said was 22 offers, and alot of people going to opens too.
DSR Data is showing it is hotting up also.

 

Which, for an Adelaide native, is a wee bit mind-bending. You couldn't pay me to live there in days gone by. Seem to recall a time when there was a news item every other night of some bogan crime in Huntfield Heights or Davoren Park.

But that's progress for you.

 

Media is saying adelaide is moving up quite significantly.... is it wrong? I am used to Adelaide slow and steady, but media is saying its boom time!!

 

Adelaide's outer south has been stagnant for years so growth was inevitable. The median price for Old Reynella is up 13.5% over the past 12 months.
OLD REYNELLA SA, AU SUBURB PROFILE - FREE REPORT

 

Many suburbs down south are barely 10-20% higher nominally than they were 10 years ago (e.g. Old Reynella linked above recorded a +1.38% average over 10 years, which would be mostly the gain over the last 12 months ), while many inner suburbs have outperformed.

I wouldn't be surprised to see some outsized gains over the years ahead as they catch up. Two to three years of double digit growth or a shorter, larger boom would be no real shock and if the anecdotes I am hearing are widespread, this repricing may have already begun.

There are still a number of suburbs where you can get a house on land with a ~6%+ yield, with fixed mortgage rates in the low 2s... that won't last IMO.

 

thanks for the posts guys..i bought a few 5 or so years ago down that way so good to know whats goin on. they pay for themselves no worries but capital was probably better elsewhere..tho i guess it has performed as predicted really

 

Try Moana. Up 19.08% !!!
MOANA SA, AU SUBURB PROFILE - FREE REPORT

 

What is it with Christies Beach? Spruikers are always pushing it, let:
CHRISTIES BEACH SA, AU SUBURB PROFILE - FREE REPORT

12 Months, down 2.44%
3 Years, down 0.35%

Moana's a much nicer beach.

 

Sounds great to me! As somebody looking to upgrade within the next five years I'm hoping that the divergence between inner and outer southern suburbs decreases.

 

I think what they like about Christie’s Beach is that on the whole it’s an older area than Moana and therefore there are opportunities at Christie’s to add value, subdivide etc, whereas Moana, although has an older area, has a lot of house and land packages where you are paying developers price, which is too much.