SA Adelaide Southern Areas

Discussion in 'Where to Buy' started by jim1964, 18th Jun, 2015.

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  1. Erica

    Erica Well-Known Member

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    I have a natural distrust of agents, so I always take their word with a pinch of salt.

    So, I asked for his honest view of what price would be sure to shift the property quickly, and his appraisal figure was exactly the figure I already had in mind (without telling him what I thought it was worth first!), so I still found it a useful exercise to confirm that my DD is stacking up, (since I don't have the time to get to open inspections in the area.)

    Spoke to my mortgage broker a couple months ago about doing a reval and equity pull- last val done 12 mths ago, but he said not worth it at the moment. He is based in Brighton & draws lots of loans for clients buying South, his clients actively buying in the area now also confirm a slight pick up in prices but the valuations aren't yet reflecting this, his advice was to hold off for another 6 mths.
     
  2. D.T.

    D.T. Specialist Property Manager Business Member

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    Erica - are you renting them for figures similar to those i posted earlier in the thread?
     
  3. R377

    R377 Well-Known Member

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  4. Erica

    Erica Well-Known Member

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    I'm renting them out for slightly more as I pay for water and I'm allowing dogs.
     
  5. Erica

    Erica Well-Known Member

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    So I'm back from holidays, didn't catch a Barra but hubby has relaxed, and I've managed to convince him to hold the Morphett Vale property another year, yay for me
     
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  6. D.T.

    D.T. Specialist Property Manager Business Member

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    Yay good work :)
     
  7. jim1964

    jim1964 1941

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    The Power of being the wife :)
     
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  8. Erica

    Erica Well-Known Member

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  9. thewisestfool

    thewisestfool Member

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    Hi.
    Looking to buy in MV/Hackham. Am I late to the party?

    Does anyone have any update on medium density housing areas in MV?

    Thanks
     
  10. Erica

    Erica Well-Known Member

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    Not too late, prices haven't moved a lot in MV- 5 % over 4 yrs is pittance (median values have only just gone slightly above what they were when I bought into the area in 2011).

    I have noticed that Renewal SA is selling off a large swathe of X-housing trust properties in MV at the moment (some on the Affordable homes programme, some just up for grabs by all), this is good for buyers as there is a flood of cheap stock on the market right now.

    Links to some below just for interest (Disclaimer: I'm not recommending/ I have no affiliation)

    http://www.realestate.com.au/property-house-sa-morphett+vale-120308913
    http://www.realestate.com.au/property-house-sa-morphett+vale-120308917
    http://www.realestate.com.au/property-house-sa-morphett+vale-120307057
    http://www.realestate.com.au/property-house-sa-morphett+vale-120279061
    http://www.realestate.com.au/property-house-sa-morphett+vale-120201953
    http://www.realestate.com.au/property-house-sa-reynella-120344533
     
  11. HUGH72

    HUGH72 Well-Known Member

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    Although it might slow prices when some of this stuff is sold off, long term it would have to be beneficial with a few more OO purchasing IMO.
     
  12. Erica

    Erica Well-Known Member

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    Absloutley agree, in the long run it will get the ferals out and OO's will upgrage the suburb
     
  13. 2FAST4U

    2FAST4U Well-Known Member

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    I'm surprised this one isn't under contract yet.
    http://www.realestate.com.au/property-house-sa-morphett+vale-120307057
    It's got a lot of potential!

    I try and convince my girlfriend to buy a house off the Affordable Homes Program since she is still eligible but she's got the typical "I want to live in a modern house" attitude so opportunities go begging.
     
  14. Erica

    Erica Well-Known Member

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    I agree, a good size land holding on that one.
     
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  15. hotmail

    hotmail Well-Known Member

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    Which ones out of the those would be the best to buy?
     
  16. Joshwaaaa

    Joshwaaaa Well-Known Member

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    Yup, one popped up for sale on my street in reynella, under the affordable homes scheme. I was so happy to see it i had to go wake the misses to show her. The people that were in it were the kind that would have middle of the day screaming drunken arguements in the middle of the street. This is in an otherwise very quiet street
     
  17. 2FAST4U

    2FAST4U Well-Known Member

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    Personally I'd pick links 3 and 5 the properties on Karingal Way (19 & 23). Reynella is a better suburb than Morphett Vale but that Reynella house needs some work while the other 2 you can move in straight away. The other difference is the land size is 800sqm on both the houses I picked while the other ones are smaller.

    Under the AH program it has conditions though so only people who have never bought a house and who earn under a certain threshold and intend to live there for at least 6 months are eligible.
     
  18. hotmail

    hotmail Well-Known Member

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    Hmm, the Karingal Way properties do look the best in terms of land size, flatness, and also pricing, although kitchen seems to be slightly older than some of the other ones. Do you think there is an advantage of purchasing an 800sqm block vs a 600sqm block in the area in terms of development considering that none of those houses are corner blocks and the minimum lot size for detached houses is 300sqm? I'm struggling to see with the 250sqm developments (I've forgotten what the product type is called) you could fit 3 dwellings even on to an 800sqm block with a sub 27m frontage. Would you have to be using the depth of the property as frontage in such a case?

    Edit: Also with 19 Karingal Way, there seem to be some trees on council property facing the frontage of the house. I'm wondering if this would lead to complications with developing in the future in terms of finding space for two driveways sufficiently far enough away from those trees, or apply for DA to have them remove?

    Edit2: Also in relation to Reynella vs Morphett Vale section closer to Noarlunga Downs areas/the Morphett Vale shopping strip, do you think being close to the shopping centres would be more beneficial in the longer term with a lot of housing commission stock being sold off in areas closer to the shopping centres?
     
  19. D.T.

    D.T. Specialist Property Manager Business Member

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    Buy all of them, they prob cost 2 Sydney properties for the lot.
     
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  20. HUGH72

    HUGH72 Well-Known Member

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    I would be encouraging her its a opportunity to get into the market and make some quick equity with a basic reno