SA Adelaide Southern Areas

Have a read.

sa.gov.au - Onkaparinga Council

 

The time has come,a little earlier than i thought, but we have made the decision to exit from tenant based real estate.I bought this place 4 years ago for $245K,why are we selling?Mainly the biggest hurdle at present is the APRA changes which have not/will not help investors grow their portfolios.My aim here is to release a considerable amount of money, to develop other property we have in Mount Barker & Christies Beach,selling new builds only,also with the SA commercial stamp duty concessions,this area also looks inviting.This week it goes live.

 

Here we go................5 Tenterton Road Christie Downs SA 5164 - House for Sale #126298278 - realestate.com.au

 

Good luck Jim

 

Looks good. Agent needs a better camera though

 

Agents get professional photos done rather than using their iPhone

 

I thought it was just my eyes.......(:. I think whats happened is these have been harvested from when i bought the house,ill look into it, maybe the tenant was having a bad day..............

 

Are you really anticipating 315k

 

May be top of the tree but why not.My view is property that side of Flaxmill Road is worth more,the turn n churn agents selling mid 200,s are not in my view doing the vendor any favours.Heres my logic,when i bought this,i was told $$270 per week tops,i wanted $300,i stood my ground with the agent who said i was wasting my time.I could have rented it to several tenants for that at the time,so i dont have much/any time for CMA,the whole house has been reno,d,if i dont get my money, it can sit there.At $325 PW its good yield.

 

Not going to give too much away this soon,but things are certainly very "Positive".

 

Unfortunately its the sorta suburb that has some discounted / desperate sales, and these always play on the figures. I think its done fairly well otherwise but there's a noticeable difference between good and bad quality properties there.

Have picked up 2 rental managements there recently - one got a $250k well maintained double living area home that rents for 310pw and has needed very little maintenance. Another bought in the $270k range, rents for 280pw on a main road and has needed lots of work. Luckily, both were leased to elderly people who will probably be there "forever" and are very easy going.

 

As i pointed out above,CMA goes out the window i think, also its interesting to see the same sale agents/franchises doing the turn,n,churn.Have to achieve the set KPI,s no doubt.

 

Well,at low threes on the table....keep pushing.Also this pic of Bains Rd 1964 is interesting.

 

Hows real estate going jim?

 

Very busy at the moment.The South Coast is booming...................................

 

How are you finding places like Reynella 5161?

SQM have asking prices down 9.9% for the year:
SQM Research - Weekly Asking Property Prices

 

South Coast and Southern suburbs are 2 different demographics.I should have said Fleurieu Peninsula

 

Do you have any specific postcodes?

What is your definition of booming? Is that greater than 0 growth, but under inflation (1.9%). This seems to be the media's definition at the moment. The Advertiser was calling 0% growth a boom, when of course those investors are not keeping up with inflation!

Seaford and Moana seem to be down 3.9%
SQM Research - Weekly Asking Property Prices

Christies Beach is just 0.2% (1.7% below inflation)
SQM Research - Weekly Asking Property Prices