SA Adelaide Southern Areas

+1 pity that its a AH. I don't qualify

 

Thanks Erica. Is the area around Elizabeth road is the 'bad' part of MV? The ID social atlas map shows a concentration of public housing in this area and a lower household income compared to other parts of MV.

 

Reynella has southgate plaza, with coles, target, post office, butcher, etc etc and of course the ever famous junk food junction.


As for the development side of things, onkaparinga coucil are very pro development /infill these days. They are trying to stop the sprawl into the primary production areas around aldinga and so on, i have seen some "interesting" developments going on

 

Trust me I been trying!

I was trying to convince her to buy this.
http://www.portplus.com/storage/388..._&_38_Worthington_Road_ELIZABETH_EAST_SA_5112

Live there for 6 months and than self manage the properties for $230 a week each but she's like 'yuck I'm not living in Elizabeth'.

The irony is that we both used to live together in Otara in South Auckland, which makes Elizabeth look like Paradise

 

Isn't that the suburb where Once We Were Warriors was filmed ?
But seriously I would jump at an opportunity like that if I qualified provided I didn't have kids. Like you said live there for a while , renovate then move somewhere nicer and collect the rent from the 9%yield. Not sure if that much rent is likely but either way it would comfortably be positively geared. There seems to be lots for great opportunities like this for FHB in Adelaide.
I wouldn't be keen on self managing something like that though, looks like hard work.

 

Yeah Once Were Warriors was filmed in parts of Otara.

We don't have any kids and aren't planning on having kids for a while so that's not an issue. The only thing is we have my girlfriend's cousin live with us at the moment. If we buy a place we said she can live with us and pay rent to us. The problem is she isn't keen on living at Elizabeth either, which is understandable from her point of view.

As for $230 a week maybe that's setting the bar a bit high but I'm certain I would be getting at least $210 a week each especially if I did a cosmetic reno. Last year before I purchased at Salisbury I was looking at the Elizabeth region and keeping an eye on the market. There was a semi that got bought in Elizabeth North for 145k on Donnington Road, which is a long street full of Housing Trust semis. A couple months later it was being advertised for rent at $235 a week and got snapped up. I wouldn't buy a 1 sided semi though.

But yeah I'll let you guys know once we finally buy a PPOR. I just wish one of those AH homes came up in an inner South suburb like Edwardstown or Ascot Park

 

Quick question re: those AH houses... they all list an eligibility period expiration date. Once that date passes do we all become eligible to buy straight away or do they have to take the property off the market briefly to change something before we buy? I haven't bought in SA before so haven't come across this before.

And are any properties listed as AH houses not ex-housing commission or equivalent? In other words can/would a regular private vendor need/want to sell their house under this AH agreement (perhaps for some kind of gov incentive to the vendor)?

Cheers,
Dave

 

Once the eligibility period ends, anyone can offer on it immediately. Sometimes they insist on one more open once the program has ended. The one I bought became a 'first and final' offer once the program ended as there was multiple offers.

As far as I am aware the AH program is all government stock. I can't imagine any reason an individual would want to sell via a program that restricts the number of buyers?

 

Cool, thanks Waldo for clarifying.

 

Went to several home opens down Morphett Vale way on the weekend.
Was interesting to see a couple of open homes with dozens of cars lined up the street and some with no one else inspecting. I'd rather buy he latter

 

Was it price related?

 

Sub 300k stock?

 

No not really, one was renovated and one wasn't. The renovated one was busy and he unrenovated one had no one. I'd prefer the latter myself - it was also bigger block.
Also went to a well undermarket one that needed **** tons of work, that one had stacks of people.

Of course

 

A few doors down from mine.Just over a week on market,Sold too cheap IMHO,and i told the principle this as well.


http://www.realestate.com.au/property-house-sa-christie+downs-120392281

 

the vendor forgot the one rule in southern adelaide property selling....susan rule

 

the what?

 

just being silly :/ susan rule is one of the agents down that way...on all her sold adds she puts 'Remember there's only 1 RULE in real estate and that's call Susan!' or variations of

 

Heres a question for the developers out there.
I have a property in MV that I eventually want to demolish and build two houses on. The block has a 20m frontage and is 738sqm.
Which project builders offer the best value for money propositions? Or does anyone have a builder they use who does a good and inexpensive job?
David

 

Hello,

It does seem that the tree in the backyard seems to be a willow myrtle with quite a thick trunk. Would this have any impact on development potential?

 

I didn't buy for development in Tenterton Ave, this one was a capital gain play, and its working beautifully.