SA Adelaide thread continued from Somersoft

Stock on Market levels via SQM..

 

Haven't started a thread for my Highbury development on PC yet, will once construction finished next year. But interestingly neighbour has put their house on the market, it will be interesting to see what it sells for. http://www.realestate.com.au/property-house-sa-highbury-120223477 great looking house. Beautiful finish

 

Wow, interesting to see how luxury market perform in that area.

 

Sold by our very own @eKwatee ?

 

Same

thats right, he sold 15 Lindsay which was the same owner. Best of luck with the sale @eKwatee higher the price the better my valuation

 

I'll do my best . Even though the photos are good, they don't do this once justice. So much better in the flesh.

 

Wow $750k price range. My friend's place in Rostrevor is so much nicer than that and on bigger land. Valued at $700k recently by bank. I guess RE agent will put $1 million?

 

The locati

Whats the street like for your friends? This place is in a pretty special spot. Every single person who has gone to this street has made a comment of the location. Will be interesting.

@eKwatee was able to achieve $590k for the place next door, smaller block, smaller build, not as high end finish in a weaker market. Anything starting with a 7 and I'm happy

Might pop past and say hello at the open @eKwatee

 

Anyone here considering adding this to their portfolio. lol.

The (soon to be old) Royal Adelaide Hospital.

The property forms part of the 380 hectare Riverbank Precinct that extends along the River Torrens and Torrens Lake to the largest bio-medical precinct in the Southern Hemisphere.

Currently developed and occupied as the Royal Adelaide Hospital and a number of ancillary commercial uses, the impending relocation of the existing Hospital unlocks a vast array of options for the site.

 

http://www.realestate.com.au/property-house-sa-sefton+park-120414577

If this goes anywhere near the advertised price, a ripper deal. 5%+ yield, reno potential to significantly increase rent + value, 5km from the CBD. For those in the know, south of Regency Rd is seen as significantly more desirable than anything north, so quite a good deal for an area where houses in good condition are selling in the 5-600's.

 

Must be a small land, house seems tiring also with lots of cracks. I think it will prob go for mid to high $400.

 

Rear was subdivided off previously - but the remaining block is still 562sqm so not out of norm for blocks in the area. Will be an interesting one to watch.

 

Adelaide agents are following Melbourne agents where they advertise a low price guide to gather attentions and interest ...

 

There's some good buys around atm. Pasadena and St Marys currently have a few houses being sold for low 400s with sub-division potential. There's markets within markets atm e.g Pasadena/St Marys has been flat but Park Holme and Morphettville have taken off over the past couple of years.

 

When you said taken off, what percentage increase are you referring to?

I used to live at Hendrie Street at Morphettville/Park Holme a long time ago. Everytime I go back there, I noticed a lot of housing trust houses get knocked down and subdivided to smallish new houses. I always think there is potential there as it is quite close to city (10 mins drive on weekends). However I don't know the rental market there so I don't know if there are much demands in those areas.

 

Well spotted... there's opportunity galore in Adelaide , just need to know where to look. This bypasses a lot of the macro economic stuff being thrown around imho

 

Park Holme has risen around 10% in the last year and around 20% since 2012. http://www.yourinvestmentpropertymag.com.au/top-suburbs/sa-5043-park-holme.aspx
Morphettville hasn't experienced quite the same % of growth but still has a higher median price than Park Holme, which is logical since it's closer to the CBD. Yields aren't that good compared to other locations in Adelaide but the South West definitely has great future capital growth prospects. It's a revitalised area and always has low vacancy rates.

 

Exactly. Adelaide is a no brainer to me. For 450k you can get yourself a house in a suburb within 10km of the CBD on a big block. Alternatively you could buy a couple of cheapies down north. Compare that to Sydney where you'll be lucky to pick up a 1 bedroom unit for that price especially given the current cycle.

 

I think the jump in median at Park Holme is due to all those new houses completed and sold in the last few years. Ie median price is based on mostly new stock sales rather than old houses. But hey with more and more new stocks the suburb would get gentified overtime as more aspirational people are moving in. Shame that the school zoning is not the best as otherwise I would seriously consider it.

 

Ultimately it is dependent on jobs as a person with jobs would be willing to live in 1 bedder in Sydney, but won't be living in 3 bedroom house if there are no jobs. That's why Sydney is so expensive because everybody wants to move there.

Of course people can try to do daily commute between Adelaide to Sydney for work (like that guy commuting between Barcelona and London) but I think it is just too hard for most people.

I don't have confidence in the current SA Labor Government as they are way too comfortable for last decade. A change of government is needed IMO to kickstart the economy again ....