SA Adelaide Western Suburbs - City to Sea

The more these are, the higher it will push up land values, hence house price. Locals should be encouraging these kind of developments as it injects wealth into the local. That's how the eastern states did it. When owners made equity, they are willing to spend locally, hence encouraging more jobs and spendings. Red taping all these will only make the place stuck in the current backwater hole.

 

This general rule is right. But he didn't pay too much money, I would say he paid very decent money for that house, even a bit off market price at that time. Underdale has very slow growth, compared to other suburbs. 5 years ago as per I remember, the average house price for 3 bedroom was 530K, now

I don't think they will need new blinds, if the new apartments can't be sold, lol

 

Hi everyone

I'm based in Melb and looking to purchase an inv property in Adelaide. Thinking of getting a unit at Mile End, Richmond etc (inner west) areas 70s syle units - 6,8 or 12 in a block as opposed to new apartments/off the plan apartments.

Any thoughts?

 

They have poor rental demand to be honest.

 

Thanks DT - any suggestions where there's good capital growth and rental yield within the 300k price range?

 

If you want a standalone house, you're probably looking at either Salisbury or Morphett Vale. Or get a 2br unit near the beach if you're into units.

Otherwise Corey and I wrote up a series of suburb reviews lined here: adelaide suburb review | PropertyChat which you may want to take a look through.

 

Definitely not old units around the west - poor CG and pretty average rental demand to the point you'd be better off looking outer north before going down that path.

Agree with DT - a freestanding house in one of the Salisbury's or down Christies/Morphett Vale will give you steady rent and CG potential as the owner occupier ratios continue to skew towards home ownership.