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Adl inner ring block vs Melbourne outer ring

Discussion in 'Where to Buy' started by ATANG, 1st Oct, 2015.

  1. ATANG

    ATANG Well-Known Member

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    i am sort of wondering if I should sell one of my Adelaide inner eastern suburb blocks (900sqm) to buy a house in the outer ring suburb like Reservoir, Craigburn, sunshine, Albion, etc. What do you guys think? Which one will grow faster in your opinion?
     
  2. D.T.

    D.T. Adelaide Property Manager Business Member

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    Which suburb is the 900 sqm in? Is it vacant or a house? How long have you had it?
     
  3. ATANG

    ATANG Well-Known Member

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    Klemzig, since 2009. A four bedder built in 60s.
     
  4. Coota9

    Coota9 Well-Known Member Premium Member

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  5. UrbanDingo

    UrbanDingo Member

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    coota wt abt albion and sunshine........I don't think you can class them as outer suburbs either...........
     
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  6. D.T.

    D.T. Adelaide Property Manager Business Member

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    I'd be holding onto that; it'll serve you well long term.
     
  7. ATANG

    ATANG Well-Known Member

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    U think so?... So far I only seen 20% gain in like 6 years. Had a friend bought a house in Preston the same year for $400k+ and now sold for $700k.... Somehow feeling like ADL is at its peak really....and will continue with this slower than inflation kinda growth for incoming decades..
     
    Last edited: 7th Oct, 2015
  8. MTR

    MTR Well-Known Member Premium Member

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    Problem is all these areas have already had significant growth, its like jumping in at peak, not a great idea. Preston has gone nuts, lucky friend. Syd, well give that one a big miss as well.

    Can you add value to your Adelaide property/development?? build at rear? etc

    I would consider looking at threads by @See Change and @sash they seem to have the finger on the pulse and get the timing right, they are both currently buying in QLD.

    MTR:)
     
    Last edited: 8th Oct, 2015
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  9. juzzy

    juzzy Well-Known Member

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    As others have said, you've missed the boat with places like Preston and even Resi. Sunshine and Albion not so much. Forget Craigieburn, the amount of land out there is ridiculous and vacancy rates will be high.

    I don't know anything about Adelaide, but I don't understand why you would want to give up 900sqm that close to the CBD! I think long term you are better off with what you've got rather than trying to get in to the middle ring of Melbourne's western suburbs.

    Unless you plan on retiring in the next couple of years and need a quick bump in equity, I'd leave it.
     
  10. Baker

    Baker Well-Known Member

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    I'll buy it.
     
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  11. The Y-man

    The Y-man Moderator Staff Member

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    @ATANG

    As others have said, outer ring suburbs for me would be Werribee, Caroline Springs, Sunbury, Craigieburn (you got that one), Wollert, Mernda, Hurstbridge, Eltham North/Research, Warrandyte, Wonga Park, Lilydale, everything IN the Dandenong ranges, Gembrook, Pakenham, Cranbourne (South), Langwarren, and the Peninsula.

    The Y-man
     
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