Some advice from all you Adelaide experts out there. I'm looking at buying a free standing house in Athelstone in the 400 to 480k range. Is this my best option for this price range or are there better places to invest in Adelaide for my budget. I'm looking at this investment from both a capital growth and also the prospect of moving there to teach tennis.
Hi Jim, combination of price point, stock availability and physical environment. Do you think I can do better going closer to the city, I'm flexible.
Kind of reminds me of Dural NSW, but need to know whether other suburbs are better or not. Similar price points I have found at Seacliff Park, Hallet Cove and Seaview Downs and then there is Newton as well. Wikipedia is quite positive on Athelstone. Is it bush fire risk or safe?
Its a nice foothills location, and a decent price below its eastern suburb brethren. Just be very careful to check policy areas carefully if you plan to subdivide. And be aware that Payneham Rd is a massive carpark in the mornings if you need to get anywhere. Has had a few years of steady growth driven by people priced out of closer in suburbs.
Thx DaveM for this information. The area seems to have favourable demographics and income levels. Would be interested in comparing to comparable western suburbs that are priced similarly at present.
I don't mind the area, it's not a huge name recognition suburb but still presents as a quality area where people are happy to buy if priced out of alternatives. For that price range you will be able to get into areas closer to the CBD along North East Road, but the desirability of those areas right now isn't at the same level of Athelstone. The only thing I dislike about the area is the terrible phone/radio/tv signal, but that wouldn't have a material impact on the values.
Thanks Corey, for you advice. I'm also looking at Highbury as a comparable and Flagstaff hill as there is stock in this price range. In terms of the tone of area, how do you rate these areas in comparison? Is Highbury too far out ?
I have had several homes in Flagstaff Hill,4 in fact.Keep on the city side of Blacks Road,in my opinion.I did some good buy,reno and sell gigs at Flaggy, on one place also built a self contained granny flat with its own street entrance there.As the map suggests, its a pretty big suburb though.
I wouldn't say its too far out - in the end its a comparable distance in driving terms to Athelstone. Highbury is very much an owner occupier area with a small percentage being investment properties (circa 10%), so this might come in to play when finding suitable tenants/rental stats however. Jim's given some good information about FH - I'll leave the commentary to him.
If i was going to go and live back in Flagstaff Hill, i would only buy in Craigburn Estate, just my 2cents worth.
Its raised 8.5, 5.3, 7.3 over the past 3 years, average of 7% year on year. So its a rising market, can't argue with that.
Buy this and you could possibly have lots of stock. Suburban home on 4.5ha marketed as ‘the biggest land sale in (Adelaide’s) southern area’ - realestate.com.au