SA Elizabeth Property 2017

{Note: thread continued from here: SA - Elizabeth Property 2016}

 

Just as a heads-up: There has been a spate of arson attacks on empty properties in the north - culminating in this terrible incident last night:

http://www.adelaidenow.com.au/news/...h/news-story/e10f31c4a1bfbc582e5b85c53e455889

Even if your property is only temporarily empty or under renovation it's a good idea to ensure that your insurance company is fully informed in case you find yourself denied payment due to the "details out of date" or similar.

 

New ice rink/Entertainment center close to approval,

Playford News

 

The tennis courts being built have made good progress too.

I guess they think that getting kids involved with sports will stop the multigenerational crime cycle.

 

Drove through Elizabeth a few weeks ago, mind you only on my way to the Barossa... But I was impressed with the amount of work that is actually happening there.

As @D.T. stated, the increase in sporting facilities should hopefully only improve the area.

 

Playford News

Yeah the tennis courts are looking great and shouldn't be too far off from completion.

I think that a lot of people would be oblivious to the amount of Development that is currently planned and in progress in the Playford lga. The local council is pushing development hard, but more importantly private business is also backing the area.

 

Pasted from yesterdays edition of Northern Messenger.

Get in quick to bag a property bargain
From page 01 ANGLE Vale, Elizabeth and Andrews Farm have been dubbed the “bargain areas” by northern real estate agents following significant median sale price drops in the past year.

New CoreLogic RP Data Market Trends figures show the median price for Angle Vale homes fell by $25,750 in the year to December 31, when compared to the same time the year prior.

It meant homes were selling for a median price of $484,250, compared to $510,000 in 2015.

Meanwhile, houses at Elizabeth dropped from an aberage of $238,500 to $220,000 and Andrews Farm median prices fell to $270,000, down from $279,000 in 2015.

Ray White Salisbury sales agent Andrew Farnworth said a large supply of new houses around Andrews Farm was driving down sale prices of the older homes in already-established areas. But the Elizabeth decline was a surprise, he said.

“I would have thought the property values would have gone up because of all the new developments in the area – Playford Council’s Northern CBD and the new sporting infrastructures, including the law bowls, tennis and soccer facilities,” Mr Farnworth said.

“But in saying that, I think Elizabeth would be a very good investment for buyers … I would certainly urge people to get in now before the developments are finished and the price starts to jump again – it’s a bargain area at the moment.”

First National Real Estate Gawler sales consultant Grant Fielke agreed now was the best time to snap up a property at Elizabeth.

“It’s very cheap and the reason for the drop in price is because there are so many cheap house-and-land packages in that area,” he said.

 

Lol if i had $500k to spend it wouldnt be out there.

 

Why would you spend 500k out there? You don't have to, that's the point. What's the point of this post?

 

Because that was the reported median. Some people are obviously spending that out there.

 

That's because angle vale properties are on much larger parcels of land

 

I don't know, it seems to me that the number of houses that I'd consider purchasing in Elizabeth are decreasing, not increasing. I bought houses for well under $200k ($147k for a freestanding house for example) and I don't see those popping up much.
Though it could be a tale of two cities, where the lower end of the market is reducing stock while the top end (didn't know there was a top end in Elizabeth!) is contracting. That could be one theory. Another possibility of course is that my gut feeling is wrong and the market is falling.

Either way, I'm happy, I've got five properties in Elizabeth that are all doing well and would consider buying more if it wasn't for banks saying no more to me.

 

@spludgey prices seem to be down in the lower end. I have looked at a few properties on the market and the current list price is lower than the previously recorded sell price.

 

Yes, but that seems to be a longer term trend than from 2015, as quoted in the article. I just had a look on RE and here's Elizabeth North for example, which is inline with what I perceived to be happening and conflict with the article.



Edit:








Looks like a bit of a mixed bag. Overall probably stable or a slight upwards trend.

 

Just had a visit to the area (First time in adelaide actually)

1) Are lawnmovers legal? seemed like everyhouse in the elizabeth area had grass upto my knees lol

Aside from that was pretty impressed with Playford Council's development stance. Very supportive to keep up affordable housing by allowing 300m2 lots and allowing subdivisions. Great thing too it makes the neighbourhood look nicer with new houses everywhere.

But from this i get the idea prices are not going to go up at a good rate. Looks like there is a lot of supply of land in the area and also subdvisions are occuring a lot.

Also do the stats mean anything? As new houses come up (which i see are around 50-100k more than exisiting houses depending condition and size) the more new houses that get built and sold the more the average sale goes up but has land value really gone up?

 

12A Underdown Road Elizabeth South SA 5112 - House for Sale #124879622 - realestate.com.au

Is this price for real for Elizabeth south it must be a mistake.

 

Looks a pretty tight double garage as well

 

Looks like somebody's development cost a lot more than they thought it would and they want to get rid of it.

 

Of course!
It is in "a highly sought location" after all

 

"Step outside with a box of wine or two and enjoy the undercover veranda area all while watching the kids throw rocks at cars from the roomy back yard."