SA Elizabeth Property 2017

Discussion in 'Where to Buy' started by Corey Batt, 11th Jan, 2017.

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  1. Brady

    Brady Well-Known Member

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    @Sannie sub $300k in Mawson Lakes would suggest unit/apartment. If that is the case, run, run fast and hard away. Extremely oversupplied.
     
    Brady, 26th Jul, 2017
    #61
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  2. Brady

    Brady Well-Known Member

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    Brady, 26th Jul, 2017
    #62
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  3. Sannie

    Sannie Well-Known Member

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    16 Robinson Street Mawson Lakes SA 5095 - House for Sale #124565754 - realestate.com.au

    8 Hummock Lane Mawson Lakes SA 5095 - House for Sale #125298330 - realestate.com.au

    30 Franklin Avenue Mawson Lakes SA 5095 - House for Sale #126025278 - realestate.com.au

    35 Ridley Street Mawson Lakes SA 5095 - House for Sale #125344774 - realestate.com.au

    Thank you all. I am not entirely sure if the top 3 links I have posted are Torrens titled individual houses or not. However these were the ones I was saying about. Last is more closer towards high 300's but it had the appeal I was looking for.
     
    Sannie, 26th Jul, 2017
    #63
  4. Corey Batt

    Corey Batt Well-Known Member

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    except for the last one, little cheapo row houses and a townhouse.

    You have to ask yourself what draws you to the area and those particular property in comparison to other properties/areas. If I remember correctly those would all be community title not Torrens.

    Limited desirable, limited resale potential (one of my colleagues who is an agent who sold a large amount of the original Mawson Lakes developments and resales has noted the same - that a townhouse now can sit on the market for a year + unless it's priced very cheaply to try entice an unwitting buyer. Not exactly the kind of market conditions which are conducive for a quality long term investment.
     
    Corey Batt, 26th Jul, 2017
    #64
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  5. Brady

    Brady Well-Known Member

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    @Sannie I wouldn't be going near any of them - same as @Corey Batt mentioned they're just the same product.

    There just isn't enough demand to soak up the supply of these types of dwellings.

    I think you would be seeing pretty limitED growth in these types of dwellings for 5-10years

    There are still apartments being built now, more and more supply coming on every month.

    Think about the competition when comes time to sell or even just trying to get a tenant.
     
    Brady, 26th Jul, 2017
    #65
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  6. 2FAST4U

    2FAST4U Well-Known Member

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    2FAST4U, 26th Jul, 2017
    #66
  7. Corey Batt

    Corey Batt Well-Known Member

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    What's the angle? Yield is pretty average so it's either growth or development - with the former not being particularly crazy in Elizabeth and the latter isn't profitable (and I don't think will be for a long while with the large supply availability).
     
    Corey Batt, 27th Jul, 2017
    #67
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  8. MJ 23

    MJ 23 New Member

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    Speaking of Elizabeth South...

    This three-bedroom renovator is Adelaide’s cheapest house

    IF you’re looking to crack the South Australian housing market on a budget than this three-bedroom renovator for just $160 a week is worth consideration.

    Set on a sizeable allotment, 66 Willison Rd in Elizabeth South is Adelaide’s cheapest listing on realestate.com.au with an asking sale price of $142,000 to $147,000. That’s approximately $72,000 lower than the suburb’s median sale price and $297,000 lower than the Adelaide average.

    Best of all, the property — based on a 20 per cent deposit — could potentially cost you just $160 a week in mortgage repayments.


    No Cookies | The Weekly Times

    Investing advice from a journalist, telling me to buy a Elizabeth South duplex.....ok then
     
    MJ 23, 27th Jul, 2017
    #68
  9. TMNT

    TMNT Well-Known Member

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    Hey guys got an interesting q.

    I own a semi in Eliz down about 600sqm

    I was considering selling it
    However next door has done up for sale which is about 500sqm for about 150k

    How much is a double block 1100sqn Worth

    I'm even thinking of buying next door and selling it together if I could get more for it and it's worth the effort
     
    TMNT, 29th Jul, 2017
    #69
  10. DaveM

    DaveM Well-Known Member

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    Semi pairs in Liz Downs on 1100sqm 2 titles...

    Unrenovated 260's
    Partially renovated 270's
    Fully renovated 285-295
     
    DaveM, 29th Jul, 2017
    #70
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  11. joel

    joel Well-Known Member

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    No it isn't. It's not even a freestanding house.
     
    joel, 29th Jul, 2017
    #71
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  12. 2FAST4U

    2FAST4U Well-Known Member

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    Q1 2016 compared to Q1 2016
    upload_2017-7-29_20-47-2.png [
     
    2FAST4U, 29th Jul, 2017
    #72
  13. TMNT

    TMNT Well-Known Member

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    Thanks !
    It seems a 500sqm semi for 150k is very expensive
     
    TMNT, 29th Jul, 2017
    #73
  14. DaveM

    DaveM Well-Known Member

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    Fully renovated with a good tenant you might get some interstate investor schmuck for that
     
    DaveM, 30th Jul, 2017
    #74
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  15. 2FAST4U

    2FAST4U Well-Known Member

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    Happened last night in Smithfield Plains to a vacant.
    No Cookies | The Advertiser
     
    2FAST4U, 30th Jul, 2017
    #75
  16. Jjjjj

    Jjjjj Active Member

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    Did 33 Jeffries road Elizabeth property sold for 55.5 k?
     

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    Jjjjj, 30th Jul, 2017
    #76
  17. TMNT

    TMNT Well-Known Member

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    And today while enquiring for selling fees. Some of the fees are laughable charged by the agents.

    It seems they want to charge up to $500 for a administration fee. Plus high marketing costs.
    With the excuse that it costs $900 to put it on real estate.

    Other fees are up to 5% commission oh but that' includes gst so it's a bargain....
    Some are set fees of 5k for low end properties.


    The rort continues
     
    TMNT, 23rd Aug, 2017
    #77
  18. joel

    joel Well-Known Member

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    Sell it yourself. Not hard. It's a bit of running around but not $5k worth
     
    joel, 23rd Aug, 2017
    #78
  19. sash

    sash Well-Known Member

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    Just got rid of my Lizzie cheapie for 150k....made only 40k after ten years....yields are okay at around 10.5% of original purchase price and never missed a beat from a rental perspective....

    Focusing on getting rid of another cheapie......I don't want to own anything under 300k...anymore...it is not worth it....after selling the second one ...i have achieved this...
     
    sash, 23rd Aug, 2017
    #79
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  20. Brady

    Brady Well-Known Member

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    Was only driving through Elizabeth last weekend, bit happening down there.
    Be interesting to see how the next 5 years pan out.
     
    Brady, 24th Aug, 2017
    #80
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