SA Elizabeth SA Mega-thread continued..

It is indeed - with restrictive land zoning rules across Australia there is a push to increase density in all cities which is pushing land sizes down. Adelaide councils have been particularly overzealous with this, allowing as small as 200sqm blocks of land for freestanding homes.

 

Yes D.T.

looking to buy this year in SA (fingers crossed with finance). looking at Elizabeth Downs in particular. Similar to your criteria, land with subdivision potential.

 

I just built a 3x2x1 on 290sqm with handover this week, almost no backyard what so ever. Block down the road from me sold just a couple weeks ago @ 250sqm for 140,000

While i wouldnt want to live there a lot of people do, they dont have time for or want a yard to look after

 

Hey Josh,

What suburb is your new build in?

I think you've touched on a good point - I remember very well during the peak of the drought restrictions many people were saying that they'd rather a new/bigger house than a dust bowl.

 

Hey Josh, how much do you think it will sell for?

 

This is on the other side of town to this thread (south) was just passing comment on block sizes

 

Ah, no worries.

 

Any reason you're looking at Elizabeth Downs in particular? I find many of the Elizabeth surburbs to be fairly similar (although some arte better than others - but I wouldnt include Downs in the list of better suburbs). Unless you have a specific street or pocket in mind that you know is good?

Even yield tends to be all over the place within the Elizabeth suburbs - for me it just depends where the good buys are when I'm shopping (although I am becoming quite partial to Eliz Park!).

Best of luck with the hunt mate!

 

Hi I'm a first time investor who is looking to buy a property in the latter half of this year, and am looking at Elizabeth.

I'm from Melbourne and since it's my first time will be considering a buyers agent.

Mostly interested in this area due to price range and yield. I like the idea of the IP paying for itself, rather than me having to renovate or develop and to capital appreciation (living in Melbourne, this would be difficult, too). I will be looking at something with a higher yield, at least 7%, hopefully around 8%.

Will be posting in here with details how I am going. Might start a thread instead, if that's the preferred method here

 

Hey Waldo,

My main filter would be serviceability+ limited deposit, hence I am being pushed out to Elizabeth Downs. ED being one of the rough area in my view (i could be wrong) but I believe there's always a good deal for everyone everywhere, as each one has their own goals and has different circumstances. Being in the early stage of my DD, my perception will change substantially as my research progress that's for sure. Thanks Waldo!

 

Does anyone know the differences between Elizabeth, Elizabeth East, and Elizabeth down ?
Prices in Elizabeth down seems to be marginally cheaper

 

Post it in here mate - just remember that are other people watching this area in this thread, so I'd be careful linking anything that you want to buy in here. If you need advice on a particular property, send a message to some of the regulars around here. I know Corey in particular is very knowledgeable in this area of adelaide.

 

Specifically what differences do you mean? Geographical? Demographic ? Services?

I lived in Elizabeth for 5 years and work just down the road so I know the area reasonably well.

 

For those of us new to researching this area is anyone able to recap the benefits and employment opportunities in the area?

Do the majority of people work locally or travel the hour or so to the Adelaide CBD for work?

I'm starting my research for IP 3 & 4 so just starting out at a high level to see if this area suits my goals. Appreciate any info from those knowledgeable on the area.

 

-downs and -north are generally a little cheaper than the other suffixes, but in general they're all much the same.

Other non eliz suburbs in the same council are well worth looking at, depending on your strategy / criteria

 

It really depends on your strategy, criteria and goals. The benefit of Elizabeth is that its cheap to get into, puts cash in your pocket every single month and long term should turn out very nicely. This is because it has the most infrastructure spending out of any area in Australia; Govt is really onboard with improving the area - adding facilities, removing state housing, and encouraging young families in.

 

Where would i find more details about this? Elizabeth sounds like a possibility if all this is true.

 

Its fairly obvious to people on the ground.

For example state housing, have witnessed some being tarted up by the govt (to either improve them or resell them) and some that are beyond that have been demolished. These blocks are sold to either first home buyers or developers depending on their size.

It's getting to the point where some people are starting to live in the area by choice rather than as a last resort.

 

Can the locals comment on Davoren Park please? Seems like that area is a tad cheaper than Elizabeth or Smithfield.

 

I don't like it. It'll probably go up along with its neighboring suburbs (same like Willmot in NSW) but the standard of tenant there is noticeably worse.