Entry level invest property in Adelaide or Brisbane?

But to be fair, are lot are struggling to sell... a few have been sitting on the market for close to six months @ 299k. One hasn't sold in quite a few months at 335k & the last sold price was 350k in 2015

 

Correct.Thats why there is still a 1960's house there returning $330 pw.Its a timing game, and nows not the time.

 

Agreed. Christies Beach, Port Noarlunga will have to boom at some stage, they were starting to really take off. Might be a bit of a wait now though, as you said.

 

Great insight. Any reason there has been not much capital growth in Parafield Gardens, Paralowie, Salisbury etc? Is any growth expected in 3-4 yrs in future if Covid-driven slowdown doesn't last too long?

 

Over the last 3-4 years those areas have gone from high 200's to low-mid 300's but rents have also risen by around $30 a week as well. Adelaide has not experienced the population or jobs growth of Sydney and Melbourne so that contains prices in the outer suburbs.

Given the pandemic and depending on recovery I'm guessing that houses around Salisbury will probably be valued at around low 300's at worst and low 400's at best in another 3-4 years. With interest rates at record lows it's cheaper to purchase then rent in a lot of cases and that's why I can't see houses being worse off in 3-4 years.

 

Hi, I own 2 property's in Adelaide, one in Para Hills and the other in O'sullivan Beach. Both are cash flow positive now. The Para Hills one I lived in for a while, and if I were to tern back time I would have baught in Holden Hill.
If you want to buy in Adelaide under 300K I'd personally buy in the southern suburbs.
Morphett Vale (and surrounds) is running fairly hot with property's going under contract very quickly.
I have been looking my self in and around this area for a place to buy then rent out for 18 months then move into (currently in NSW, moving home to Sa). my budget was up to 350k. Single income 3 kids, so budget was tight.
I just signed the contract on this place in Huntfield Heights:

https://www.realestate.com.au/property-house-sa-huntfield+heights-133825402

for 315K on 1000m2 block with views (rent for $300-320pw. There were 2 other offers on this place as well.
Now my criteria is slightly different as I want to eventually live in it and extend up etc. Based purely as an investment, I would have payed 300-305k, but even then I would be look at something else in Huntfield Hights for around 270K on 700m2 block that would get the same rent. Christies Beach is over your budget I've seen some in O'sulivan Beach, Christies Downs Hackham/west for your budget and Morphett Vale you can still pick them up and its moving which is a good sign.

This one tick all the boxs, in my opinion:

https://www.realestate.com.au/property-house-sa-o'sullivan+beach-133689190

Huntfield Heights Ticks all the boxs too. Also be mindful though of Seford Meadows and Port Noarlunga areas, as its a high development area.

I think Adelaide is going to go through a slight boom after Covid 19, nothing like Melbourne or Sidney, but still all the signs are there.

 

this is the search of suburbs I was looking at (many suburbs out of my price range but still looking!), I adjusted it to max 325K for you and 600m2 block, Some good buys there

https://www.realestate.com.au/property-house-sa-hackham-133895614

 

This one in Morphett Vale my in-laws did a quick walk through for comparison, for us and said the place was manic, with one woman wanting to make an offer on the spot. they just left as social distancing was thrown out the window.

https://www.realestate.com.au/property-house-sa-morphett+vale-133826958

 

Have you considered Birkenhead in SA? Good fundamentals, likely to outperform the average growth in SA in the next couple of years.

 

Chris,

I’d be considering anything around the inner-middle rings of Brisbane. With your budget you could get an older unit/flat in a very good location. These are very solid investments as they are usually located in well-located suburbs within close proximity to major job hubs and transport which is very desirable for renters. They also have very low strata fees, and have great renovation potential. They are also good land banking opportunities as many of these older unit blocks close to the CBD are getting redeveloped. You may be able to get a townhouse I think slightly outside the inner-middle ring however with a good search you may get lucky.

 

With the big announcement of increased federal defense spending by Scomo the other day, areas like this could benefit as manufacturing will likely be in Osbourne / Port Adelaide.