first IP: single fronted bluestone cottage in adelaide cbd fringes?

I will consider any off the plans that are close to train stations in the relatively new areas would present some growth prospect as it is an unknown area and developers won't price their units too expensive.

I also noticed people are shifting to prefer new shiny properties over older style properties. This makes off the plans actually hold their value a lot better incompare to older units. Which in the past people doesn't seems to mind older properties but now there is an obvious difference. Potentially becuase we are driven by more owner occupiers now and they prefer a nicer property to live in and not many like a fixer upper.

 

If it's for long term hold I would definitely buy a bluestone cottage as long as it was structurally sound. I went to an auction at Parkside on the weekend. 3 bed stand alone 1910 cottage not bluestone, approx 60 people there. 12 registered bidders. Listed at $675K. Sold for $815K. Through the COVID-19 pandemic too! The winning bidder entered the auction at $812.

https://www.realestate.com.au/sold/property-house-sa-parkside-134201094

While you can do good +ve gearing in Adelaide with lower-end properties, you make your money on CG with these character cottages because Owner Occupiers want them and will bid high at all costs to get them when a good one comes up for sale. Depends on your budget though.