Hi property chat experts. Looking for Adelaide experts or those who live in Adelaide what they think of Hallet Cove. I was there last holidays and just missed out on getting a house. Many houses here have ocean views, close to train and it looks like a decent area. You can get a 3 bedroom house under 400k and I'm happy to rent it or even live in it. My question is what you think about the area in general? One of my concerns is how the suburb is very elevated and exposed to the ocean which looks great but wonder if it's very prone to storm damage. Also is the road to Halket Cove ( Sharp incline /decline) a pain to use?
it's the SA government you need to worry about, regardless of which party. TAX, TAX, TAX, TAX AND MORE TAX, TAX, TAX................ Lived and owned property here for 20 years. I now have a life in Broome WA
That's no good, I was hoping things were on the improve. I know electricity is expensive, what taxes are the biggest impediments for small business owners that I should be aware of?
First of all you need to decide whether you're buying a place to live in, or an investment property otherwise you may well end up buying something that fits for neither purpose.
Here in Queensland, stamp duty on a $450,000 home is $8,280. (First home buyer is $1,280) Adelaide, for a $450,000 home it is $22,484! - Same for a first home buyer! Most investors I know say Adelaide is not investment grade.
Hallet Cove has a good mix of owner occupier and investor appeal. Shopping centre, train station gets served by the morning express, ocean views in some streets.
Stamp duty in Victoria is also high. On the stamp duty calculator website for an investment property valued at 400k with a loan of 100 k established home and not first property the figures are as follows: Victoria $20, 728 ACT $9031 NSW $13,773 QLD $13,569 TAS 14,339 SA $19,660 WA $13,427 I guess with ACT you have land tax issues as well. For $400 k what's your choice for investment grade and are taxes a deal breaker ?
There were quite a few houses with great ocean views and was wondering how the suburb is affected by wind and storms. When you drive around you feel that the suburb sits high and exposed to the ocean, which gives you great sunset views. Community seems friendly as well.
Hi Serveman, I've never lived in Hallett Cove, but I've got a few investment properties in Southern Adelaide, at a quick glance it seems like a solid investment property option for long term buy and hold. Rental vacancies for the suburb are currently very low at 0.5%, (and have been steadily contracting over the last couple of years, therefor rental increase should steadily come, see SQM Research - Residential Vacancy Rates). Stock on market has also been steadily declining over the past several years from about 200 listings (5 yrs ago) to about 100 (keeping in mind it is a big suburb with on average 40- 50 sales per quarter, see SQM Research - Total Property Listings) so as long as demand remains steady with low interest rates- this should support slow and steady rising house prices. And the median sales prices has seen about 20% capital growth on average throughout the suburb since 2011 (see Public Information - REISA) whereas suburbs further South such as Morphett Vale (where I have 2 properties) has had only about 10% capital growth over the same period. As for storm damage, personally I wouldn't concern myself with it to much, that's what you have insurance for, I think most buyers would focus on the bonus of sea views and breezes rather than being exposed to the odd storm. Just make sure that any property you are interested in has good stormwater discharge system - being that the entire suburb is on sloping blacks of land, personally I'd always prefer to buy on the high side of the road rather than the low side, so you can get your stormwater to the street (avoiding expensive sump/pump systems). Good luck.
