Hi folks, I am looking to purchase an IP in Hope Valley. My main focus is cashflow. I would love your thoughts/ reviews about this area please! Cheers!
I wouldn't personally buy an investment property in Hope Valley as it's out of the way of rail transport. The median yields are fairly stock standard for Adelaide, nothing special if you are specifically looking for cashflow, but of course like any investment it depends on the specific deal. Do you have a property in mind there already and you are looking for confirmation that it's a good area to buy or have you just set your sights on that one suburb to find something in? A few years old, so some of the numbers are going to be dated, but a couple of the Adelaide regulars wrote up this reviews back in 2016 which are worth a look through to get a feel for Adelaide suburbs: adelaide suburb review - PropertyChat
Margaret Lomas was on the Switzer report banging on about Hope Valley. I like the north east, but not Hope Valley.
By any chance does Margaret own in Hope Valley? I recall her beating the Taperoo drum several years ago for the same reason. Not a bad call, but not a completely objective one. As said, no rail out to NE suburbs but there is the O-Bahn bus (same as rail). If you drive past one of the park & ride parking spots for that, you'll see it packed to overflow. So I'd say if going NE then get close to the O-Bahn, or close to NE road which has the high frequency bus routes (but they are on basically the same corridor.) I'd suggest closer to the CBD, in the Greenacres/Hampstead Gardens region. Closer to CBD (less than 5km), on the public transport corridor, similar price. Not as expensive at Walkerville or Vale Park, but next door.
Here is the Devon Park spruik. Benefits from Churchill Road Upgrade, New Hospital, Adelaide Oval, walking distance to North Adelaide, transport (train bus tram). Big upgrade on torrens road where rail crosses improves traffic. Also just far enough away from North South (Torrens to torrens etc) to benefit without being affected. You can still buy house with 700m land backing onto park. But they are scarce. Surrounded by suburbs that have steep rises in value. The last remaining industrial place has been rezoned, and the electical company (Entech?) is relocating. A smaller version of the Brompton redevelopment (Clipsal?). The suburb now contains modern townhouses, most of which are $450K. Old houses are rising steeply in value. Especially those in Charles Sturt Council area of Devon Park (20 or so houses).
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