SA Hype Davoren Park, Adelaide

Discussion in 'Where to Buy' started by Barny, 26th Apr, 2016.

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  1. sash

    sash Well-Known Member

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    Then ain't a thong'in....sorry the rules are rules..not a legal thong'in
     
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  2. Matt Hartney

    Matt Hartney Member

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    not to far away from daveron park is Elizabeth park you can purchase a brand new house on decent land for 210k. Obviously these houses will rent out at a higher price and quicker then the run down houses. Has anyone got some thoughts on Elizabeth park?.
     
  3. sash

    sash Well-Known Member

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    I would gave Lizzy Vale...before Park....
     
  4. spludgey

    spludgey Well-Known Member

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    In the process of buying a pair of semis in Elizabeth Park currently. It's definitely better than Daveron Park. Plus 8% yields, which is always nice.
     
  5. sash

    sash Well-Known Member

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    ...and a much nicer areas also....

    Mind if I ask what you are picking them up for??
     
  6. HUGH72

    HUGH72 Well-Known Member

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    Slightly upmarket from Elizabeth Downs and North.
    More likely to have a employed tenant, I checked out quite a few places there last year.

    There were plenty of OOers looking at some of the more affordable houses in decent condition at the opens I attended.
    Its slightly more expensive than Elizabeth Downs or North.
     
  7. HUGH72

    HUGH72 Well-Known Member

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    The new builds I saw around that price were on small blocks or community title.
    What is the land size and is it Torrens Title?
     
  8. Barny

    Barny Well-Known Member

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    Mines 450square in daveron. What size block in Elizabeth park?
     
  9. sash

    sash Well-Known Member

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    Saw a few H&L packages for 225k...
     
  10. RetireRich101

    RetireRich101 Well-Known Member

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    ...whereas say someone purchased Elizabeth North (another low socio economic suburb) 10 years ago, would made 100k give or take. It's all about timing in the market, not time in the market.
     
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  11. D.T.

    D.T. Specialist Property Manager Business Member

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    And then complain on the forum that no one can make money there?
     
  12. JDP1

    JDP1 Well-Known Member

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    Here's a challenge for those who invest in low socio econ areas...buy in davoren park (as per my post above, and the title of this thread.. )...its also the right time to buy..adl is hardly booming. :)
     
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  13. D.T.

    D.T. Specialist Property Manager Business Member

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    Challenge #2. Find a PM who'll take it on :p
     
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  14. sash

    sash Well-Known Member

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    Well I have held Lizzy North for 10 years....no money in it....maybe 3040k.

    Parafield and Paralowie bought well under 170-185k...now more like 300k bought late 2007. Holden Hill bought for 232k..already made about 50k on it since Feb 2016.

    So you can understand why I am thinking this way.......you da man Davo!

    I am just a poor Fella from yonder (point Eastwards) where those city slickers live....

    Hey serious question now...I read you plan to retire by 40...how do you plan to do it in 7 years and replace your income? Will be doing it just on Adelaide real estate?
     
  15. DaveM

    DaveM Well-Known Member

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    Yeah trouble is that if you want any extras, ie the house to be liveable, you add on 40-50k. Adl project home builders are reknown for baity H&L packages which are nowhere near reflection on built cost
     
  16. sash

    sash Well-Known Member

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    Great pick-up!

    That is exactly what I find from the crooks...err Adelaide builders.

    The finishing costs are minimum of 30k

    I called about a package for 320k for suburbs X ....land was 180k....so I am scratching head as to how they can do it for 150k. The asked the obvious...5 second pause and tells me another 30k required.

    But the suburbs I was looking at was only 12 klms out and the land was an infill cut-up. So closer in than Melbourne. The cost of construction seems to be on par with or slightly more than Melbourne.
     
  17. Drgonzo

    Drgonzo Well-Known Member

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    It's interesting how much people assume Davo is full of crime etc. when I lived in West Hindmarsh I sore more trouble there than I did in Smithfield which is adjacent Davo. Davo wasnt much to look at sure but the urban renewal going on in there is changing the optics of the area a lot. It might not be a retirement destination but it is affordable accessible and in my view more attractive for younger families.
     
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  18. Drgonzo

    Drgonzo Well-Known Member

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    Don't agree with that at all you just need to be sensible. We are building a 4x2 200 square home on 490m2 of land in Playford alive for 160 + 186k build cost the house came in only 1k over the original budget and we added full height tiling, ducted ac etc. floor finishes are excluded but we have two quotes at around 7k each. Front landscaping and fencing included.
     
  19. Johnny Cashflow

    Johnny Cashflow Well-Known Member

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    I bought in Elizabeth North for 150k a year ago. And the previous owners bought for 136k and they held the house since 2005. So not many are making 100k.

    Elizabeth prices were at their highest in 2008 and have slowly declined since then and stagnated.
     
  20. D.T.

    D.T. Specialist Property Manager Business Member

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    I bought in Liz for 250k in 2014 now worth 300k.