SA IP for $350k in S Adelaide. Need opinion on Hackham & Huntfield Heights

Hi all,
Planning to buy IP in South Adelaide. My budget is $350k. Looking to buy an established property with a block size of at least 600 sqm. I was initially looking at Morphett Vale but I noticed that prices have risen, so think I am priced out. Also stock seems to be very low. Now, I am looking at other neighbouring suburbs such as Hackham and Huntfield Heights (data doesn’t look bad!). Interested to hear views from investors who initially considered these suburbs and eventually chose to either invest/ not invest there (want to know the reasons for and against - will help me make an informed decision)? Also appreciate thoughts from property managers in Adelaide on these suburbs. Feel free to suggest any other suburbs in Adelaide at this price point. Thanks!

P.S. - I am new to the Adelaide market. I live in a city that is currently locked down (no prizes for guessing ). Plan is to buy sight unseen with local due diligence.

 

What does your research tell you so far?

 

Hackham (Drop in DOM, Strong rental yield, Right OO-Inv mix, 13% growth in last 1 year, < 2% vacancy rates)

Huntfield Heights (Similar to Hackham, slightly better on some of those metrics)

Source : SQM, Domain & PropInvMag (with some lag in data)

Thoughts?

 

At some point you need to trust your sources, and jump in.

 

Haha....that's right, especially in this market! But good to hear views on both the pros and cons as it is a completely unfamiliar market to me

 

I think 350k is a bit low.

Also Adelaide loves its beaches. Is there a better strategy closer to beach along train line?

And good luck!!

 

Thanks mate! Just purchased one in a regional area. Don't think can beyond that budget if I am looking to buy something soon. What would you recommend though for a higher budget say $400k?

 

Well what is Maslins Beach like? Lovely area, and cheap cost of living ( no clothes required ).

Christine's Beach. Moana?

Maybe second Valley ( outside Adelaide a bit).

 

Morphett Vale has moved but there are still plenty of properties for 350k.
https://www.realestate.com.au/property-house-sa-morphett+vale-137038674

I prefer Hackham over Huntfield Heights but both suburbs are preferable to Hackham West and Christie Downs. If you're keen on southern Adelaide just keep your eye out on any suburbs between Reynella and Seaford.

 

Thank you! This is helpful.

Yes, I did look at those listings and enquired about them yesterday. Looks like it requires some elbow grease. aLSO, I am not considering Hackham West and Christie Downs, as you mentioned. I did look at Reynella but again too pricey for my budget. Will keep an eye on the suburbs between that and Seaford. Can I ask why you would prefer Hackham over Huntfield Heights?

 

Median price of properties in some of the suburbs you have mentioned are ~$500k+

 

Christies Beach? Really?

 

Not Christie's beach.
Maslin Beach - $520k
Moana - $518k

 

Well maslins was a question. Ie what is it like? Not surprising really.

Moana I cannot believe it !! So I learned something.

 

I've been looking in same area and around Elizabeth for that price too, but things sell too fast and/or go to auction only "by attendance" so interstate impossible

 

Property in Port Noarlunga / Christies Beach has also increased by about 15-20% in the last year or so, particularly in last few months. 700-800sqm blocks in Christies that were going for 350-400 a year or two ago are now 450-500 and still increasing. First real growth down there for many years.

 

What about an older style unit in some of these locations mentioned? Some of them sit on some valuable land where a developer will come looking in the future.