SA IP in Adelaide- Up to 700k

Hi All,

I have approval for 700k to purchase my 1st IP. I have been hunting Brisbane for a while without much luck.

What suburbs should I target in Adelaide?
-My budget is 700k but happy to spend less, anywhere from 500-700k.
-Looking for a balanced asset with good short term growth potential, sound long term growth and a decent rental yield.

Any advice or further elaborations would be fantastic.

 

Close to Glenelg? Edwardstown, Morphetville?

 

I’ve been looking in that area towards Glenelg beach and it’s very thin on the ground atm.

Where else is likely to experience growth?

 

I quite like 5008 ( invested there - IP) 700 getting rare as the boom continues.

 

Christies Beach sleepers are going off.

 

I’m looking in Adelaide because Brisbane is very thin on the ground and too hotly contested.

Which city has experienced the most growth since the start of each respective boom?
ie- Which city is better timed to invest in?

 

Both boomed at the same time and by same amount. Brissy has more scope over longer term but u have to be prepared to look outside the inner city area.

They are quite different places.

I wouldn't be surprised if u find Adelaide just as challenging.

Anyway good luck with it