SA Outer Southern Suburbs Adelaide Summary

I agree I could not find any house around 250k mark in MV unless it's on main road. I think there's still bargain in Christie Down though..,

 

Looking around hackham and Morphetvale.

 

Thanks for the local insight.

 

For that price you need to be willing to cosmetic reno these days. Find a pm who's willing to facilitate that.

 

The plan is to buy something that requires a reno

 

Stick to your budget - you'll find something for that price eventually

 

There is a few under 200 k in hackham under the affordable homes thingy.

P

 

Watch them and jump in once the eligibility date lapses.

 

I suggest to talk to DT if you need help with interstate inspection and reno. He's really helpful and did an excellent job in organising my reno...

 

How much did you spend on the reno ans what was done.

 

About 10k - painted throughout, floorboards sanded & polished throughout, new window coverings, and misc handyman stuff.

Looks amazing. Previous owner was a very heavy smoker so walls, ceiling and curtains were covered in inch-thick yellow gunk

 

I went to the open house for this property a few months ago. I wasnt overly impressed by it. It was tenanted by some messy tenants and it stank of cigarettes.
The other day I went with @D.T. to help him install some curtains. When I walked in my first thought was wow - massive difference. @blue behaviour your house looks amazing! It's clean and fresh. You wouldnt know it was the same house. I was really impressed and was a lesson to me. I didnt see the potential initially.

 

I was a bit hesitant as well in the beginning, but report from DT stated some potential of the house.

Yes, the painter and flooring guy that DT recommended have done awesome job. I did not know that you helped out with curtains, @Nemo30. Thank you for your and DT's help. We should meet-up with @D.T. And @CoreyBatt next time I come to Adelaide.

 

@Xenia what's your take on best suburbs considering all the info in this thread, for a cash flow positive suburbs?

 

hi southy lovers
i got full val on this done the other day, that i originally bought in jan 2015 for 228k. Came back at 235k
disappoints

 

Does the val stack up with the comparables they used in the report? Reasonably below the median of the area - but looks like a decent size property. Renovations?

Otherwise might be worth shopping the val dependent on your purchase LVR.

 

Given there's nothing for sale or recently sold in the area for that low, maybe its worth getting a 2nd opinion as Corey mentions.

Have you done many / any improvements to it?

 

Cheers guys, All i did want paint and polish. imo would easily sell for 250k...not that i really follow the market.

they compared it to
this - inferior to mine
this - comparable
this - superior to mine

oh well...doesnt matter was just trying to lower the LVR to get a better interest rate

 

Suburb Profile- Woodcroft
Woodcroft is approximately 20 kilometres south of the Adelaide CBD, adjacent to the suburbs of Morphett Vale and Reynella East. Commuter accessibility to the suburb has been improved since the duplication of the Southern Expressway was completed in 2014. The suburb offers a mix of housing, including courtyard-style dwellings built in the 1990's and older-style properties that are selling in the low $300,000's. Newer housing and detached housing on larger allotments typically sell in the $450,000 to $600,000 range. Weekly rents in Woodcroft range between $300 and $480 depending on the features of a property. Accessibility to the CBD via the Southern Expressway; the continuing improvement of local facilities, including a new Aldi supermarket; competitive rental yields; and lower entry-level pricing will create long-term growth opportunities for investors who buy in Woodcroft.

 

Woodcroft looks nice, and has a good owner occupier ratio. However its not very popular with investors as the blocks are generally smallish , not much by way of public transport, lowish yields, etc.

The woodcroft side of morphett vale is the nicer part of morphett vale, and is a better proposition than woodcroft.

 

The Woodcroft side of Morphett Vale usually sells for low 400's depending on the house. I wish they would rezone that section of Morphett Vale and rename it how they did with other suburbs e.g. sections of Salisbury East to Gulfview Heigts and parts of Para Hills to Modbury Heights.

Edit- Personally I'd call it Morphett Vale East or alternatively there is a new subdivision on Pimpala Road, which is called 'Woodcroft Heights'. I'd rezone the area East of South Road & Pimpala up to the section East of South Road and Bains Road.