Parafield Gardens SA

Any opinions on where Parafield Gardens in SA is going?, I have a property there on Shepherdson Road which I've had for a while and it seems like not much is happening. If I were to sell, what months of the year would be best for a good result? My council valuation is $270k, rent is $285pw would asking around $300k be over optimistic?

 

Don't follow the area religiously. But depending on what condition the house is you could easily get over 300k

@Corey Batt follows this area he may be able to give advice.

Why are you wanting to sell?

 

From people I know on the ground, they've been reporting that the market has actually been strengthening well. There is a large demographic shift, with the area gaining popularity with the Muslim community - this has been reinforced with one of Adelaide's only Muslim based schools being built in the area.

I wouldn't be surprised if it continues to strengthen based on this alone - Enfield/Blair Athol/Kilburn did exactly the same with the Indian/Pakistani communities.

As to best time to sell - check the average stock levels per month - as always the less properties available the more it will be in your favour to the best result possible.

 

Aldi has opened up a store in Parafield Gardens white Kings Point shopping centre will be due to go ahead in the near future. Add to that the electrification of the Gawler rail line which i think has been marked as priority . Article regarding the $220m shopping hub below.

 

The SA government has also released some detail regarding Northen adelade. Home. Included in that is the Northern Adelaide Food Park which will be situated in Parafield . Northern Adelaide Food Park - PIRSA. I think there is quite a bit of investment happening in the area and signs could be good for the future

 

Any time of the year is good for selling as there are buyers all year round.

Sales spike up a bit in spring to Autumn due to people attending more open inspections.

As for the price - best to get a valuation from a real estate agent.

Property values depend on size of property plus it's condition plus it's location. It's difficult to speculate without an actual address.

 

Patterns wise - if you watch Adelaide quarterly medians the December quarter has 7/10 been the highest quarter for medians over the last decade - and 9/10 years the December quarter has been higher than the September quarter.

The years where this hasn't been the case has been years of decline across the entire year.

 

You probably want to get an appraisal if its for selling purposes, not a valuation as that is for finance purposes.

@pete_pumpkin Spring is statistically the best time to sell. However, whats the motivation for doing so? Are you bearish on the market at the moment? I thought most others were bullish?

 

Yep...own there....lots of Afganis and Pakistanis and even some Sudanese. The presence of things suited to a Muslim community is the attraction.

I bought mine for 185k many years ago....the market is moving quite well now...it is moving at the same speed as Enfield and surrounding areas. The stuff under 250k is flying out the door if you can get it....I think a a few years the price point will be 300k plus starting.

Rents are good at between 270-300pw.

 

Thanks for your responses people. My motivation I guess is I'm loosing hope as it seems as prices have been a bit stagnant for some time - I'm sort of in between work (partime atm), and I'm a bit worried with the economic future ie low inflation, industries shutting down, political reforms etc etc I'd love to see another boom with a 15% annual rise etc but will Adelaide follow the eastern states? I bought the property in 2008 iirc for $210k. I'd need to replace the kitchen and carpets and maybe a re-paint - tenants haven't really looked after it too well. I'm just leaving my options open really and don't want to make a mistake putting it on the market at the wrong time. It's good to hear the postitive aspects though - thanks

 

Council valuation is always under the market value. Get a RA appraisal if you want to know but add have a 5-10% discount and you have your conservative market price (if the RA is any good).

Wouldn't sell unless you're in financial distress though.

 

That whole area will see some good growth over the next few years. Ingle Farm is a good example of how these suburbs can move in a relatively short timeframe.

If you bought it at a good price a few years ago, then unless you have a real need to sell, I would hold it a while yet. I have people asking to buy there all the time, so if you do decide to sell let me know first ;-)

 

Ill give you what you paid for it if you want to sell

 

Always sell something you aren't sure about, it'll save you a lot of headaches in the future.

 

Unless it's eating into your pocket (e.g. maintenance) I'd just hold onto it.

 

Looking at Parafield Gardens for some time for the next one. Which part is more 'family friendly'?

 

Most of parafield gardens is fine, avoid proximity to arterials and feeder roads for best vals

 

Parafield Gardens is the Jewel in the crown in terms of Salisbury Council.

As I and a few other people have pointed out the Muslim commuity (mostly South Asian) like this area. If they do what they did in the NE then the prospects are very good.

 

What gives you that impression?

 

Just demand....at the moment....some of the other suburbs are starting to get pricier.

Parafield Gardens is also preferred by immigrants because it also has a station...very important to them. Also it is relatively cheap and lots of renovation happening in the area. Have already fielded 2 calls to sell over the last couple of weeks. Mind you I don't think it will do a major boom like Sydney or Melbourne but very steady and consistent growth.

I would not surprise to see most house go in the low 300 onwards. You can still buy at good prices for the moment.