SA Investments

Hi all, I have been a long time reader of these forums however have just signed up and this is my first post. I have been looking for an investment in SA and have researched a few suburbs such as Elizabeth. A few factors deterred me from advancing. One suburb was highly reliant on mining and after talking to the locals there had been a significant decline in business and vacancy rates were quite high at the moment.
I was wondering if anyone could steer my attention to a well researched suburb. I am looking to spend around $300k max and look to hold for around 5 years. With my limited knowledge of SA I am open to all suggestions.

Thanks all.

 

Lots of places to look for up to 300k, though none reliant on mining unless you are looking outside of Adelaide metro?

 

I would recommend speaking to @DaveM . He knows Adelaide well and will help you with your purchase. With 300k you could probably pick something 10-15km from the city.

 

Thanks for your replies. Sorry, I meant I didn't proceed with the suburb due to the fact it was reliant on mining. I was hoping for something definitely around 10-15km from the city

 

What are you actually trying to achieve from your investment? Set and forget for long term, renovation, development, yield, capital growth?

Not sure what you mean about the mining bit, there's no mining suburbs in Adelaide.

For $300k price range I wouldn't be looking anywhere near Elizabeth.

 

The suburb was Whyalla (sorry the name escaped me before).
I'm looking to renovate and hold on to. If the yield is generous I will hold for longer than anticipated but my initial hope is for 5 years then trade in. I have no real knowledge of development potential in these areas and what zoning states etc so I haven't considered this yet; the trade in property will be exploring these areas as I will hopefully have some extra funds to play with.

 

I personally would avoid Whyalla. Plenty of renovate/ hold on to investments in the adelaide suburbs

 

Plenty of good options in Adelaide metro without having to go to the regionals (Whyalla, Port Augusta etc). One (or two) trick pony towns get decimated by single employer changes or contract losses - Whyalla is a good example of this with Arrium and the ship building heydays.

 

This is what I was concerned about. DaveM do you have any recommendations within my budget where I can begin searching?

 

Forza have you considered the southern areas?
Christies beach to port Noarlunga?

 

With a budget of 300k max, they would struggle to find a house in either of those suburbs. However plenty available in that price range in adjacent suburbs such as Christie Downs, Morphett Vale etc

 

Definitely avoid regional SA when you can have a large selection of quality properties in areas within your budget. For that budget there is a lot of options within the middle the outer ring of Adelaide, where the majority of CF+ properties with reasonable land components are found. You can otherwise squeeze into the inner areas with a ground level unit with a small land component if you're lucky.

DaveM is a good person to speak with in this regard, he assists many investors buy in Adelaide.

 

North - Modbury and surrounding suburbs
South - Christies Downs and surrounding suburbs

 

Yeah/Nah i dunno bout this.3 years into Christie Downs, i ordered a full val today to see where we sit.

 

Hi @jim1964, can you share with me please? Ta

 

Ican share i bought in at $245k,will post the val result in a week or so.

 

I am not sure if you are keen to use buyer's agent or not. I just bought a property in Adelaide, around 14 kms from city, corner block 670 sq m for around low 300s. Used DaveM as buyer's agent. Very genuine person. Nothing hurts in talking to him. I would avoid Regionals for sure and use expert's service but that is me.

 

Ingle Farm!
12km north east of the CBD. Find a cheapie with land and you can't go wrong.

 

I still prefer the South - same distance from the city but south.

 

With a budget of 300k unless you're looking at units you're not going to get anything within 15km of the CBD south of the city.