Join Australia's most dynamic and respected property investment community

SA Investments

Discussion in 'Where to Buy' started by forza10, 6th Sep, 2016.

  1. forza10

    forza10 Member

    Joined:
    6th Sep, 2016
    Posts:
    5
    Location:
    Melbourne
    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.
     
  2. DaveM

    DaveM Adelaide Buyers Agent & KFC Strategist Business Member

    Joined:
    14th Jun, 2015
    Posts:
    2,123
    Location:
    Sydney & Adelaide
    Lots of places to look for up to 300k, though none reliant on mining unless you are looking outside of Adelaide metro?
     
  3. Balman

    Balman Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    118
    Location:
    Perth
    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.
     
  4. forza10

    forza10 Member

    Joined:
    6th Sep, 2016
    Posts:
    5
    Location:
    Melbourne
    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
     
  5. D.T.

    D.T. Adelaide Property Manager Business Member

    Joined:
    13th Jun, 2015
    Posts:
    5,604
    Location:
    Adelaide, SA
    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.
     
    jim1964, HeavenlyThang and DaveM like this.
  6. forza10

    forza10 Member

    Joined:
    6th Sep, 2016
    Posts:
    5
    Location:
    Melbourne
    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.
     
  7. Balman

    Balman Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    118
    Location:
    Perth
    I personally would avoid Whyalla. Plenty of renovate/ hold on to investments in the adelaide suburbs
     
    DaveM likes this.
  8. DaveM

    DaveM Adelaide Buyers Agent & KFC Strategist Business Member

    Joined:
    14th Jun, 2015
    Posts:
    2,123
    Location:
    Sydney & Adelaide
    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.
     
  9. forza10

    forza10 Member

    Joined:
    6th Sep, 2016
    Posts:
    5
    Location:
    Melbourne
    This is what I was concerned about. DaveM do you have any recommendations within my budget where I can begin searching?
     
  10. Xenia

    Xenia Adelaide Property Manager Business Member

    Joined:
    21st Jun, 2015
    Posts:
    2,347
    Location:
    4/136 The Parade Norwood, South Australia
    Forza have you considered the southern areas?
    Christies beach to port Noarlunga?
     
  11. Nemo30

    Nemo30 Well-Known Member

    Joined:
    31st Dec, 2015
    Posts:
    440
    Location:
    Somewhere
    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
     
    devank likes this.
  12. Corey Batt

    Corey Batt Finance Strategist Business Plus Member

    Joined:
    14th Jun, 2015
    Posts:
    1,173
    Location:
    Adelaide, SA
    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.
     
  13. Brady

    Brady Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    465
    Location:
    Adelaide, SA
    North - Modbury and surrounding suburbs
    South - Christies Downs and surrounding suburbs
     
    joel likes this.
  14. jim1964

    jim1964 Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    674
    Location:
    At tha beach
    Yeah/Nah i dunno bout this.3 years into Christie Downs, i ordered a full val today to see where we sit.
     
  15. ZachAnsel

    ZachAnsel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    110
    Location:
    Sydney
    Hi @jim1964, can you share with me please? Ta
     
  16. jim1964

    jim1964 Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    674
    Location:
    At tha beach
    Ican share i bought in at $245k,will post the val result in a week or so.
     
  17. UrbanDingo

    UrbanDingo Member

    Joined:
    29th Jul, 2015
    Posts:
    24
    Location:
    Melbourne
    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.
     
    RetireRich101, D.T. and DaveM like this.
  18. 2FAST4U

    2FAST4U Well-Known Member

    Joined:
    3rd Jul, 2015
    Posts:
    928
    Location:
    Adelaide
    Ingle Farm!
    12km north east of the CBD. Find a cheapie with land and you can't go wrong.
     
    joel, Xenia and D.T. like this.
  19. Xenia

    Xenia Adelaide Property Manager Business Member

    Joined:
    21st Jun, 2015
    Posts:
    2,347
    Location:
    4/136 The Parade Norwood, South Australia
    I still prefer the South - same distance from the city but south.
     
  20. 2FAST4U

    2FAST4U Well-Known Member

    Joined:
    3rd Jul, 2015
    Posts:
    928
    Location:
    Adelaide
    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.