SA Salisbury LGA Summary

Discussion in 'Where to Buy' started by Corey Batt, 9th Apr, 2016.

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  1. ADLInvestor

    ADLInvestor Well-Known Member

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    We own in Pooraka in the Montague Farm 'estate' and we found the tenants in the area a real mixture while we lived there.

    EG, the privately tenanted place behind us used to throw eggs/rocks etc if our dog barked, which was 3-5 times a day, for no more than a minute (we had video). This was compared to the old lass next door, who used to come over, pat our dog and bring cake ;)

    The current tenant we have is a single mum with 2 kids, been there for 3 years. 2 rent increases, but she's a stellar tenant, always on time, never complains about any really small issue. Currently tenant a 3/2/1 on 680sqm for $340/week.

    Also, thanks @Corey Batt and @D.T. for this write up, excellent information!
     
    ADLInvestor, 23rd May, 2016
    #21
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  2. Taku Ekanayake

    Taku Ekanayake Well-Known Member

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    I note that Salibury North and Salisbury has substantially higher rentals vs OO - does Sal North have a substantially negative stigma compared to other Salisbury suffixes?
    And does the Salisbury suffixes have a negative stigma from the wider Adelaide population?
     
    Taku Ekanayake, 29th Jun, 2016
    #22
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  3. Corey Batt

    Corey Batt Well-Known Member

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    Both have marginal stigma in some circles - hardly any to the good ol' days where it was seen as the roaming zone of the DADA, FUBU clad teens and their pregnant girlfriends. In terms of social view, it's fairly on par with Christies etc.
     
    Corey Batt, 29th Jun, 2016
    #23
  4. Taku Ekanayake

    Taku Ekanayake Well-Known Member

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    Thanks for the local insights @Corey Batt.
    I'm liking the numbers around the Sal region.

    Btw - FUBU is da bomb.

    Have you seen a notice in the demand from investors and market moving in Sal North in the past 6 months?
     
    Taku Ekanayake, 29th Jun, 2016
    #24
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  5. Small_investor

    Small_investor Active Member

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    The returns look good on all the areas you mentioned. I think it will be generally positive cash flow...
     
    Small_investor, 30th Jun, 2016
    #25
  6. Corey Batt

    Corey Batt Well-Known Member

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    I can't think of a month in the last 2 years where we haven't financed a purchase in the Salisbury area - in the last month we've done a dozen purchases spread between Salisbury, Paralowie and Ingle Farm alone. Strong consistent growth in investor activity, which is trending with the uptick in prices/rent in the area.

    You've hit the nail on the head - the numbers generally put well placed investments in the area as giving a neutral to positive cash flow, especially with rates at where they are.
     
    Corey Batt, 30th Jun, 2016
    #26
  7. Small_investor

    Small_investor Active Member

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    If there is decent CG then it's excellent investment. What are your views regarding the CG in the area ?
     
    Small_investor, 30th Jun, 2016
    #27
  8. c_west

    c_west Well-Known Member

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    Having recently purchased at Ingle farm, I personally am not expecting double digit growth or anything spectacular out of this area, just a reliable slow and steady growth with minimal holding costs.

    I believe if you are going to purchase within these areas it is essential that the block have future development or renovation potential. My particular purchase already has a subdivision approval from council attached with it. But in the meantime I can rent it out and after all is said and done it only costs me about $30 a week ($1560 pa) to hold. This gives me the freedom of not having to rush into a development due to expensive holding costs and I can just casually wait for prices to increase.

    I went for Ingle farm in the end due to it's proximity to the CBD (not always essential for CG IMO), walking distance to good amenities and if you move a few suburbs away you're in places like Clearview, walkely heights, Oakden, Norhtgate, Broadview and Prospect. Ok prospect is a little further away but I've got to justify my purchase somehow haha.
     
    c_west, 30th Jun, 2016
    #28
  9. DaveM

    DaveM Well-Known Member

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    With enough creative boundary adjustment, Gawler can be Walkerville adjacent :D
     
    DaveM, 30th Jun, 2016
    #29
  10. c_west

    c_west Well-Known Member

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    My PPOR in Hillbank is connected to the same roads that go through Bondi?
     
    c_west, 30th Jun, 2016
    #30
  11. jins13

    jins13 Well-Known Member

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    jins13, 2nd Jul, 2016
    #31
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  12. larrylarry

    larrylarry Well-Known Member

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    I'm now itching to fly over.
     
    larrylarry, 8th Jul, 2016
    #32
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  13. Small_investor

    Small_investor Active Member

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    Is there any online link to it ?
     
    Small_investor, 8th Jul, 2016
    #33
  14. larrylarry

    larrylarry Well-Known Member

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    you will need a online subscription. or get the magazine from news agent.
     
    larrylarry, 8th Jul, 2016
    #34
  15. joel

    joel Well-Known Member

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    Aw c'mon they already interviewed you guys before! When do the rest of us muppets get to feature in a magazine
     
    joel, 9th Jul, 2016
    #35
  16. Coota9

    Coota9 Well-Known Member

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    Coota9, 9th Jul, 2016
    #36
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  17. D.T.

    D.T. Specialist Property Manager Business Member

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    It isn't an interview, they just profiled an area from each state and figured we were the best people to ask in Adelaide.:p
     
    D.T., 9th Jul, 2016
    #37
  18. joel

    joel Well-Known Member

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    Lemme know when they profile beautiful Smithfield Plains..
     
    joel, 9th Jul, 2016
    #38
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  19. Tattler

    Tattler Well-Known Member

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    Surely they should profile Davoren Park ....
     
    Tattler, 9th Jul, 2016
    #39
  20. jins13

    jins13 Well-Known Member

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    Keeping a low profile is better or else we may end up like Salim Mehajar
     
    jins13, 10th Jul, 2016
    #40
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