SA Salisbury LGA Summary

good write up with some very useful information

quick question - what region is this considered on realestate.com.au (eg logan city region or parramatta region)

 

Northern Adelaide, which is self explanatory. Or Adelaide Region.

 

Thanks for the write-up and information @Corey Batt, very useful!

 

Fixed

 

Can anyone on the ground in Adelaide pls share how the action is in Salisbury North (and the cheaper suburbs in the Sal LGA)?

Is there visibly more interstate investors in the market?

I have a pretty tight criteria and struggling to find anything for the past four weeks.

 

Very different to 12-24 months ago... sub 220k market is very scant apart from main roads or semis.

 

Sub 200k? I may travel to SA over Christmas. Overseas trip canned.

 

Sub $200K would be ideal but that is looking pretty doubtful in Sal atm unless it requires an extensive reno (and I'm only looking at a max $10K cosmetic reno).

Even trying to find a good $220K is few and far between.

 

Don't give up!

 

I wouldn't dare

 

Sub 200k is stretching it a bit in this market - keep in mind the Adelaide market is rising now and it's no longer a case of turning up to properties on market for 90 days with no one at opens. We've been through the trough and it's an market on the uptick, so you need to adjust your purchase type and buying style accordingly otherwise you'll find it very difficult to buy at this time.

 

This house has been on the market for a while asking for 230k. Basic 3x1x1 on 676sqm.
6 Amsterdam Crescent Salisbury Downs SA 5108 - House for Sale #123221494 - realestate.com.au

I think you could get it for 220k and you could do a quick reno e.g. new bathroom or some undercover parking.There are still houses at there, but they are getting more difficult to find.

 

Was on affordable homes, came off about 2 weeks ago. Its on the corner of 2 main roads with a petrol station at rear. Fine if you like lots of rating 4/5 on valuations, not fine for sane people.

 

Yup, need to think like a valuer does if you want the property to go up. Can't just buy the 1st listing on REA and expect it to perform.

 

Hi @D.T. can you please explain what you mean by your comment?

 

You need to look for attributes which would make a valuer give a higher valuation than other properties. This can include

- Street appeal of house
- Street appeal of street and surrounding properties
- High or low side of street
- Layout
- Proximity to facilities, parks, schools, shops
- Room size
- Interior condition
- Inclusions eg built in robes, heating and cooling
- Proximity to negative elements power lines, infrastructure, walkways, commercial/industrial properties etc

Its something I consider very carefully when discounting properties from searches... may look good on paper but the location lets it down, or surrounding land use.

For example, discounted a property for a client which was otherwise great condition and well priced in Salisbury. Large vacant block of land at rear so no neighbours. Sounds good? A nearby DA search showed the land was zoned commercial, and further up the road there were concrete tilt up warehouses already built. A DA had just been submitted to remove restricted and significant trees on the vacant lot, including where the street access was. Further digging showed there was planned to be industrial units built behind, which would tank a future valuation and ability for the client to pull equity out, or even a negative equity position.

 

Thanks for the great feedback @DaveM. Good insights

 

Guys, what are your thoughts on Whites Road and Shepherdson Road?

I also thought they were main(ish) roads however they are not listed as Secondary Arterial Roads under the Development Plan?

Are properties located on them worth exploring or keep clear of them?

 

As a general rule I write off anything that is on the below roads

Whites
Diment
Burton
Waterloo Corner
Martins
Bolivar
Spains
Park
Frost
Saints

Plenty of non suburban feeders to choose from without adding val risk ratings

 

I'd avoid them unless you can get something really cheap. They're busy which turns off potential tenants. The valuer will also minus a bit when it comes to refinance as well.

Plenty of others to choose from, got a couple that run just off of Whites Rd which will perform decently.