afternoon all,
i was wondering if anyone has bought IP’s in South Australia, particularly Adelaide, this year? and how they found the market in SA (was it slowing, picking up or deadpan).
i’ve been interested in looking for an IP down there because of the (seemingly) cheaper house prices, and fairly strong rental demand.
all comments welcome,
cheers, e x
Hi emc
Last month’s Australian Property Investor magazine had quite a detailed article on the SA market. In a nutshell it said it wasn’t bad in certain areas of Adelaide and the regionals, but was getting pricey in coastal areas. Not a bad read if you are interested in SA. Hope that helps.
Cheers
[gossip]Hi Emc,
in the last 12 months we have bought 3.
Two are in regional areas – we started off buying just outside big regional centres that are getting very expensive, and have been happy with +ve cashflow and increase in value.
As we didn’t have any more cash for 20% deposits required for regional we have used the equity to purchase a city property. We took the plunge and borrowed the full amount and this property will obviously need us to put money in each week.We are in a position to do this and know this will increase in value much quicker than our country properties, plus there is a nil vacancy rate on rentals.
Along the way we have looked at heaps of properties and got to know quite a few real estate agents.
From this we have decided we (personally) would never buy a property without seeing it ourselves first. There are some real shockers which look very nice on the internet. Fortunately my husband has good knowledge and we have not paid for a building inspection until a house has passed his own inspection first.
All coastal areas here are now expensive, as well as along the River and in tourist spots, like the wine regions.
The market here is still growing in areas, although not as quickly as it was, in other areas the boom is just beginning. There are new areas opening up and developing quickly.
It pays to do plenty of research, talk to locals or get local papers, and we find Steve’s Buyer Beware kit invaluable.
Hope this helps a little,
Dianehi diane and rotorog,
thanks for the info, great to hear diane that you’ve done well with the three properties you purchased! will try and track down last months API
cheers, e x
Originally posted by emcdonald:i was wondering if anyone has bought IP’s in South Australia, particularly Adelaide, this year? and how they found the market in SA (was it slowing, picking up or deadpan).
Be gentle, L-plater alert. I am looking at buying my first IP at the moment in Adelaide (as this is where I live) and am looking for some advice. I am hoping to buy an older style place and renovate it. I’m working to a reasonably small budget, and so would love to know which areas are cheap now, but are likely to increase soon. Eg. not Elizabeth. I’m hoping to find something similar to the change in status that has just happened in Brompton.
[baby]I find it suprising that a Qlds investor would be looking at adelaide since the qlds market grew more than any other over the past year
Originally posted by Gambini:I find it suprising that a Qlds investor would be looking at adelaide since the qlds market grew more than any other over the past year
Why surprising???[blink] It is called diversity. Any smart investor will tell you, it can prove very profitable to invest in undervalued areas which have yet to experience their boom, than in ones which have already done so, and that have possibly peaked!!! To my understanding, I believe this is what Steve did with properties in country Victoria!!!
thanks jo, you nailed it on the head. The main reason for my interest in SA is that generally (and i do mean generally) i’ve found properties are less expensive. at the moment purchase price is my main concern, but we’ve all got to start somewhere right? thanks for the responses,
cheers,
e x
thanks jo, you nailed it on the head. The main reason for my interest in SA is that generally (and i do mean generally) i’ve found properties are less expensive. at the moment purchase price is my main concern, but we’ve all got to start somewhere right? thanks for the responses,
cheers,
e x
No problem emc,
Remember once you’ve picked an area with SA that sounds like it might be worthwhile, do some research on it and see what population decline/growth stats, infrastructure info etc you can find. Try the local councils for some of this info.
A few good sites to start with include http://www.reports.rpdata.com.au or http://www.domain.com.au (suburb snaptshot) and from there look at http://www.realestate.com.au to see what sales prices and rental prices are being marketed for.
All the best, [biggrin]
Jo
thanks jo,
will have a look at all those sites
e x
thanks jo,
will have a look at all those sites
e x
Suprising since if you hav watched the market south oz rose dramatically now has slown and qlds has now picked up, even better if you were to perform wraps while south oz is coming to a griding halt
[cigar]
chivatoyeah once youve picked your area in s.a and do your research you will realise that it has already boomed (its over) you will see why s.a investors are making a killing in Qlds
any real smart investor will tell you
rather than speaking on impulse
[cigar]
chivatoGambini,
You seem to be as knowledgeable of the SA/Qld markets as you are of the Victorian ones!!!
Jo
if your simply looking for cheap properties irrespective of timing with booms go buy in tasmania
s.a will always be cheaper than ther other mainland states
you want diversity try N.Territory
do some research youll seei dont deal with victorian properties so i dont claim to know them but your simply fabricating ideals of s.a being about to boom
Two words bull and you know the other like elsewhere it already has
well go on then invest in s.a
hey why dont you reciet the statistics for this half of the year
[cigar]
chivatoChill out boy!!!
I didn’t say that SA was going to boom, but the possibility for it (or any other state) is not an impossibility, and just because certain parts of it are undervalued, doesn’t mean they will remain that way. Investing in cities is always a bonus regardless of the state; sure some will perform better than others, but all in all, cities are pretty secure for anyone wanting to invest, especially if they live in the same state!!!
As for Victoria, I suggest you read your post that implied <100K properties are possible in Melbourne; your words not mine; I said it was as likely as pigs growing wings and flying south,remember???
As for the stats, you live in SA; you tell me (I don’t care one way or another).
Jo
Sorry Ma,am but you must hav me mixed up because i hav never spoke on melbourne once
i havent the slightest clue as to whats going on in melbourne
so no not my words
bye for now[biggrin]Well it was YOU who replied to the thread:
https://www.propertyinvesting.com/forum/topic/12852.html
in which you said it was never too late when it came to missing the boat. As you responded to Nadrob’s thread, and made a claim that it wasn’t too late; it is assumed you know of some deals that others who live in Melbourne may have overlooked. True, you didn’t comment directly, but perhaps you should READ people’s questions before answering other people’s replies, and to which your comments have no relevance!!!
Then again, if (as you said) it is just a generalised statement of “it is never too late to miss the boat” you need to rethink this adage, as it shows your age, and inexperience of life!!!
Finally, I see (as you also confirmed) you don’t have a clue on Melbourne market, and needless to say, I seriously doubt that know of any other for that matter. I know very little about SA, but what I have read/heard discussed about thus far, it seems clearly indicative that SA coastline properties are becoming quite sought after, which can only be a good thing can’t it???
I suggest you put a bit more thought into what you reply to; and maybe it will earn you the credibility and respect I feel you are seeking!!!
Jo
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