All Topics / General Property / South Australia or Western Australia properties
- StevenParticipant@steven1982Join Date: 2017Post Count: 189
To those who are experienced and know about SA and / or WA market.
I am trying to identify the right areas for me to look at in SA and / or WA. No need to pin-point exact but want to know general area to look into.
Reason why I am finding it a bit tricky is because, unlike VIC or NSW, where the market pattern is somewhat clear (that is, the pattern is pretty much a few years of steady – not necessarily huge, but steady — growth, followed by a slow / stagnate market or a correction period, followed by another a few years of steady growth, and the cycle repeats).
But I am struggling to find a clear pattern for SA or WA.
For SA, a lot of the places I look at, have 0 growth for the past 10 years, but they really took off during the Pandemic, but I am concerned if the growth is purely due to Pandemic and no other good reasons, then growth will stop once Pandemic is over. Alternatively, areas close to Adelaide CBD does show consistent growth over time, but the prices are average 1 million, and numbers just don’t work for my strategy.
For WA, the growth just fluctuates too much, that is exponential growth, but exponential crash as well.
What I am looking for:
Purchasing price somewhere in 300-400K or 500K is OK as well if need to be, but don’t want to go beyond 600K unless absolutely necessary.
Growth: not necessarily huge growth by itself, but something that I can renovate for profit
Rental yield: I need gross yield to be at least 6% or higher. With interest rates rising on the horizon, I may need this to be higher than the basic 6% that I am using currently.
I have invested in VIC for the past 2-3 years (primarily in regional cities, not in Melbourne Metro) and managed to move onto a few IPs, and now it is time to look inter-state, and looking for ideas to what suburbs to pay attention to or which regional cities to pay attention to.
- This topic was modified 1 year, 3 months ago by Steven.
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