Hi guys,
My wife and I are looking at a few coastal properties in SA. We've looked at properties from Semaphore, Semaphore South, West Lakes, Tennyson, Henly Beach, down to Glenelg, Glenelg South, to Hove and Brighton.
There are some lovely properties available, but we wish to buys something an later rent out until we wish to move back to SA (we are in Sydney at the moment).
Just wondering if any of you guys was looking at similar areas and what your views were?
We heard positive feedback about Semaphore, with decent opportunity to rent out later, but was unsure about Semaphore South/Park (I would have thought opportunity would be the same, but price suggests otherwise).
Does anybody have any views or opinions about these areas?
Hope to hear back!
Semaphore and Port Adelaide are Great, so is Hallet Cove if you want to go South. I have a newsletter written by Peter Koulizos (the property professor!) regarding his views on the top ten suburbs of Adelaide. Please email me if you want me to send it or you can download it from our website (below).
Thanks Xenia. Just downloaded your newletter; very interesting reading. Would you suggest that there are any differences between Semaphore, Semaphore Park and Semaphore South?
We are also considering a new apartment at the Marina Cove development (completing Sept 2008). Would you be able to share any opinion on the developments at the Port, and prospective rents?
Would be great to speak with you and your team at some stage, especially regarding property management in Adelaide.
Hi Dougie,
Semaphore is closer to the beach and I think may have more growth potential. Everyone has a different investment strategy, as a rule I don't buy new appartments or townhouses from developers, I like houses where I can "value add" and increase equity. I like free standing older houses on larger blocks that have the potential to be subdivided or renovated. There is nothing to do in newer houses and all the profits have been taken out by the developer. Only time can increase it's value if the market is moving upwards, it's out of your control.
We have done several rent appraisals for the newport quays at Port Adelaide and they have come in at around $600 to $700 per week for 3 bedroom appartments and around $400 to $500 per week for 2 bedroom. Please keep in mind that statistics had to come from Glenelg and similar suburbs and no precidence has been set for Port Adelaide yet because they are currently unfinished.
Please feel free to ring or email us at any time. Details on our website
You must be logged in to reply to this topic. If you don't have an account, you can register here.
