Hello there, looking to broaden location of investments and need advice.
I know Margaret Lomas is a big fan of the northern suburbs of Adelaide. I understand that transport infrastrcture has certainly made this area more accessible to the CBD and therefore far more desirable but does anyone have an opinion on how far out to go? I have been looking at some 4 bedda's in Davoren Park (I know dodgey but looking at it as long term prospect) Strategy is to buy 4 bedda (less supply rental wise) on a corner allotment of a size open to development into units at a later date. My question is one of location. Am I better using this strategy (if at all) in a location closer to the CBD (maybe salisbury/elizabeth/brahma lodge) and therefore probably spending a little more?
Any opinions from investors with knowledge of Adelaide, especially northern suburbs would be greatly appreciated. Thank youHi AMitchell.
Adelaide's complexity and demographics are changing fast. We have just recently had our $700 Million Northen Expressway, that takes you from slightly north of Gepps Cross (off Pt Wakefield Rd) out to the Barossa. People no longer need to travel up Main North Rd to get to areas like Gawler, Willaston and beyond. There are also 'fringe' suburbs of Elizabeth (Playford Council) and Salisbury (Salisbury Council) that are now adjacent to the Expressway. Areas such as Virginia, Two Wells and so on now represent excellent buying as Adelaidians haven't had time to get used to the idea that it is now quicker from Adelaide Cbd to say Gawler up the Northern Expressway than it is from CBD to Elizabeth (travelling Main North Rd). May I suggest you avail yourself of a map that shows the Northern Expressway and research some of the suburbs in Playford and Salisbury Councils that are adjacent to the Expressway? Also, I have lived over 21 years in Adelaides northern suburbs and would avoid Davoren Park like the plague – it's ok if you're into buying low end ex-SA Housing Trust duplex's but it's another to invest into 4 bedroom H&L. Davy Park just has a terrible name and stigma for alot of Sth Aussie's.
I hope this has been of benefit to you,Quick addition to last post.
Have you considered Adelaide's southern suburbs?
The SA Govt is now widening the Southern Expressway (making it 2 way), the train line is now being extended all the way to Seaford and there are huge levels of expenditure on infrastructure down south. Port Noarlunga is presently the single fastest growing area in Adelaide at around 11% and, for example, you can buy brand new 4 bedroom H&L in say Seaford that is 2-3 minutes from the cleanest beaches in Australia (Port Noarlunga Beach was voted the cleanest beach in all of Australia for 2010) for under $350K. I buy my Adelaide IP's in the south so I practice what I preach. At the very least, do your due diligence and feasability study on Adealide's south as well because property is moving again down there and the Onkaparinga Council estimates an influx of at 20,000+ more new residents over the next 10 years.
I hope this was also of benefit to you.ALF1 wrote:Quick addition to last post.
Have you considered Adelaide's southern suburbs?
The SA Govt is now widening the Southern Expressway (making it 2 way), the train line is now being extended all the way to Seaford and there are huge levels of expenditure on infrastructure down south. Port Noarlunga is presently the single fastest growing area in Adelaide at around 11% and, for example, you can buy brand new 4 bedroom H&L in say Seaford that is 2-3 minutes from the cleanest beaches in Australia (Port Noarlunga Beach was voted the cleanest beach in all of Australia for 2010) for under $350K. I buy my Adelaide IP's in the south so I practice what I preach. At the very least, do your due diligence and feasability study on Adealide's south as well because property is moving again down there and the Onkaparinga Council estimates an influx of at 20,000+ more new residents over the next 10 years.
I hope this was also of benefit to you.Thank you for your advice. Legal and Finance rings bells. Are you buyers agents? If so we might need to have a chat. Will check out your website.
G'day AMitchell.
Yes, Australian Legal & Finance are Buyer's Agents and please feel free to checkout our new website!
Kind regards,
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