Hi, i’ve been looking for a investment property on the coast in the southern suburbs of Adelaide. Its now impossible to find a positive cashflow property in this area but the prices have gone up alot and they still look to be going up. i’ve found a house near the beach for 150k and its rented for 170pw. its a cheap house for the area but im not sure wether i want to purchase it or not. if any 1 has some advice or info on the area it would be greatley appreciated.
thanks
BrettBrett,
Christies has had a poor name in the past, and is known as a high crime rate area, hence it is affordable coastal property.
In saying that it has the potential for solid capital growth as Adelaide has been hit by the “sea change” trend. It depends if you are prepared to accept a negative cashflow position for the sake of long term capital growth.
Just insure that you are not paying too much much for the property (have it independantly valued) as there has been some “silly prices” paid for very average homes.
Cheers,
Battz
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