Hey ppl,
Im a new user(again) havent been here for a while(couple of years) but I hope to be quite active.My query, I have a few IP's(all neg cashflow). Im looking now into higher yield rentals in future growth areas(arent we all). My research keeps leading me to SA. Is anyone else getting this?
There seems to be a lot activity planned as far as mining goes(in regional SA), from gas, diamonds to a 4th uranium mine(honeymoon) given the all clear to start mining.
As far as prices go, adelaide is cheaper than most other capital cities, the surrounding smaller towns also seem to be very well priced(<150k).Given the given the low cost of housing, the large quantity of future mining planned in varying industries does this = better growth?
Will regional SA start to boom from here with flow-on effects to the ports and adelaide on the south coast?
any thoughts or opinions??
I have found a town that i wish to invest in, i just wanted to get any thoughts from you guys. any advice would be great!Regards
Mick
sorry also,
annual rates are much cheaper than what I have experienced previously…….. compared to QLD anyway(location of my IPs).thanks
Hi Mick,
in a similar situation, though have only just started in property investing with one IP in Qld at present. Have also been looking at expanding through higher return properties, it also seems to me that with the planned expansion of the SA mining industry, coupled with lower prices and good returns that SA is hard too look past. However I also note that population growth is not exactly huge there, and in adelaide at least i have read reports of there being excess stock, althought this doesnt seem to be reflected in the vacancy rate. Any other thoughts would be appreciated from others perhaps more familiar with the SA market
JudeWe only buy in SA. The website below may be useful to you.
http://www.creativerealestatesolutions.com.au/cgi-bin/page.cgi?id=112
WOW!
thankyou so much! that site is really helpful!
I just wonder how long it will take to gain some momentum.
I was speaking to an agent this week in a town outside of adelaide and queried the mining potential for the area. She said there was some but she had been waiting 20 years and still only talk of action,
but i think given obvious booms in other states and SA's potential – it may be soon. This may be a no -brainer.Im starting to get excited again about investment properties!
Regards
MickThe mining got the go ahead by the liberal party yesterday.
Just in our very small office, we are begining to see properties being sold after one open inspection. Lots of keen buyers around which to me is an indication that the market is heating up.
We have recently also had an influx of interstate landlords buying in Adelaide.Our agency is very small compared to some of the big franchises, but it does provide some indication of where the market is currently heading.
Hi Xenia, can I talk to you sometime regarding rent to own options? I'm looking to lease 4-5 courtyard homes. 4 are almost at lock-up. One has sub-division approval & building will probably commence in August.
Cheers,
Kum Yin
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