Hi ya
Anyone know anything about this place? I have some land there at present but i am confused at the cheapness of the place. It's a beautiful place as I remember.
Cheers
Mikey PCheap is relative.
There are plenty of cheap places to buy in Aus, but many are not worth looking at due to other factors.
I would be more concerned about the numbers:
What is the rent demand and return, the vacancy rates, the prospects for cap growth (job opportunities, infrastructure, population growth), outgoings (if there was a building), can you get Property Management , repairmen, are there services such as water, gas, public transport, cost of building etc.Hi, KI is beautiful for a holiday home. For comparison, my sister wanted to buy a house on the beach at Penneshaw in 1988. It was $26000. A comparable beachside house in Adelaide then would be around $70000.
KI has an accessibility factor to be concerned about. You drive one hour to Cape Jervis, then cross by ferry. You probably need to carry your own water from the mainland though I'm not sure about this.
Having said this, I myself had always toyed with the idea of buying a property there.
Good luck with your land,
Kum YinI went to SA last week. Thought I'd go across to the Island. What fantastic real estate!!!
There are alot of investors there buying at the moment. Ask the agents on the island. I bought some more land there as well….interesting place to say the least.
Cheers
Mikey PGetting there 8 ferries per day 8 flights go there per day. All services are there. Major commerce centre is Kingscote population over 2000. penneshaw pub is being renovated $2m on internal only. kerry Stokes and james packer have land there also. Vivonne beach was voted the best beach in australia.
mikey phi i am new to the forum and have only recently started my property investing career.
I started in SA and am looking for anyone els who is very familiar with the SA market.
FYI i have invested in Elizabeth and Plympton thus far.
Hi JeeloB, I also started in SA and have 1 in Hallet Cove, 1 in Greenwith and am building one in Munno Para West. Am now looking for no. 4, maybe another in Southern Suburbs.
dvs1962dvs
I also looked down south.
Generally i thought the houses down there were in better condition then the northern suburbs. However the rental return out north is not much different to the south and the houses are significantly cheaper in the north. confused?
I am interested in your property in Munno Para would you care to explain?
Guys
I reckon you're spot on.
Anything around sellicks south is unbelievable value. Don't be scared of Myponga, Normanville or even second valley all worth a look beachside towns all within an hour of CBD Adelaide and well below repacement cost "on what could be the eve of the SA real estate boom".
I am not endorsing these places but I am investing in Myponga at present. "The saddest words of tounge or pen are it might have been"
Mikey PHi Mikey,
I reckon you're spot on about KI . I have family there and have watched land /house prices for a few years but have only been able to afford to buy in the last couple of years. Very cheap I believe and the ocean frontage is sensational! Seems to have good returns for short term accomodation homes. if anyone has been there @ xmas time you would know that accommodation is at a premium. I will be buying another asap but maybe I am biased!!!
Good luck
Sikdad
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