Posts Tagged ‘South Australia’

For Adelaide to become a more vibrant and sustainable city, we need to stop the urban sprawl.

Did you know that Adelaide covers the same area as London? The major difference being that London has a population of 7 Million whilst Adelaide has a population of just 1 Million.

So what does this mean for our kids…

Gone are the days that we condemn our kids to migrating to the outer suburbs, to find the cheapest block of land, or house & land package that they can afford to purchase as a first homeowner.  And in the process condemn them to owning two vehicles to commute to work and raise a family to commute to school and leasure.

At last we have a sustainable plan for Adelaide, which provides us with a direction on population and how our city will grow.

Watch this Youtube Video about Adelaide’s 30 Year Plan…

So how does the 30 Year Greater Adelaide Plan change the future for our kids… 

The first step is what is happening now with our $2 Billion Public Transport Infrastructure Upgrade.

This investment is all about improving our public transport with modern new electrified passenger trains, trams and modern buses which integrate into our train and tram network. The next step once our public transport network is upgraded, is to encourage urban consolidation along our major public transport corridors, which means we will lessen our reliance on vehicles as our sole form of transport.

How will the 30 Year Greater Adelaide Plan encourage urban consolidation?

The 30 Year Greater Adelaide Plan, announce the intention of our Government to encourage higher density housing along our major publice transport routes by relaxing Council Planning policies 800 metres either side of major public transport routes.

So if I was a Property Investor… where should I purchase property for future growth?

Obviosly 800 metres either side of the major established train and tram lines!

This story was brought to you by Raine & Horne Glenelg, your Glenelg Real Estate Agents and Glenelg Property Management Specialists.

The South Australian property market continues to go from strength to strength on the back of investor demand.

Watch this Youtube Video about Adelaide…

Kevin Magee, CEO, Raine & Horne South Australia, explained, “There is very good economic confidence among investors about the local and interstate economies. As a result our offices are fielding plenty of interstate and international enquiries – particularly from Chinese investors.”

According to the Raine & Horne SA chief, the relative affordability and stability of Adelaide’s housing prices is the cornerstone of buyer demand. “The median house price in Adelaide is still around $380,000, which typically buys a three-bedroom, two-bathroom house within 30km of the city,” said Mr Magee. “Move to within 15km of the city and in many areas $380,000 will still buy a home with three bedrooms and one bathroom.”

Mr Magee added, “The Adelaide property market has recorded just 7 falls in quarterly price growth since March 2000. Each time it’s only been a small percentage fall and it’s quickly recovered the following quarter.”

Mr Magee nominates Hope Valley as a suburban property hot spot. “Hope Valley offers first time buyers and investors quality properties on large blocks within 15km of the CBD at a rate well below the median price. In addition the area is seeing a revival with many buyers subdividing or demolishing old properties to build their ‘dream homes.’ These are exactly the type of factors that drive future price growth and lead to good long term capital return. It’s not surprising to see this area has achieved average annual median price growth of 12% for the last nine years. To find out more about the property market in Adelaide’s north east, contact Raine & Horne North East on 08 8395 2233 .

Gawler is the gateway to the Barossa Valley and is attracting those buyers looking for a lifestyle change or a home with a country town feel. “There is a nice mix of housing – from heritage, to very modern properties and cafes in Gawler,” explained Mr Magee. “Gawler is somewhere where people can choose to live in a rural country town, but still work in the northern part of Adelaide at Technology Park or Edinburgh. For more on Gawler, contact Raine & Horne Gawler on 08 8522 2777.

It’s famous for tuna fishing, but Mr Magee says Port Lincoln is attracting home buyer attention. In fact, Raine & Horne Port Lincoln’s Steve Prout recently sold six brand new townhouses off the plan to interstate investors within a week. “And they were sold sight unseen,” said Mr Magee.
Port Lincoln is a day’s drive from Adelaide, but it’s an area that is moving ahead in leaps and bounds, and investors are well aware the town is a designated area for people returning from jobs in the Iron Triangle region.

“When workers with young families leave the mining towns, they tend to prefer coastal towns such as Port Lincoln, Whyalla or Kangaroo Island to a suburb in Adelaide,” explained Mr Magee. “The coastal towns provide the intoxicating mix of a country lifestyle and good schooling.”

This article is brought to you by Raine & Horne Glenelg, your Glenelg Property Management and Glenelg Real Estate Specialists.

One of the most common questions asked when you first become a landlord is – “Is it worth taking out Residential Building Insurance as well as well as taking out Landlord Insurance?”

See this Youtube Video and then ….read about Landlord Insurance incidents by Amber Cauchi, Claims Officer for Terri Scheer Insurance

Amber Cauchi, Claims Officer for Terri Scheer Insurance strongly believes so; “after seeing the many claims for catastrophic damage that could never been foreseen – it seems that Building Insurance is worth its weight in gold for Landlords”.

 Taking out Building Insurance on your investment property will ensure that you can sleep at night with peace of mind that your investment property Is properly insured in the event of major damage.

“One example Is a recent house fire which started in an air conditioner situated on the roof. What seemed initially as a minor fire localised to the air condition unit itself, soon spread rapidly into the roofing cavity. This caused damage to the roof tiles, eaves, structural beams, ceilings and even structural walls throughout the property”.

Ms Cauchi went on to say “assessors, structural engineers and builders were all appointed to assess the damage and costs incurred. The damage requiring repairs included structural damage and cracked internal brickwork – due to the extreme heat, as well as smoke damaged walls, kitchen cabinets and appliances. The costs soon grew, far exceeding initial estimates”.

“With just under $200,000 building damage, $20,000 contents damage and $10,000 loss of rent, the owners converted what could have been a major economic loss, into one which was covered entirely by insurance. Peace of mind in such a stressful and emotional time after such a huge loss could be considered priceless”.

This article was brought to you by Terri Scheer Insurance.

For all of your Glenelg Property Management needs Call Monika Bonet at Raine & Horne Glenelg on 8376 8844 – We’ll Look After You.

House prices are rising rapidly in line with the strength of the South Australian economy

Somerton Park records a massive 35.64 per cent growth last year

Adelaide home price median rises to $382,000. Adelaide house prices have risen by more than 6 per cent in the past year and further strong growth is forecast for the year ahead.

Official Valuer-General figures, released, reveal the metropolitan median price rose 6.25 per cent to $382,500 in the December quarter 2009, compared to the same period in 2008.

Across the state the improvement was almost as dramatic, with a 5.77 per cent increase to $352,000. A year ago, the annual increases were only 1.4 per cent for the Adelaide metropolitan area and 4 per cent for the state as a whole.

The latest results impressed Real Estate Institute of SA, who said the figures were particularly promising given the Federal Government’s First Home Owners Boost was halved during the December quarter.

A statement released by REISA said; “this clearly demonstrates the faith people have in investing in bricks and mortar, and the reliability of the property market in Adelaide and South Australia,” he said.

“It gives us plenty of confidence that the property market will continue to grow now the boost has finished and we have reverted back to the existing $11,000 grants for established homes.

“People will still continue to enter the property market because they know it is a good investment, not because they get a one-off cash bonus.”

Somerton Park topped the list with massive growth of 35.64 per cent on last year.

The list was based on suburbs with 10 or more sales in the quarter.

It was followed by Broadview (28.42 per cent) and Willaston (22.37 per cent).

Western suburbs Clarence Gardens and Dover Gardens, and Burton in Adelaide’s north, also made the list, increasing by 22.21 per cent, 21.93 per cent and 21.57 per cent respectively.

Describing Somerton Park as “ideal for families”, Raine & Horne Glenelg Principal said Someton Park had benefited from the price rises of neighbouring Glenelg.

“I think people have realised that Somerton Park has been a bit of a hidden secret for a little while,” she said.

“A lot of people try to go to Glenelg but because Glenelg has gone up so much people have started to look further a field, which has resulted in price rises hitting the adjacent beachside suburbs.

“The beaches and the Somerton Life Saving Cluyb cafe on the beach, makes sunset there absolutely gorgeous, and because Somerton beach is not as well-known as Glenelg it’s less busy.”

Monika Bonet is the Principal of Raine & Horne Glenelg, your Glenelg Real Estate Agent and Glenelg Property Management expert.

First impressions are critical when a prospective tenant inspects your property.

First, decide what sort of tenant you are targeting.

There are tenants who want to save money and are happy to live in a property that is not in first class condition. There are others, such as professional people, who are happy to pay top rent, but expect the property to present at its absolute best.

There is no doubt that well presented properties achieve top rents and usually attract the best quality tenants. That adds up to a higher investment return, together with fewer and shorter vacancy periods.

Here are some valuable property presentation tips

1. Tend the gardens, mow the lawns and clean the windows, paths, gutters and outside paintwork. These are all things seen from the street, and you don’t want prospective tenants to dismiss the property before getting to the front door.
2. Repair or replace leaking taps, sticking doors, broken light fittings, loose door handles, rotten floor boards, leaky gutters and torn flyscreens.
3. If you are thinking about painting, only paint those areas that really need it unless you plan on doing the lot. New paint may only make those areas left unpainted look even shabbier. Use light, neutral colours as strong colours may not be to the tenant’s taste. If paint is generally in good condition, touch up the scruffy bits.
4. If your property is in a noisy area (such as a main road) inspection times should occur when the noise is at its lowest.
5. Get rid of odours that you may not notice but prospective tenants will, such as cigarette or pet smells. It may be worth having the carpets and curtains cleaned, neither of which is very expensive.
6. Open the curtains and blinds to let the sun and the view inside. Nobody likes a dark house, and the view will make the rooms feel bigger.
7. Have the property clean, tidy and uncluttered at inspection times.
8. If your property has a pool, ensure the pool and the surrounds are sparkling clean. You want the prospective tenants to think it is an asset, not a burden. If the filter or the pool needs professional repairs, it is better to do it now rather than putting it off. The repairs are usually tax deductible.
9. Ensure that all electrical wiring and power points are safe. This includes any electrical appliances to be included with the property.
10. Take out comprehensive insurance cover on the property (including public liability). You don’t want to be sued by a prospective tenant who accidentally injures themselves while inspecting the property.

This Newsletter Article was brought to you by Raine & Horne Glenelg - your Glenelg Real Estate Agent and Property Manager.

Are you a tired burned out Landlord – looking for some options… read more

A: An expertly completed renovation can add considerable value to your home. Yet with restrictions such as time and money, deciding where to start is a common issue for homeowners.

In terms of resale value – as well as everyday use – the kitchen and bathroom are generally considered the most important rooms. In fact, a recent Housing Industry Association (HIA) Kitchens and Bathrooms Report said the majority of consumers sought practicality and elegance from kitchen and bathroom renovations. 

However, the kitchen is generally regard­ed the home’s focal point and is therefore usually the best place to start. But be warned, a major kitchen refurbishment could be costly and complex, given it generally involves plumbing, cabinetry, design and electrical components. If cash is tight, then a coat of paint, some new lighting or bench tops can kick-start a relatively inexpensive kitchen overhaul. 

Bathroom renovations can range from respraying the enamel on the tiles, to a re-tile (expect to pay a few thousand dollars), to eliminating mould, adding a new shower screen or switching the elderly bathtub for a sprightly spa. 

This story was brought to you by Raine & Horne Glenelg – Your Glenelg Real Estate Agents and Glenelg Property Management Experts – We’ll look after You.

Return to Raine & Horne Glenelg Website

Check out all the defence and construction jobs in Adelaide … (forget about reading this in the local rags won’t print this good news story as they only sell papers off doom & gloom stories).  

 You just can’t deny the jobs coming off all of the major projects kicking off in South Australia, right now.

 

This story was brought to you by Raine & Horne Glenelg – Your Glenelg Real Estate Agents and Glenelg Property Management Experts – We’ll look after You.

Return to Raine & Horne Glenelg Website