澳洲Australia property Munno Para Sydney

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Hello all An investment company has suggested a house and land package to us for our first investment It is in Munno Para, South Australia Historically, Munno Para wasn't a highly regarded suburb, however, I wondered whether anyone knows about how property has performed up there over the years Thanks
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Prices have increased there over time, however I wouldn't say it has outperformed any other part of Adelaide I would be very concerned about Munno Para's future capital gain (CG) opportunities with the HUGE land releases which have been put into motion for the next decades This will temper any demand for the foreseeable future and could potentially put a lid on prices Without CG prospects and pretty average cash flow, I'd be asking where the benefit of MP over other areas is Be sure to check pricing with investment companies offering Hamp;L compared to buying and building, or picking up your own Hamp;L package There are a lot of companies which flog off overpriced investments, and hide this throughout the process by the usage of in-house brokers, accountants etc
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Heard a while back that Munno Para West, Blakes Crossing, Blakeview etc have a massive oversupply of rental properties, hence making it hard to obtain good tennants A quick check of Realestatecom shows 134 houses for rent in Munno Para West Never checked the other nearby suburbs http:wwwrealestatecomaurentproperty-house-in-munno+para+west,+sa+5115;+list-1 Agree with Jim and CJay -there are other areas with better prospects Stangman
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Actually another good point I've had a number of agents telling me it is difficult to get tenants in, and there is a high number who break lease Youngin's moving out to shiny new homes until the first set of bills come in This isn't necessarily meaning huge amounts of empty houses, but longer vacancies and a tempering of rents Haven't noticed much of a pick up in rental prices there to be honest, with Elizabeth catching up to the price as a new build there!
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Thank you for your replies Really grateful for that information They're selling these houses to us from the angle of Edinburgh base set to receive up to 1200 troops who'll need somewhere to live That's the only reason I was interested in the first place Thanks again
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doesnt this mean that in the short term your 2nd hand properties might not increase as much because of the shiny new property next door on half the size of land, BUT the developers have moved in to increase activity in the area whilst you get a better tenant in the new properties or owner occupiers, thus setting yourself up for a good rise since now you have double the land in an area that is more desirable then the past thats the way I see it
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TMNY, The Munno Para WestAndrews Farm etc isn't exactly an old area, it's a relatively new development from the last 10 years, on small blocks (300-400sqm usually) The area north and west of the development is agricultural SA govt has now shown development will increase FURTHER into the agricultural areas further than before I get told all the time by agents how difficult it is to sell in the area, when you can build your own cookie cutter house for the same or less, why buy something 4-5 years old with wear and tear, not to your spec etc The area will take decades to have supply issues, if ever Then there is all the redevelopment south of the area, which caters for more supply http:wwwadelaidenowcomaurealenorthern-suburbsstory-fndbnymu-1226652183253
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Did you pay the quot;investment companyquot; for the advice (I guess you could expect to pay $2k to $3k for a properly developed investment strategy tailored to your needs) If you didn't then guess who they are working for Get your own independent advice too much money is at stake All the best, Paul
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thanks cjay great answer, what would your response be if the suburb in question was elizabeth or surrounds where the blocks are generalyl bigger at 600-800sqm, and most of the properties are established and there is not much land avaialbe to spread out into
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Elizabeth suburbs are next to munno para so they fall into the same category If you search long enough and find one for a old deal they can get good yields I have one that gives over 8%
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I met up with one such company earlier in the week Half way into the conversation,I wanted to run away
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As Joey said Elizabeth won't quite have the supply restraints to cause massive uplift at this time, however it does have the benefit of having ALL of the infrastructure and amenities to service the entire district This with the redevelopment will cause enough uplift Yields on current prices are attractive enough of an investment to worry about speculative purchasing alokahuja: At least your warning bells kicked in
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