14 Burstock Street Elizabeth Park
DISCOVER OUR METHODS
HOW DO WE SELECT OUR MARKETS?
Targeting locations which will grow in value by understanding what these push and pull factors are, when they will occur and how long they are due to last is what allows us to make assumptions for strong market growth.
Our methodology aligns with a number of different driving factors. Some of these include government funding, economic uplifting projects, infrastructure introduction, flanking market affects and more. However, the underlying factors comes down to a couple of basic principals, supply and demand from population movement and demographic demand.
In proud partnership with Australia's top property economists. We formulate specific data reports based on our client's requirements and the markets we shop in. Our partners have been awarded the Innovation Patent Housing Market Prediction Solution, which predicts housing price changes at suburb level up to ten years into the future.
The City of Playford is located in Adelaide’s outer northern suburbs, about 30 kilometres from the Adelaide CBD.
It is a rural and growing urban area, with some industrial and commercial areas. The City encompasses a total land area of 346 square kilometres. Rural land is located mainly in the east, north and west, and is used largely for market gardens, orchards, vineyards, horse studs and hobby farms.
Medium-scale projects generate thousands of jobs, driving the economy forward through 2020 and beyond.
Economic development activities have buoyed the property market – rents are rising, yields are good and vacancy rates are extremely low, providing opportunities for entry-level investors attracted by the affordable house prices and high rental returns.
Market Performance Over 1 Year
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Long Term Financial Plan
The City of Playford’s Long Term Financial Plan (LTFP) ensures
Council can deliver services, maintain assets and achieve its
strategic objectives in a financially sustainable manner.
Economic Development Strategy
The City of Playford has large amounts of infrastructure projects in place to support economic growth
Economic Profile
The City of Playford's economic profile presents economic information that enables you to describe the area's role within the broader economy, explore options for economic development.
ELIZABETH PARK 5113
Market Conditions
32.2% median market growth in 1 year
The markets movement over the past year, paired with supportive driving data shows us there is good growth to come.
The current rental yield in the market is 6.37%
As we are looking for a positively geared property, yielding will need to be considered. We can expect this to rise due to the supporting data.
-3.26% vendor discounting shows us an understanding of the market's performance
As properties begin to grow in value, vendors are realising the interest in the market and discounting less and negotiations begin to tighten up.
Days on market have reduced since March 2021 by -8.8% to 31 days.
A reduction in days on markets indicates that pent up demand is causing property in the areas to sell at vendors expectations, which empowers the local property economy.
The number of new listings has increased by 15.6% in the last year
The increase of new listings coming onto onto the market shows that vendors are wanting a piece of the action and are willing to gauge the market.
Stock on market has increased by 2.4% over the last year
As vendors begin to realise the markets potential, savvy owners are putting their properties on the market to get in on the action. This is expected to turn in the next 4 to 6 month as values rise.
Economically influencing projects
OUR SUGGESTED PROPERTY
14 Burstock Street Elizabeth Park SA 5113
Property details
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Asking Price
Target Price
Potential Rent
Potential Yield
$345,000
$400,000
$370 p/w
4.81% Gross
Where is this Property?
ComparAtive properties
What should i know about this property?
Are there easements on the property?
easements on the property are acceptable
EASEMENT MAP
Easements are areas which need to be accessible by council or anyone with a right to access a portion or part of land. An easement could be related to sewage piping, gas lines or electrical works.
Is the property located in a flood zone?
The property does not fall within flood lines.
FLOODZONE MAP
Flood zones can be determined from river flood lines. In areas where the terrain is fairly flat and river banks overflow, properties which fall within these catchments may warrant higher insurance costs.
Is the property correctly zoned?
Development Zone: Residential
Building and council regulation states that the dwelling on top of the land needs to be classified correctly for the type of structure that it is.
Is the property in adequate condition?
YES, please see the photos in the listing
In communications with the listing agent, he/she has confirmed the condition of the property is as the listing shows. This will be verified by our team in the steps moving forward.
What are the council rates for the property?
Approximately $2,100 yearly
Council rates are paid by the owners and fund council work and operations. Generally, the smaller the population and larger the council, the higher the fee is.
What is the cost for building insurance?
Approximately $1,300 per year
In most states, building and landlord insurance is required to by the buyer one the property’s contract has been signed and exchanged. The fee above is an average for the building insurance only.
How many days has this property been on market?
This property was listed on 2/3/22
There are 3 types of listing stages:
On-market, this is found on major portals
Off-market, this is for sale, but with the listing agency only
Pre-market, this has been presented to us outside of the public
When was the property Built?
The property was built in 1971
The build year should be considered when purchasing properties of different structure types. The price of the property can be reflective of the build year vs the structure type. Some structure types age better than others. At a certain price point, it is worth remembering that land is the appreciating asset, while the dwelling is the depreciating asset.
Is the property leased, if so until when?
PROPERTY IS OCCUPIED BY THE OWNER
Tenure renewals dates need to be considered in rising markets. If the market is rising, your ability to increase rental rates will only be possible at the time the tenants lease period renews.
What are the lease rates associated?
CAN BE RENTED FOR $370 per week
Lease renewal rates cannot be changed inside of lease periods, for the benefit of the tenant.
ALL FUNDS ASSOCIATED
finance disclaimer
The information below is general and not specific to your personal circumstances and finance structures. The costs, return and results are approximate figures and not relative to particular or specific management agencies, inspectors, insurance companies etc.
