Home' API Magazine : August 2014 Contents and represents a 2.2 per cent drop for April and a 4.3 per cent fall
over the last 12 months.”
CHRISTIE DOWNS, SA
RENTAL YIELD: 6.0%
WEEKLY ASKING RENT: $290
MEDIAN PRICE: $250,000
DISTANCE FROM ADELAIDE CBD: 24.3 KMS
Christie Downs should benefit from the duplication of the
Southern Expressway in Adelaide’s south, according to Koulizos.
There’s some renewal occurring and the suburb is
close to Noarlunga, which is becoming a transit-oriented
“ Christie Downs is quite a large suburb,” Koulizos says.
“ Location is very important. You have Christies Beach High
School on Beach Road and a major shopping centre, known as
Colonnades, on Beach Road.”
There’s also a primary school in the suburb.
“ If you’re going to buy a house, you assume it’s for a family,”
“ I’d be buying in streets where houses are being upgraded or
government housing is being knocked down. ”
Phil McMahon Real Estate agent Gordon Costello says there
have been some strong sales in the area over the past few
months, with properties selling for around $320,000 . He says
investors are also attracted to the area because the blocks can
However, Koulizos says investors are better off buying in the
more expensive area of Christies Beach, rather than Christie
Downs, because most people prefer to be near the ocean and it’s
more likely to experience stronger capital growth.
Another problem with Christie Downs is that there’s a lot of
“ It’s fairly low quality housing,” Koulizos adds.
RENTAL YIELD: 12.2%
WEEKLY ASKING RENT: $750
MEDIAN PRICE: $320,000
DISTANCE FROM DARWIN CBD: 16 KMS
Close to Casuarina Coastal Reserve, Muirhead properties are in
high demand, but don’t be fooled. The suburb has made the list
as having an incredibly high rental yield, but Roth says that’s
simply because so many blocks of land are being sold there and
listed as ‘houses’ . He says investors would actually be lucky to
find a house for less than $750,000 . Alternatively, they might
spend about $320,000 on a block of land, then have to build a
house. So the median price of $320,000 is more likely to reflect
the median price of a block of land.
Nevertheless, Muirhead is close to Royal Darwin Hospital
and also near Henbury School, St Andrew Lutheran School and
Dripstone Middle School.
The Village Shopping Centre at Casuarina is easy to access,
along with the popular and well known Charles Darwin
University south of Brinkin.
“ It’s a new suburb and it’s being developed by the Defence
Housing Authority,” Roth explains.
“ It’s a new estate and pretty well single, residential buildings,
not multiple dwellings. There are modern houses with strict
covenants, so it’s expensive to build there.”
He admits the suburb is “a fair way out” but adds its proximity
to shopping and education facilities make it popular.
It’s also likely to attract more families and investors as they’re
priced out of the expensive inner-city ring, with Muirhead being
the more affordable option.
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