Investment Suburb Profile: Ethelton with the Property Professor

Ethelton is a suburb in Adelaide.  It’s about 14 ks from the CBD, but only 1 k from the beach.  Ethelton is a typical portside suburb.  So Ethelton was full of people that worked at the local port of Adelaide and so therefore the houses are not generally the best quality and relatively small in size.  As the area has come up, as it has become more gentrified which means old becoming new, it is becoming much more in demand with people that want to live there and also investors have their eye on it because of the development opportunities.
So the homes in Ethelton often not brick and stone.  Sometimes corrugated iron walls, sometimes timber frame, but the beauty about those homes is most of them are character homes and people would pay a premium for character homes.  Whether they are renovated or unrenovated, doesn’t matter.  If you can renovate them then they certainly pay a huge premium.  Ethelton is only a relatively small suburb.  It’s got a train station, so access into the city is pretty good and also walking distance to the beach.
Why buy in this suburb?
Reasons you should buy in Ethelton, renovation opportunities are plentiful.  Pick yourself one of the character homes, fix it up, people will certainly pay you either more rent or more when the time comes to sell than when it wasn’t renovated.  But the key there is a character home and a character home in Adelaide we are talking about bungalows, villas or cottages.  Anything that was built really before World War II is what we would call character homes.  
The old port of Adelaide is being redeveloped into Newport Quays, so what used to be a run down area that nobody wanted to go to, in years to come will be an area that people do want to live near and shop at.  Similar examples that I could give you in the state on a smaller scale would be say Darling Harbour, you know a run down area 20 - 30 years ago, but now very popular or Freemantle in Perth or Port Melbourne in Melbourne. 
All of these areas were down and out before they were gentrified, but since they have been gentrified, you can pay a lot of money to live either in or near these areas.  So suburbs around Newport Quays are certainly set to go ahead in leaps and bounds, because of its proximity to Newport Quays and the fact that it’s only 1 kilometre from the beach and Semaphore Road which is a very popular [edge] street, it’s almost like a King street, Newtown in Adelaide is walking distance.  
Development opportunities, the council area allows new dwellings on as little as 250 sq.mtrs.  So in theory you could buy yourself a 750 sq. mtr. block and develop 3 units, because many of the houses there are just going for land value, so there are some great opportunities in Ethelton.
Best streets to buy in
The areas to focus on, the closer you can get to Newport Quays the better you are going to be.
Streets to avoid
Areas to avoid, main road is Causeway Road and the train line runs along Causeway Road, so you want to avoid living on or buying too close to Causeway Road.
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