Want a profitable area to renovate? Take a look at Port Noarlunga with the Property Professor

Port Noarlunga is just over 30 kms from the CBD.  It’s a fair way from the CBD in Adelaide terms, but it’s right on the beach and what a beautiful beach it is.  You’ve got an aquatic reserve, you’ve got a reef, you’ve got surf beaches, very popular beach, how do I know.  As a young kid our parents would take us down there, because it was perceived to be such a lovely beach and it still is also very popular with divers.  Many fish in and around that reef.  
So far as housing is concerned, as the name suggests it was an old port.  So there are a lot of old houses, the reason I mention that, is that character houses or old houses are the best type of houses to renovate.  So if you are keen on renovation, then I would be looking at the older style homes in Port Noarlunga.  
Port Noarlunga is a classic example of an area that’s through the gentrification process.  In the old days it was a down and out blue collar type of area.  Pubs where there would be fellows in their blue singlets, drinking the local beer and eating chips and peanuts out of the packet.   Now you drive past the pub, much more upmarket, the beer they are drinking out of the bottle is Corona, it’s not local beer and they are dipping their bit of bread into their [tapas].  So certainly the demographic in the area has changed.
Why buy in this suburb?
The reasons you should consider buying in Port Noarlunga.  Very cheap seaside suburb.  Adelaide’s median house price is around $410,000 at the moment, Port Noarlunga’s median house price is only $340,000 and you are at a beautiful beachside suburb.  Very good renovation opportunities, because of the abundance of character homes in the area and outstanding development opportunities.  Council has just rezoned the area and you are able to build on a 150 sq.mtrs.  So in theory you could buy yourself a 750 sq.mtrs. block and build 5 units on them.  So some great renovation opportunities and even better development opportunities.
Best streets to buy in
Best parts of Port Noarlunga to buy in, the closer you are to the beach, the better off you are going to be, a view of the water is also ideal and it’s not just the sea, but also the Onkaparinga River is on the boundary of Port Noarlunga and there are opportunities for you off the Onkaparinga river basin which is also a big plus and proximity to the Port Noarlunga village, which is where a lot of the cafes and the restaurants and the bakeries or the shops are concentrated on.  So they would be in particular the parts of Port Noarlunga that I would be focusing on.
Streets to avoid
The areas to avoid.  Main Road is Dyson Road, very busy, don’t buy any residential property there and also there is a part of Murray Road which is also quite busy, so I would be avoiding those two streets in particular.
Stay tuned for more updates or join us on Facebook and access exclusive full-length videos and send us your questions! https://www.facebook.com/YourInvestmentProperty

Your Investment Property Video brings you closer to the industry's most influential leaders and thinkers.
Click on the videos below to watch the interviews.