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Peter Koulizos takes a look at investing in the seemingly affordable South Australian suburb of Largs North. Featured on realestate.com.au.
Overview
Largs North is approximately 16 km from the Adelaide CBD. It is situated on the Le Fevre Peninsula which is bordered by the sea and the Port River. It is a working class area which is full of conventional homes. The nicer character homes are concentrated near the sea and in the southern section, adjacent Largs Bay.
The nearest shopping precincts are in adjacent Largs Bay and Taperoo, as are the nearest schools. The Largs North Kindergarten is in Kybonga Tce. The Outer Harbour train line runs through the middle of Largs North. There are two stations in this suburb, Largs North and Draper. The Largs North Oval on Victoria Rd is well used by the local community. There is a relatively new residential subdivision on the east side of Victoria Rd.
Why you should buy here
- One of the cheapest sea side suburbs in Adelaide.
- There will be a positive ripple effect from the $2 billion redevelopment of the port of Adelaide, known as New Port Quays.
- The defence industry is set to expand in South Australia. Two of the most important defence projects are based less than 2km from here; they are the Australian Submarine Corporation and the Techport Australia Naval & Defence Industry Hub. These projects will include the building of a number of submarines and destroyers, totaling more than $10 billion.
- There are redevelopment opportunities east of Military Rd as you only need 250 square metres per new dwelling. There are many new homes being built and this trend is set to continue.
- Many of the houses in Largs North are quite old and in need of tender loving care, therefore there are some good opportunities to value add through renovating. Renovating activity in this suburb is slow but will speed up as more and more people appreciate the benefits of living in a character home, so close to the beach.
Areas to focus on
The closer you are to the beach, the better off you will be, especially beach side of Military Rd. If possible, stay beach side of the railway line.
Areas to avoid
Stay clear of the established housing precinct on the east side of Victoria Road as this is adjacent the heavily industrialized precinct and is not very appealing.
Happy House Hunting!
• Written by Peter Koulizos, university lecturer, author and property advocate.
