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Hallett Cove offers investors potential plus by the South Australian coast. The Property Professor takes a closer look.
Median House Price – $396,000
Median Unit Price – $315,000
By Adelaide standards, Hallett Cove is not close to the city but it is a coastal sea side suburb, approximately 20km from the city centre.
Unlike most Adelaide beach suburbs, you are able to buy properties away from the beach front and still get sea views as the suburb is quite hilly.
It is an area that was originally developed in the 1970’s for young families looking for affordable housing. Flats and units are very few and far between in Hallett Cove.
Hallett Cove has a large neighbourhood shopping centre situated on the corner of Lonsdale Rd and Ramrod Ave.
There are not many shops outside of the shopping centre even though Hallett Cove is a relatively large suburb.
It is a family friendly area as evidenced by the abundance of parks, reserves, child care centres and schools which cater for children up to Year 12.
The fastest way to get into the city from Hallett Cove is by train. Hallett Cove is also serviced by buses.
Why you should buy here
- One of the few seaside suburbs in Adelaide that has sea and rural views.
- An affordable beach side suburb.
- Easy access into the city by train
- As most properties are less than 30 years old, renovating is generally limited to rendering the outside walls of the houses and building decks to take advantage of the views.
Areas to focus on
Concentrate on properties that are close to the beach and/or have sea views. You’ll pay slightly more for a property with a view but it is well worth it.
Areas to avoid
Properties that are too close to the train line. Avoid properties on large and very steep blocks of land; you’ll pay extra for the land which is basically unusable due to its relative inaccessibility and it will require a lot of maintenance.
Written by Peter Koulizos, university lecturer, author and buyers advocate.