SA Government Plans for Adelaide

[jocko]

Hi All,

The attached article talks about attempting to ring an extra $1bn to SA through Defence Industry.

Might be an interesting development for SA and could have significant effects on the SA property market.

Thoughts?

jocko
:)

The Advertiser 4 Feb 03 (http://www.theadvertiser.news.com.au/common/story_page/0,5936,5932861%255E910,00.html)

[bundy1964]

I am still waiting for the MFP to start :eek:

3rd shift at Holdens after years of talk is finaly happening.

Westwood is going ahead in leaps and bounds.......only hold back so far seems to be relocating Houing Trust Tenants.

Still plenty of make over old trust homes to get the dozer reno left.

I think even without the defence work there is still a lot of upside to Adelaide.

bundy

[Sim]

mmm... I wouldn't use the term "significant" myself - I think it will have a positive effect, but it would take a while to ramp up with the extra work, so the effect will not be immediate.

There has been plenty of new development in Adelaide in recent years, particularly in the northern areas so I don't think there will be a severe shortage of housing around.

This is a very good thing for SA if they can pull it off - but I wouldn't be selling off your interstate portfolio to buy up big in Adelaide and capture the coming boom - because I just don't think it will happen that way.

Anyone want to buy a street of ex-housing trust hovels in Taperoo ?

[bundy1964]

Originally posted by Sim
Anyone want to buy a street of ex-housing trust hovels in Taperoo ?

Hi Sim
In my street I think the growth has already happened 5-6 years ago the hovels were 120k a double now they are selling for 400k as is and a renovated half is now 230k.

I have an uncle in Seaton and they have been told their hovel will be going so now may be the time for hovels in Taperoo/Seaton.

Kilburn is now being spoken of as the next big thing and to put it nicely it is a $h1t heap :o

I think the market will continue to stedily grow long term, it's not Sydney and we don't complain about that ;)

bundy