Peoples thoughts on Adelaide?

Just had an offer accepted on a property in Adelaide. After a fair bit of consideration decided in the end it represents good value when compared to Sydney and Melbourne. This will be IP no. 2.
 
Swearengen said:
Just had an offer accepted on a property in Adelaide. After a fair bit of consideration decided in the end it represents good value when compared to Sydney and Melbourne. This will be IP no. 2.
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Apparently DT is on $500k pa. Don't tell him where as he may gazump you :D
 
hobo-jo said:
I think Adelaide residential property still has a low price growth ahead in the short to medium term, maybe even another price downturn after this cyclical bounce.

We've got the second highest unemployment rate in the country.

Olympic Dam expansion postponed.

Ship building future is uncertain.

Holdens and related manufacturers closing up in next couple of years.

Office vacancies in the CBD are climbing.

State Government handing down a budget that is not as generous as they'd promised.

Economically things aren't looking great.

I'm hoping the property market rolls over again for some better buying in around 2 years (maybe doom and gloom will peak as Holdens shuts, unemployment peaks, etc).
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Not looking good for the shipbuilding industry in SA:

It comes as the government sends out more signals that it is prepared to break its election promise to build 12 new submarines in Adelaide and potentially buy new vessels from Japan.

Australian Industry Group chief executive Innes Willox said local supply chain companies had made investment decisions on expectations the submarines would be built in Adelaide and needed clarity.

"Companies have acted in good faith here and there's been a long held belief and signals from governments of both sides that submarines would be built in Australia," he told ABC Radio on Tuesday.

"Industry would be looking for guidance as soon as possible."

Australian Manufacturing Workers Union national president Paul Bastian said on Tuesday that building the submarines in Japan would cause a ripple effect for industry.

"I think there will be thousands of jobs in the ship building sector that will be put at risk," he told ABC Radio.
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http://www.smh.com.au/federal-polit...ubs-says-business-unions-20140909-10e6xb.html
 
I've got a few mates in the ship building industry in Adelaide that currently work as welders. They said if work dries up here they'll move to Perth. The trouble with Adelaide is the state has gone to the dogs with jobs and industries drying up left, right and centre. The biggest employer atm is the State Government.
 
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