SA Adelaide Property News 2018

Hi all (especially DT since I’ve read many posts by you)

I am just applying for AU PR and am considering Adelaide (lived in Melbourne in the 90s and don’t really like how it is now).

Any recommendations for land with possible sea views? I’ve read that south seems to be the place to look right now but not sure specifically where to shortlist.

I have 2 kids 6 and 8, probably 8 and 10 by the time I get my PR so schools will be a priority. My missus is a great cook and a qualified baker so somewhere close to town / cafes will be good. I run a tech outfit and can work remotely so not really an issue (some direct access to Adelaide Airport perhaps?).

Feel free to PM me, I welcome related unsolicited messages

Budget <$400-500k

Thank you.

 

Refer SA - Adelaide Beachside suburbs Review

What kinda budget ya got?

 

Forgotten to add that - $400-500k. $400k would be great + $50k for renovations and furniture etc.

 

Adelaide is still ticking along slowly. 65% clearance rate.
Adelaide Real Estate Auction Results

 

@D.T : it is great reading your insight of beach suburbs. Can I ask your opinion about Thompson beach? I know there's almost nothing but the sea, however, land is very cheap. A sea view lot of land may cost just over 100k, over 200k with a house on it. Is there any further development opportunities in the future do you think? St Kilda is also quite similar. Thanks

 

Adelaide house prices on the (slow) rise

“Adelaide is batting above its weight — growth is coming even though there’s a weaker economy.”

He said Adelaide’s property market was in no danger of overheating as prices were growing at a slower rate than wages."

“Current (Adelaide) growth, while slight, was noteworthy for coming at a time of slower population growth and more shaky economic conditions” Mr Lawless said."

The quiet achiever of the Australian housing market

"And in a climate where headlines are dominated by dwelling market declines, tightened credit and falling clearance rates, quiet achievers are often overlooked.


Adelaide is one such market. Despite years of setbacks to employment in South Australia, Domain data shows Adelaide houses have been growing in value each year for the past five years, outpacing inflation by an average of 2.5 percentage points each year. "

"Employment is a big factor, and in October this year the state’s unemployment rate eased to its lowest point since November 2012, at 5.5 per cent.

In the year to October, there was an increase of approximately 12,000 jobs in SA, unemployment reduced by 3000, and 9000 additional people entered the labour force"

 

Anyone got any registered/licensed builder contacts for elizbaeth north area.

One thats not going to rip me a new one, for a small job

Long story short
Dud tenant 12 weeks behind in rent
I now have an hia order for a wobbly step that needs to be signed off by a builder

The tenant is now gone but for 3 months he would deliberately tie up his pitbull next to the step so handymen couldnt get throguh

 

Interesting chart! Could we see a return to the previous gap of $100,000? Would be interesting to see a longer term version of this to see if the 2010 gap was typical of the past.

 

Sure, these things have a tendency to return to the mean. The real question is will Adelaide rise to meet it, or will Syd/Mel fall?

 

Too far away in my opinion, might be a very long term bet

 

One of the problems with Thompson Beach is it could be prone to flooding in the future as the area is only a few metres above sea level. If there was a severe storm or huge tide, there is a potential for flooding which is why some of the newer houses being built are built elevated. However, I think the tide has to be around 2.8 to 3.7m. If climate change increases sea levels in the future it could become an issue. However, there are places around the world where people do live in flood prone areas with elevated houses so its not uncommon. Here is an old 2012 article about Thompson Beach and beach towns under threats from the seas - No Cookies | The Advertiser

 

Adelaide puts food, not developments at the top of the city-fringe menu - ABC News (Australian Broadcasting Corporation)

"Two years ago, the then-state Labor government introduced Environment and Food Production Areas (EFPA) to restrict urban sprawl across a massive 8,000 square kilometres of land.

It's illegal to subdivide rural land for residential housing within these protected areas.

The ban takes full effect in April 2019, and has the backing of the current Liberal government."

SA plans $1 billion horticultural export hub on city fringe

"The state is aiming to ensure it has enough fresh produce not just to survive, but thrive.

Protecting farm land along the city edge is part of a greater plan to turn the Northern Adelaide Plains into an export hub and a global leader in intensive food production."

 

Very nice data tool in this article from ABC (How low can you go? Data shows impact of property downturn in your suburb) showing where price growth (or decline) was in each LGA (by calendar year).

Adelaide:

 

Another SA builder has gone broke, 2nd in a fortnight.

https://www.facebook.com/video.php?v=750069602023258

OAS Group (SA) Pty Ltd enters Liquidation.
Apparently Liquidators can't find any public indemnity insurance.

 

Stirling-based home builder ODM Group has gone into Liquidation, the third Adelaide builder to collapse in two week.

The collapses are being blamed on the continued downturn in the housing industry.

 

Adelaide housing correction is now turning up in the state budget:

Real Estate uncertainty a $40M hit to state budget - Adelaide Now, 13th December 2018.

"The Government’s mid-year budget review says tax revenues will be down by $79 million over the forward estimates, mostly from a slump in the housing market."

 

not Adelaide news but there have been a few good announcements over at Whyalla this week
Including a potential mega steel mill producing 10million tonne per year which would be a game changer for the whole state
To put in perspective current upgrades over next few years (worth over 600mill) will.bring output to 1.8million per year
Sanjeev Gupta has big plans for Whyalla and it's interesting reading. It would be easy to boo.hoo his plans but his past record is impressive
He gets **** done

 

I'm still there, but it hasn't come in with the goods,that's for sure.

 

Neither did Frankston until last boom
somehow missed all.the others before that though