SA Adelaide Property News 2018

Discussion in 'Where to Buy' started by D.T., 8th Jan, 2018.

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  1. Pete Arendt

    Pete Arendt Well-Known Member

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    Interstate Investors required to prop up ailing Adelaide property market. Where are you?

    Calls For Urgent Action as New Home Builds Plummet - The Advertiser, 12th Jan 2019.

    Fourteen consecutive months of declining new home approvals has cost the state’s building industry tens of millions of dollars, prompting calls for urgent action to support the struggling sector.

    The fall to 613 November approvals, six fewer than granted in October, marked the 14th consecutive month of declines and came a month after three builders went under in a week.

    “We’re a critical industry and we’re in trouble and we’re just after a little bit of help,” Mr Bryant said.
     
  2. D.T.

    D.T. Specialist Property Manager Business Member

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    Do you mean construction industry? Your link talks about approvals and yet you mention property market which is doing fine
     
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  3. Pete Arendt

    Pete Arendt Well-Known Member

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    No, home builders. If you read the article, there is a credit crunch happening in Australia, not just Sydney and Melbourne.

    Mr Bryant said delays and a huge growth in rejections for home loans in the wake of the Banking Royal Commission were causing particular strain.

    National figures show prospective first-home buyers were more than 10 times more likely to have their home loan application rejected in July 2018 compared to July 2017, as well as a huge spike in rejections handed out to would-be investors.

    So the problem is greater than just home building. It's just home building is the Carny in the Coal Mine.
     
  4. 2FAST4U

    2FAST4U Well-Known Member

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    upload_2019-1-12_21-47-55.png

    If you're a residential builder it''s bad news. However, for investors limited supply is actually a positive. The construction industry are currently lobbying for rainwater tanks to be non-mandatory for new builds (5k saving) and abolition of stamp duty for new builds. If these measures get implemented it will be a positive for the housing market even if supply increases.
     
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