Sensational-Adelaide.com

A Spire every week!

I can smell real estate agents and property investors starting to sweat.

The industry needs to publish spin like this because they want to keep inflating this bubble that we are in. There are many people who have literally bet the house that property prices will keep rising forever. As we are now finding out in the US, UK, Spain, Ireland, New Zealand and finally here property is not the risk free investment that people have been led to believe.

Make no mistake, articles like this are carefully thought out spin designed to pump up the market a bit for first home buyers. Last weekend we had the lowest auction clearance rate in Adelaide for years and years and the entire inflated market is built like a house of cards with first home buyers at the bottom.

In the UK just before things started to really crash they were trying to put the "housing shortage" spin on things too. It turned out there wasn't one.

muzzamo wrote:I can smell real estate agents and property investors starting to sweat.

The industry needs to publish spin like this because they want to keep inflating this bubble that we are in. There are many people who have literally bet the house that property prices will keep rising forever. As we are now finding out in the US, UK, Spain, Ireland, New Zealand and finally here property is not the risk free investment that people have been led to believe.

Make no mistake, articles like this are carefully thought out spin designed to pump up the market a bit for first home buyers. Last weekend we had the lowest auction clearance rate in Adelaide for years and years and the entire inflated market is built like a house of cards with first home buyers at the bottom.

In the UK just before things started to really crash they were trying to put the "housing shortage" spin on things too. It turned out there wasn't one.

yeah, good point muzzamo, i keep forgetting this was in the Tiser...

I like the idea of building more apartment buildings, rather than extending our urban sprawl

a few more buildings like the Spire maybe.

Düsseldorfer wrote:I like the idea of building more apartment buildings, rather than extending our urban sprawl

a few more buildings like the Spire maybe.

Yeah, the city square mile should get more and more apartment buildings and quickly. Also councils should change their attitudes and let developers build at least up to 5-storeys on main roads (used by public transport) and around retail precincts (like Norwood, Port Adelaide, Glenelg, etc., etc.).

Cheers

I would like to see alot of this growth funneled into regional towns aswell as low-high density apartments in the inner suburbs and major PT interchanges (such as Elizabeth, Salisbury, Noarlunga, Oaklands, Port Adelaide etc).

Call me really really crazy, but we gotta get serious about urban sprawl in Adelaide - so much so that we should start looking at decommisioning (basically a rather nice term for bulldozing to the ground) and consilidating growth within the urban boundaries...Yes, those pretty little suburbs and McMasions just due north of the Little Para River... gone. Same goes for those horrendous suburban slums due south of the Onkaparinga... gone.

How about we first get started around the major corridors, including Henley Beach Road, The Parade, Goodwood Road, Prospect Road, Torrens Road, Port Road, etc...

i Agree. Consolidate urban spread. Go for much more CBD high rise resi dvelopment. Much less taxing and expensive for infrastructure with less area to cover. Sprawl is the bane of Brisbane. (Huge area) The place is in a mess for roads. Madness everywhere trying to catch up.

You, know, the idea we have been putting was once actually seriously considered for Adelaide in the 1980's. Then died and sprawl took over.

Also, Muzz, here we have a mineral boom on the way, unlike the UK.

ADELAIDE - CITY ON THE MOVE

135,000 people over that time isn't that many really

Shuz wrote:Call me really really crazy, but we gotta get serious about urban sprawl in Adelaide - so much so that we should start looking at decommisioning (basically a rather nice term for bulldozing to the ground) and consilidating growth within the urban boundaries...Yes, those pretty little suburbs and McMasions just due north of the Little Para River... gone. Same goes for those horrendous suburban slums due south of the Onkaparinga... gone.

there is a lot of detached houses in the areas you have kept you idiot.

There is much effort and expense in trying to attract immigration from o/s to Adelaide. There are also many persons in Australia who could be attracted. I for myself, live in an eastern state, have visited Adelaide a few times. However, I would be reluctant to make such a move as I have a difficult time trying to get job due to being out of work for many years and being of a different lifestyle, and also have little personal resources.

Perhaps with state or commonwealth assistance, Australians could be encouraged to make the move, including being able to receive:

An assisted passage, including relocation or removal and storage costs;
Payment of full rental bond if taking up rent in a private market;
If entering a non-professional or non-executive position, subsidised housing of a suitable standard--ie above the basic level of living accommodation. The last thing I want to find when making such a big move is that it costs a fortune to rent anything decent and I have to take crap, it would be like its pointless even making such a huge move away from my friends and whats familiar to me;
If coming to work, assistance in securing a lucrative position...........I am not going to shift halfway across the country for something that is not reasonably rewarding, financially that is, otherwise I would be better off taking a lesser job back here;
Housing location should be appropriate, in my case, as a person who doesn't have a car, to easy access to transport with high service frequency, close to shops and essential services.............except if assistance to acquire a vehicle is forthcoming or a vehicle is included under any pre-tax area of a salary package;
Easy entry into any tertiary course, and expenses that are not deferrable under HECS such as books to be paid for by the government;

Its time we started to do a lot more for those within our borders than those outside them. Under the right conditions, I would be willing to come over, and probably stay around.

hi fancier, suggest you move over to this existing "how to attract people to SA" thread ==> http://www.sensational-adelaide.com/for ... =17&t=1384. lots of good ideas here, including topics you mention above...

fancier wrote:and being of a different lifestyle...

do tell more - you have my attention, again perhaps over in the other thread...

While the home-building industry has a point of view to push, it is quite clear that there are not enough homes to go round in Adelaide.

Have a look at the posts on this topic at:

http://www.sensational-adelaide.com/for ... 164#p57164

All 'sides' twist the truth. Surveys consistently show that most people given the choice prefer a detached dwelling on an allotment to a city unit, which are not ideal for families. Each to his or her own, but that's why there is an oversupply of city units while over 100 homes a week still won't meet demand. There are always new arrivals, and people moving out of parental homes or wanting to set up house together and start families etc.

In the good old days, the SA Housing Trust was in the business of renting 3 bed homes on large allotments to new arrivals or young couples - today's 'first home buyers'.

But today, with govt subsidies going towards deposits on houses rather than financing a govt builder/renter as SAHT was, it is up to the private sector to provide the homes required. It can't do that without the land, the availability of most of which the govt controls either by zoning or by outright ownership.

Building costs have risen in real terms by 2-3% over the last 35 years, while residential property prices have risen ten times in real terms. The increase is in the land component, not the building. A decent building block on the Adelaide fringe used to cost half the price of a Holden. Now it is over 5 times the price of a Holden.

The govt is restricting the supply of land.

Btw, it is fashionable but misguided to talk about the cost-efficiency of urban consolidation. It is more expensive to retro-fit extra capacity to underground and overhead infrastructure in built-up areas than in greenfield locations, and extending public transport routes does not reduce their efficiency and economy - it increases it.

Both the govt and the property development industry (not the building industry) have a vested interest in keeping land scarce.

The recent example of lines of people camping out to secure a building block from a rare release of government land north of the city was not an encouraging sign of economic health - it was tragic, especially since nearby, even allowing for parks and good urban design, there were hectares of vacant government land that may not be developed for decades.

Meanwhile, the govt and their development partners laugh all the way to the bank. Adelaide is the 12th LEAST affordable place on the planet to buy a home, worse than Sydney, London or New York. Why? There is plenty of vacant land around, but not enough of it is on the market to absorb the demand for it.

It comes down to a question of whether the govt is here for us, or whether we are here for the govt. Look at the thread indicated.