State of Markets - SA April 2012
Essential information, plus expert insight on what is shaping the national property market...
SOUTH AUSTRALIA
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- $1,173.50: Average weekly earnings for full time adults (ABS)
- $250: Average weekly rent in Adelaide (RP Data)
- 1.3%: Vacancy rate in Adelaide (SQM Research)
Roofs raised for progress in Adelaide
CBD height restrictions may be relaxed under a review of planning rules, according to Adelaide Lord Mayor Stephen Yarwood.
The state government will consider raising maximum CBD building heights as part of a zoning review.
“There is a chance for reform and it would be disappointing if we just tinkered around the edges when we can actually send a message,” Mr Yarwood said.
“There are parts of the city where I know for a fact that the vast majority of councillors are not afraid to have a discussion on building heights.
“The city wants development, the city wants progress and we want to make it easier,” he said,
The new guidelines will be out by mid-year. However, the outcome is uncertain, with some of the 12-person council expected to resist overdevelopment and urban sprawl.
Currently, a majority of developments are capped at 60m, which if unchanged would fall short of the estimated population in 2040 by 27,300 people.
Areas with regional airports face growth challenges
The future of areas whose councils are finding operating their regional airports increasingly expensive is quite literally up in the air, a new report claims.
Regional airports are crucial in the provision of labour for mining areas, and are a growth driver, the local government association (LGA) for SA’s Regional Airports Project has said.
“With the rapid development of the mining industry in regional South Australia, regional airports are playing an increasing role in economic development along with the movement of labour between regions,” the report said.
Mount Gambier, Naracoorte, Port Augusta, Renmark and Ceduna all have regional airports.
LGA president Kym McHugh said implementing effective strategies would be crucial in keeping areas afloat.
“There are significant challenges ahead for councils that own regional airports,” he said.