Being the economics nerd that I am, I have a fairly strong feeling that Adelaide and S.A may dodge that bullet in the above article. Firstly, although we've seen a large increase in apartment construction here, it's been nowhere near that of the eastern state where there's a huge apartment glut. If our population started to increase even slightly faster then there is plenty of room for more to be built here, which is on the cards as unemployment is falling rapidly here meaning more jobs are being created.metro wrote: ↑Mon Jul 23, 2018 10:54 pmOh wow, something with a curve, even if it's just one corner it will be a welcome change to the boxy Adelaide skyline. Height is also decent, should block out Westpac a bit.
But.. this has me a little worried it may never get up.
http://www.abc.net.au/news/2018-07-23/c ... 8/10024948
Secondly, the S.A economy and most importantly, confidence, seems to be on the up and up. The recent ship building announcements, mining investment, advanced manufacturing and the biomedical precinct are starting to get attention outside of the state. Add to that a new State Govt. that is reducing taxes on business and removing red tape. It should all add up to more demand for office space in our CBD and the need for some new towers.
Thirdly, our property prices are still relatively affordable, and haven't seen anywhere near the growth that's happened on the east coast. As those markets start to cool, like they are now, it's only a matter of time before investors start looking elsewhere for some bargains. It's called the ripple effect, and it's already happening in Tasmania, with Hobart the current property hotspot for growth (I think Hobarts median price is on par with Adelaide now). It makes sense that Adelaide should be next.
Anyways, I hope this tower gets built as the design is decent and the location is excellent for such a building.