SA Suffers Olympic-Sized Doubts | Report
Far away from the excitement of London Olympics, the South Australian property and construction industry is having an Olympic event of its own – and it’s not a pleasant one.
As talk of several years in delays to the Olympic Dam expansion project intensify, the outlook for the commercial property values and construction industry prospects in the state continues to deteriorate.
Indeed, participants in the latest Property Council of Australia Confidence Survey now have negative expectations about the state’s overall prospects for the next 12 months – good news for corporate tenants but bad news for investors, property owners and developers, as well as the state’s construction workforce.
Below is an outline of current market conditions and forward expectations in residential construction, commercial property/non-residential construction, engineering construction and construction industry employment.
‘From bad to worse’ is how the Housing Industry Association (HIA) describes the state of South Australia’s residential construction industry.At 8,850, the overall number of dwelling unit starts the HIA reckons...