Article: Adelaide prices will increase by 23%

[adam_stuckey]

He said Adelaide's affordability made it a hot destination for interstate and overseas investors

$400,000 for a one bedroom apartment is a joke.

You don't have to spend $400k on a one bedroom apartment, one mate picked up a one bedroom city apartment for under 200k, another picked up a three level townhouse next to chinatown for around 500k. So it's not as bad as many make it out to be.

Absolutely but $400,000 for any one bedroom apartment is a joke.

I'm talking about brand new developments. I looked in to buying a one bedroom place in the Conservatory building and asking price was from $420,000.

[Prince George]

Whether you're buying or renting, you always pay a premium for a new building, Adam, irrespective of the state of the buildings. The builder is carrying a bunch of debt and they need to turn a profit; older buildings have amortised their construction costs somewhat. Give it a few years and the prices in Conservatory will be more reasonable.

[AtD]

^^ The price is more to do with what the buyer is willing to pay. If buyers didn't place a premium on new buildings, no one would buy them if existing buildings were cheaper.

[Omicron]

Our overseas contributors can offer some insight - how does the Australian supply of housing compare to the rest of the world? Price increases as a result of high demand won't go away if supply remains restricted by land-use controls, which is both a good and bad thing, depending on how you look at it.

[adam_stuckey]

Oh i do agree of course most people mytself included would rather buy a brand new place instand of an older place that needs doing up. but $400,000 c'mon you couid buy a decent family home 10 mins out of town for that! Its a total rip off and its not like those prices ae going anywhere soon you'd be lucky if 10 years that place was over $450,000. Where as with a bit of work the family home could be pushing $600,000 if this price increase is real...

[Hooligan]

The 'housing crisis' is only because people in their 20's expect to get the latest and greatest straight up. You have to start with a house like that of what Wayno said, or buy in a less desirable area to start with and then go up from there.

I'm going to sound hypocritical because i am 22 but young people these days expect to get everything too quickly, you have to work for it

[adam_stuckey]

The 'housing crisis' is only because people in their 20's expect to get the latest and greatest straight up. You have to start with a house like that of what Wayno said, or buy in a less desirable area to start with and then go up from there.

I'm going to sound hypocritical because i am 22 but young people these days expect to get everything too quickly, you have to work for it

You kids today with your Pacman video games, Hoolahoops and Dan Fogleberg. People todays attention span can only be measured in nanoseconds..

[Shuz]

[adam_stuckey]

Some day i'm gonna own a big sports bar!