Investors should take advantage of the growing opportunities in Adelaide, according to a leading property development consultant.
‘The 30-Year Plan for Greater Metropolitan Adelaide’ has identified where and how to invest by providing a guide to where people will live and how population growth will be managed," Property Prosperity property development consultant Darren Standish said.
“This creates the opportunity for developers to make big profits from developing larger blocks into smaller higher density housing,” said Mr Standish.
While the plan was released in 2009, investors have been keeping their distance and waiting on the sidelines until further details were available.
Main features of the plan include the placement of 70 per cent of dwellings within established boundaries and near transport corridors.
The key area tipped for growth, according to Property Prosperity, is the Southern Adelaide region, with infill growth making up 78 per cent of new dwellings.
The plan was given a boost in September 2011 after a government policy committee confirmed the final minor amendments.
“Investors should invest with their eyes open, understanding both the benefits as well as the risks associated with the 30-Year Plan for Greater Adelaide’,” Mr Standish said.