Seaford Meadows: SA Housing Trust puts 42ha greenfield site on the market

Seaford Meadows: SA Housing Trust puts 42ha greenfield site on the market, @MichaelBleby reports. #ausproperty

https://t.co/c0QC77ybdE

— AFR Property (@AFRproperty) August 30, 2016

Source: @MichaelBleby reports. #ausproperty afr.com/real-estate/co… 5:14 PM - 29 Aug 2016 https://t.co/c0QC77ybdE http://www.afr.com/real-estate/commercial/sales/sa-housing-trust-puts-42hectare-greenfield-seaford-meadows-site-on-the-market-20160829-gr3qix#ixzz4Iiu3yfZP SA Housing Trust puts 42-hectare greenfield Seaford Meadows site on the market The South Australian Housing Trust has put up for sale a 42-hectare site at Seaford Meadows, south of Adelaide, with the capacity for about 750 new homes. To know further details call: +61 431138537 ==========

A commodity economy with record-breaking property prices, fuelled by ultra-low interest rates and Chinese buyers, raises taxes on foreign homebuyers.

While the scenario is eerily similar to Australia, it is actually Canada and early signs are the property market is rapidly cooling.

The unravelling could offer insight for Australians contemplating the state of the expensive local real estate market.

A record one in five Canadians expect house prices to fall, according to the weekly Bloomberg Nanos Canadian Confidence Index.

The new Sea to Sky Gondola near Squamish, about 60km, north of Vancouver has drawn increasingly more visitors to the Sea to Sky Corridor, driving home prices higher here.

The number of property price pessimists has nearly doubled since a 15 per cent foreign buyer tax on Vancouver homes took effect on August 2. In the first two weeks since the tax came into effect, home sales fell 51 per cent in the metropolitan area, the Real Estate Board of Greater Vancouver said.

Nanos Research chairman Nik Nanos told The Australian Financial Review that real estate was the "canary in the mine" for the Canadian economy and the foreign acquirer tax has had an immediate "chill" effect on confidence.

"If we see a significant slide in confidence in real estate there will be an immediate negative knock-on effect on the Canadian economy because right now there is no energy [oil] economy to fall back on," he said.

The price of Canada's biggest export, oil, has crashed over the past two years, much like iron ore and coal prices in Australia.

Price surge

Like Sydney and Melbourne, real estate prices in Canada's most-liveable cities have surged in recent years.

A combination of low borrowing costs, strong demand, limited housing supply because of red tape and, anecdotally, foreign buyers mainly from China seeking to park their money in perceived safe havens offshore, pushed up values.

Vancouver house prices soared 30 per cent in the year ended May 31, and prices shot up 15 per cent in Canada's biggest city of Toronto. The median price for detached houses in Vancouver jumped to $C1.6 million.

The foreign buyer tax, introduced after a flurry of Chinese buyers were accused of pushing up prices beyond affordable for everyday Canadians, is sharply higher than similar taxes recently increased by NSW, Victoria and Queensland.

The Baird government in June announced a 4 per cent stamp duty surcharge for foreign buyers in NSW, adding $40,000 to the cost of a $1 million property and taking the total stamp duty to $80,490.

Victoria in May more than doubled the surcharge for foreign buyers to 7 per cent, while Queensland will charge 3 per cent from October.

Unsustainable expectations

To be sure, Canadian house prices have not fallen yet. About 41 per cent of those surveyed said they see home prices rising and 36 per cent believe there will be little change in values.

The market is cooling in the previously red hot area of Vancouver, even before the new property transfer charge for foreigners was unveiled.

Like Australia, the International Monetary Fund has pointed to financial risks associated with Canada's hot housing market.

Echoing Reserve Bank of Australia governor Glenn Stevens, Bank of Canada governor Stephen Poloz recently warned that prospective homebuyers should not expect the recent price surge to repeat.

"If prices are going up because people expect prices to go up, then that, of course, is probably unsustainable," Mr Poloz said in June.

He did not say what would happen if people expected prices to fall.

Sentiment can be a key driver of asset values.

Whether the rising Canadian pessimism on housing transmits to actual price declines remains to be seen.

For property-obsessed Australia, Canada could be a handy barometer to see if the market will finally be tipped over the edge.

================================================= "The South Australian Housing Trust has put up for sale a 42-hectare site at Seaford Meadows, south of Adelaide, with the capacity for about 750 new homes." SA Housing Trust puts 42-hectare greenfield Seaford Meadows site on the market " The South Australian Housing Trust has put up for sale a 42-hectare site at Seaford Meadows, south of Adelaide, with the capacity for about 750 new homes. A condition of the sale of the Seaford Meadows site was that at least 90 new social housing dwellings would be built as ...part of any development.

The South Australian Housing Trust has put up for sale a 42-hectare site at Seaford Meadows, south of Adelaide, with the capacity for about 750 new homes.

A condition of the sale, which market sources said could be worth between $25 million and $30 million, was that at least 90 new social housing dwellings would be built as part of any development and a minimum of 15 per cent of homes would be provided as affordable housing.

"We are seeking an experienced developer to deliver a high-quality master planned development featuring a diversity of quality housing and new public infrastructure," said Michael Buchan, the general manager for property development at state government development organisation Renewal SA.

"We are seeking innovative ideas from the industry and not-for-profit sector for the best way to achieve new social housing and affordable housing as well as providing an economic stimulus for the state."

The sale is part of the state government's Renewing Our Streets and Suburbs initiative to replace outdated Housing Trust homes in areas with traditionally high concentrations of public housing, with new homes in sought-after suburbs, locating people closer to services such as transport and schools.

The sale is part of the state government's Renewing Our Streets and Suburbs initiative to replace outdated Housing Trust homes in areas with traditionally high concentrations of public housing, with new homes in sought-after suburbs, locating people closer to services such as transport and schools.

The site, being marketed through McGees Property, is vacant and has historically been used for farming. The successful proponent will be required to prepare a master plan for the site, located between the southern coastline and McLaren Vale wine region, in consultation with Renewal SA and the City of Onkaparinga.

"The 42-hectare site is one of the largest residential sites to be offered to the open market in recent times and is one of few remaining opportunities in the highly sought southern Adelaide region," McGees Property director James Juers said. "It is a prime site and the area includes schools, libraries, community centres, open spaces and shopping centres."

Expressions of interest close 13 October 2016.

Seaford Meadows: SA Housing Trust puts 42ha greenfield site on the market

Seaford Meadows: SA Housing Trust puts 42ha greenfield site on the market, @MichaelBleby reports. #ausproperty

https://t.co/c0QC77ybdE

— AFR Property (@AFRproperty) August 30, 2016

Source: @MichaelBleby reports. #ausproperty afr.com/real-estate/co… 5:14 PM - 29 Aug 2016 https://t.co/c0QC77ybdE http://www.afr.com/real-estate/commercial/sales/sa-housing-trust-puts-42hectare-greenfield-seaford-meadows-site-on-the-market-20160829-gr3qix#ixzz4Iiu3yfZP SA Housing Trust puts 42-hectare greenfield Seaford Meadows site on the market The South Australian Housing Trust has put up for sale a 42-hectare site at Seaford Meadows, south of Adelaide, with the capacity for about 750 new homes. To know further details call: +61 431138537

$3b land sale bonanza will create more than 4500 homes

June 14, 2015 12:00am Sheradyn HolderheadPolitical ReporterSunday Mail (SA) The Caroma building site on Magill Rd is being earmarked for high-density housing. •New homes to be built at former Magill Youth Training Centre site •Don’t sell lucrative Motor Accident Commission MORE than 4500 homes will be built in new housing estates within metropolitan Adelaide as the State Government prepares to sell almost 200ha of land. The upcoming land releases are expected to generate a total investment of about $3 billion. Under the sell-off, the former Caroma site on Magill Rd has been earmarked for what could be the eastern suburbs’ largest high-density development. Jay Weatherill Sex-fuelled festival with no rules ‘We screamed as everything was shaking’ Supplied Editorial Fwd: Photo of truck fire Manningham READ BELOW: $6m campaign to lure foreign students READ BELOW: Smile ... you’re on candid camera The Government wants about 300 homes on the 2ha Norwood site as well as some commercial development such as cafes, offices and shops. The largest parcel of land it plans to sell is a 44ha portion of the Strathmont Centre and Hillcrest Hospital site at Oakden. It should be on the market in months and when finished would include 900 houses. Planning Minister John Rau said there were “significant” expressions of interest in Glenside and the site was moving closer to a sale. He said the 200ha land sale would drive the revitalisation of the city. “They are part of a modernisation process that will transform our city just like the Adelaide Oval has transformed the CBD,” Mr Rau said. “In five or 10 years people will be able to identify this as a time when Adelaide came of age.” Other sites due on the market this year include: SEAFORD Meadows — 43ha site close to the beach and regional centre near Onkaparinga River Park and Commercial Rd that would accommodate about 750 houses. ENFIELD high school — within 10km of the city on Grand Junction Rd, this 8ha site could include up to 130 houses. OLD Royal Adelaide Hospital — the state’s premier land holding will hit the market within weeks and will be open to a mixed-use development that is likely to include some housing. PORT Adelaide — pitched as the “last undeveloped port waterfront in Australia” includes 40ha of land in six parcels expected to generate up to $2 billion of investment. In December, the Government put 17ha of land surrounding Glenside hospital on the market, which could house up to 1000 homes. Mr Rau said the Government still had to rezone the Caroma site but thought it would be suitable for a group of four-to-six storey buildings — similar to Ergo Apartments. Mr Rau said his ministerial trip to Canada last month showed there was greater scope to include “mixed-use” buildings in the city and other developments close to the CBD. “Buildings that have a single use don’t have around-the-clock activity,” he said. “Office buildings have activity between 9am and 6pm but that’s it, and buildings that are just residential are dead between that time because everyone is at work. “(It) makes it a safer place but also makes it a far more active place.” He said increasing the number of mixed-use buildings would also help improve the quality of medium and high-rise buildings. “Developers are more likely to keep hold of mixed-use buildings because they provide an ongoing income source which means its more likely the building will be high quality than something they are planning to sell off,” he said. $6m campaign to lure foreign students By Sheradyn Holderhead ALMOST $6 million will be spent on a new marketing campaign to attract more international students to South Australia. The Sunday Mail can reveal the State Government hopes its Destination Adelaide campaign will lure more Asian students to study at SA universities. The 2015-16 State Budget will include $5.7 million over four years for the campaign. Almost $6 million will be spent on a new marketing campaign to attract more international students to South Australia. Picture: Thinkstock Treasurer Tom Koutsantonis said the Government plan would also link increased student numbers to tourism and trade opportunities. “This investment is about accelerating the growth of our international education sector to drive the economy and job creation,” Mr Koutsantonis said. “It’s a competitive market and this State Government is committed to investing in this growing sector to ensure SA realises its full potential.” The State Development Department will co-ordinate the campaign but it’s expected a significant portion of the funding will go to StudyAdelaide, the Government’s international student marketing body. In 2012, the State Government announced it would axe its $1.6m-a-year funding to the body but partly reversed its decision in the election campaign, restoring $900,000 a year in funding. That decision followed the Liberals’ election pledge to provide $2m a year to the body as part of its plan to increase student numbers if elected. Mr Koutsantonis said education was SA’s fifth largest export, worth close to $1 billion each year, and created about 8000 full-time jobs. “More than 30,000 international students are enrolled across the state and the benefits of these students extend far beyond the institutions at which they study,” he said. “Our international students invest in property, shop in our local businesses and visit our local tourist attractions.” Mr Koutsantonis said the campaign would: MARKET SA within China, India, Malaysia, Singapore, Vietnam and Hong Kong. DEVELOP scholarship and incentive programs for international students. ENSURE international students offered a public university place in Adelaide also had accommodation. Higher Education Minister Gail Gago said the money would also help expand the Qingdao Ambassador campaign in South Australia’s Chinese sister-state of Shandong that would market SA to millions more potential students. “Under the campaign, a student ambassador travels to Adelaide to undertake a four-week English course and visits the state’s universities as well as some of our tourism hot spots,” she said. “Their experiences are then shared with family, friends and potentially millions of fellow students in SA’s largest source country, China, through social media.” Smile ... you’re on candid camera By Sheradyn Holderhead and Steve Rice BODY-mounted video cameras for police officers are expected to be announced in Thursday’s State Budget, the Sunday Mail has been told. The SA Police Association says the small cameras, worn on officers’ vests, are to improve conviction rates and reduce complaints against officers. Victoria police trial the body cameras, which are likely to be introduced in SA following an announcement expected in Thursday’s State Budget. NSW is using similar cameras to improve the success rate of domestic-violence prosecutions. SA Police Commissioner Gary Burns told a recent parliamentary inquiry police had worked through the technical and hardware problems identified in a past trial of the technology. “The issue then was that the hardware wasn’t police proof and it broke too easily. The issue for all body-worn video now ... is storage — being able to store your video, associate it with a particular crime report or apprehension report, and make sure it is searchable,” he said. “We have solutions for that.” The Government would not comment on whether it planned to fund body-worn video, but Police Minster Tony Piccolo said the Government had a proud history of supporting SA police. “Police constantly review what technology they can use to help keep the community safe,” he said. First Home Buyer's Grant and affordable homes starting at $190,000 in South Australia, Check, ask for further details. If you can own home then you don't need to spend on rent. Ask for further details to get your own home in South Australia. david Jun 14, 2015 This is the only way to fly. Recent developments continue to show that they understand the designs that work with a reasonable balance of open space vs the higher density housing models. Younger people in particularly want a good sized home with all mod cons in a good location rather than the traditional 1/4 ace block. We must stop the sprawl without pushing land prices up too much. Yes there will be some downside with more traffic & some extra congestion on our roads but that might push people into using public transport. The 30 year plan relied too much on developments well away from the city with little chance of people being anywhere near employment centres. The real issue are more about services & not housing density like schools doctors & most importantly Hospitals. Several of these new developments will mean that the Queen Elizabeth & Modbury are more important than ever. PS The 30 year plan lost its way 5 years ago & is now dead in the water