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at neighbouring Hillcrest and Windsor
Gardens where low-cost housing is
making way for architecturally designed
homes. There’s still plenty of older
housing attracting interest, though,
and it’s curiously located on the city-
side or Blacks Road side of Gilles Plains.
The price, of course, is on the increase,
with Gilles Plains rising 8.9 per cent to
$335,000 in the past year.
The constants with most of the suburbs
attracting subdivision interest in Adelaide
are location and price.
They’re either within about 10
kilometres of the city or they’re within
minutes of the coast and those in most
demand have a median price that falls
Gilles Plains’ neighbour Holden Hill has
a $327,000 median.
Nearby Clearview, which is even closer
to the city, is $350,000.
On the other sides of town, Osborne is
$328,000, Woodville Gardens $354,000,
Seacombe Gardens $393,000 and
Property analyst and WBP Property
Group director Chris Wakeham says
investors have been targeting larger
properties in Adelaide for several years,
but there’s an increase in product coming
on to the market as older homes come to
the end of their “use-by date”.
“This is happening more frequently in
the more traditional areas because people
want to live close to the city and they’re
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not making any more land,” he says.
“Suburbs within a 10-kilometre radius
are attracting the most attention.
“Owners are doing their finances and
often finding it’s not worth renovating so
they’re selling and moving on, perhaps
they’re even dividing their own land and
keeping one of the blocks.
“So there’s plenty of product out there
and investors are prepared to pay for it.
“It does appear that councils are
becoming more flexible in some areas
as far as what type of subdivision they
will allow but, in the traditional eastern
suburbs, the planning guidelines and
zoning as to what you can and can’t do
are still fairly stringent.”
Wakeham says there are several factors
behind the increased activity in the
adjoining suburbs of Holden Hill, Gilles
Developer disclosure guidelines imposed
Amendments to the community and strata titles legislation in South Australia are
expected to provide stricter guidelines around disclosure from developers and minimise
conflicts of interest.
The changes effective under the Statutes Amendment Act 2012 ensures the developer
will act in the best interests of the corporation during the developer control period.
The developer is also obliged to provide greater disclosure with regard to selecting a body
corporate manager or employing contractors to engage in services or works.
In addition, developers must disclose any commissions, conflicts of interest or profits
gained from contracts for services and restrictions that have been placed on the duration
of those contracts.
Tim Sheehan, director of SSKB Strata Managers, says stricter developer disclosure
guidelines inevitably lead to more voluminous contracts that can also result in buyers
struggling with lengthy and complicated documents.
“It is essential that consumers do appropriate due diligence before they buy an
apartment so they understand what they’re ending up with.
“To do due diligence the purchasers need an adequate amount of information. Getting
the balance right between an adequate amount of information and technical disclosure
guidelines is a difficult task, especially when many buyers don’t read the contract material
they’re given,” Sheehan says.
“Disclosing conflicts of interest is an aspect of appropriate disclosure. However,
disclosure can only remedy a conflict of interest if the other party to the transaction has
the right to walk away from the transaction.
“During the developer control period the developer can make certain decisions for the
body corporate because it controls the required number of apartments.
“However, the body corporate is a different legal entity to the developer, so the developer
needs to take off their hat as owner of apartments and put on their ‘body corporate’ hat.
“If the developer is selling all their apartments in the near future, they will have a short-
term view. However, the body corporate will exist for many decades into the future and
will have a long-term view.”
Planning amendments announced
Several zoning changes have resulted in new housing opportunities at both the AAMI
Stadium precinct and Woodville Station, according to Minister for Planning John Rau.
A residential precinct has been earmarked as part of the Woodville Station Development
Plan Amendment with additional open space now included following community feedback.
Changes have also been made to the West Lakes Development Plan Amendment that
revise building heights and increase open space after concerns were raised with regard to
density in this area.
Major masterplan released
Rezoning of areas at Gillman and Dry Creek to allow for a large-scale employment precinct
will create up to 6000 jobs and encourage businesses to the area, according to Housing
and Urban Development Minister Tom Koutsantonis.
“It has unparalleled access to road, sea and rail networks which make it an ideal location
for businesses with links to Port Adelaide, the broader metropolitan area, interstate and
overseas,” Koutsantonis says.
“The draft masterplan identifies about 240 hectares which, once filled and rezoned, could
be immediately developed for industry.”
SA \\ THE STATES
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