OLIVER Hume is launching more than $315 million of South Australian land, expanding its presence in the state.
With Oliver Hume marking South Australia for the property services group’s further eventual growth, the group entered the state in September this year when launching the Springwood masterplanned community in Gawler East.
“We’re really excited to be off and running in South Australia. South Australia’s best days are ahead of it, and we can’t wait to be a part of the journey to full potential,” said Julian Coppini, CEO of Oliver Hume.
The Springwood community, in partnership with developer Wel.Co, injected 1,500 lots to the SA market.
While Villawood’s St Andrews followed shortly after, successfully launching over 700 lots in November to Adelaide’s north.
“Oliver Hume’s inhouse research teams have developed a deep understanding of the growing South Australian residential market and its opportunities and challenges,” said Coppini.
Coppini also pointed to 2022 bringing an inevitable uptick in activity for South Australia, with borders opening up and international migration resuming, while many investors and owner occupiers may be priced out of Melbourne and Sydney.
“The city offers secure employment opportunities for young professionals in thriving local industries and businesses, with incredible laneway bars and amazing restaurants to enjoy in their downtime.”
This is supported by Adelaide winning out as Australia’s most liveable city Australia by to The Economist Intelligence Unit’s Global Liveability Index 2021, while also ranking third globally, with the highest scores possible for healthcare and education.
“The South Australian property market is attracting the attention of both local and other prospective buyers and that’s increasing demand for new land projects. There’s a great southern migration happening, and a lot of young people and skilled professionals are deciding to call Adelaide home,” said Coppini.
Oliver Hume also pointed to Adelaide reaching its highest rate of new land sales over 2020, with more than 3,700 lots being snapped up.
While major infrastructure and manufacturing projects including the AUKUS submarine deal, pointing to further growth for the state.
“We are at the very beginning of our journey in South Australia. Our plan is to support a growing pipeline of projects across metropolitan and regional areas and provide incredible places for South Australians to live, work and raise a family,” concluded Coppini.
Recently in the state’s land market, Renewal SA has released 60 hectares of land in Adelaide’s outer south to the market, with 1,000 low and medium-density houses anticipated for the site after the rezoning earlier this year.