Australian Property News
The path for investment opportunities widens in South Australia
Posted on Tuesday, January 31 2012 at 4:53 PM
The proposed Olympic Dam expansion is becoming more and more certain, after plans were announced to expand the Stuart Highway from Olympic Dam to Port Augusta in South Australia.
Managing director of C&G Group and Leicester Management Services, Rick Treloar, says now is the perfect time for investors to start looking – and buying – in South Australia, before things really take off.
“Everything has been approved, they’re waiting on BHP Billiton to give the final go ahead,” he says.
“I think Whyalla, Port Augusta, the whole area will take off as far as property prices are concerned and vacancies will become less and less.”
It comes after Minister for Mineral Resources and Energy Tom Koutsantonis announced the Stuart Highway would undergo the most extensive upgrade in decades, a signal that something huge is just around the corner perhaps for South Australia.
“For those looking for evidence that the mining boom in South Australia will lead to improvements in our state’s infrastructure, here is an excellent example,” he says.
“Funded from $25 million to be provided by BHP Billiton following the approval of the proposed Olympic Dam expansion, this infrastructure project will assist the mining industry in our state’s far north and provide an upgraded highway.
“We anticipate that the Olympic Dam expansion will lead to hundreds of trucks, creating increased traffic movements as construction material is transferred from Port Augusta to Roxby Downs.
“Long after that work is completed, the upgraded highway will remain, providing better access to regional South Australia and providing economic benefits to Whyalla, Port Augusta and Port Pirie.”
The upgrade is part of the $1.2 billion in preliminary works and equipment contracts announced by BHP Billiton, ahead of approval for the expansion project, which is expected to be considered at Easter this year.
Work on the Port Augusta north section will be followed by the Pimba south section.
Follow us on Twitter.
Was this article helpful? Place a link to it from your website, or share it using the button below.
2015 outlook mainly positive
Inner Sydney vacancy rate hits 22-month low
Top sellers in the south
SMSF recommendations “unhelpful and self-defeating”
WA housing affordability improves
Surprise GDP slowdown