Submarine suburbs surface as property market hotspots
The AUKUS submarine plan, which may cost Australia upwards of $300 billion over the next 30 years, will have an enormous impact on the property and rental markets of the suburbs that will house the new workforces.
Australia's ageing Collins-class fleet, pictured here in Osborne, Adelaide, will eventually be replaced under a landmark new defence deal. (Image source: Shutterstock.com)
When the costliest defence project in Australia’s history is focused on just a few coastal locations, a major impact on those local property and rental markets appears inevitable.
Australia will spend up to $368 billion by 2055 to build a new fleet of eight nuclear-propelled submarines, with construction taking place in Adelaide, Perth’s naval base in the south of the city undergoing massive expansion, and Port Kembla
in Wollongong emerging as D…
