Australian (ASX) Stock Market Forum

Is S.A. the next boom state?

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What do you not agree with cogidubnus?

Do you think WA coastal land is worth more than inner Sydney land?
 
I think realist has a strong argument. Young well educated professionals will move to sydney for higher wages and more prosperous positions. The only problem is if they are moving there to work they will not buy a property but rent it. Last time I checked the average rental return on a property is far less then mortagage repayments.
 
mime said:
Is South Australia booming like WA? Have prop prices been rising or falling in SA? They have a considerable amount of mining operations right? Could it be the next boom state?
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The SA state budget came out last last week. The state Treasurer Kevin Foley has predicted falls in royalties from mining, or a cooling off. Royalties are projected to fall from $120 million in this years budget to $101 million in 2009/10.

SA Chamber of mines CEO Phil Sutherland said while Exploration was at record levels, it would still be years before compainies went into commercial production. "There's been a lot of rhetoric about a mining boom in SA - but that's not the reality, what we have is an exploration boom" he said. "And there's a lot of projects in the pipeline and if those projects come to fruition then we could see good results but that could be 10 or 20 years away."

With ABARE statisics indicating a slowing Commodities boom, (The Australian, 25th September 2006) maybe you should try us in 5 or 10 years. . . (after the housing correction, and the recession).

In the mean time, our one hit (Destroy contract) wonder Premier Mike Rann will have to deal with electrolux closing, AGL jobs going, possibly Mitsubishi closing at the end of the year (Hope Holden's Gas Guzzler is going strong! – that reminds me – what happened to the third shift at Elizabeth?). This just follows the Mitsubishi engin plant closing, the Mobil refinery just to name a few.
 
"Coastal land is a dime a dozen in Aus, do not fool yourself into thinking it is worth something in Australia. It aint!! It is not desirable land. Desirable land is inner city Sydney, Melbourne and maybe Brisbane. Simple as that. I could buy acres of coastal WA land for what a sh*tty carpark in inner Sydney costs."

Give me one damn example.
 
cogidubnus said:
you are stupid blondie. why wear a wig? not listen to you or your ij :banghead: :banghead: iot posts. go back to skool do u own research ijiot :banghead:
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Cogidubnus

Whilst I see no need to defend Realist in most cases, I nonetheless don't regard him as stupid. He may well be young and with a tendency to arrogance and a sometimes irritating insistence on promoting his view against quite realistic opposition.

At the same time, he has been known to apologise when he sees he has been wrong and that's more than some other posters will do.

If you disagree with him why not put forward your reasons in a manner which we can all look at. Don't just be dismissive and critical without backing up your judgment.

Julia
 
Julia said:
Cogidubnus

Whilst I see no need to defend Realist in most cases, I nonetheless don't regard him as stupid. He may well be young and with a tendency to arrogance and a sometimes irritating insistence on promoting his view against quite realistic opposition.

At the same time, he has been known to apologise when he sees he has been wrong and that's more than some other posters will do.

If you disagree with him why not put forward your reasons in a manner which we can all look at. Don't just be dismissive and critical without backing up your judgment.

Julia
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I apologise to realist. Many people work from home or wherever. If one has suffieceinet skills and nouse, one creates their own work and can find income anywhere.
:cool: I am now in Mount Gambier and looked at lovely lakes this evening.I like SA. Tommorrrow we will drive down along the coast and stop off here and there. It will be fun.
 
clowboy said:
"Coastal land is a dime a dozen in Aus, do not fool yourself into thinking it is worth something in Australia. It aint!! It is not desirable land. Desirable land is inner city Sydney, Melbourne and maybe Brisbane. Simple as that. I could buy acres of coastal WA land for what a sh*tty carpark in inner Sydney costs."

Give me one damn example.
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I know an area in Kimberlies that is beuatiful. I will go there.
 
clowboy said:
"Coastal land is a dime a dozen in Aus, do not fool yourself into thinking it is worth something in Australia. It aint!! It is not desirable land. Desirable land is inner city Sydney, Melbourne and maybe Brisbane. Simple as that. I could buy acres of coastal WA land for what a sh*tty carpark in inner Sydney costs."

Give me one damn example.
Click to expand...

An example of overpriced Sydney land or underpriced WA coastal land?

Believe me I take no pleasure at all in Sydney being expensive, quite the opposite infact, but there are 4.5M people so land is relatively scarce and expensive, and at the moment after 3 years of falls in NSW, and WA more than doubling it is obvious that Sydney has room to go up and WA has room to go down. We'll have to wait and see what pans out...
 
suposably both,

if sydney carparks cost so much more than acres of wa coast then either shouldn't be hard to give an example of.
 
Hey Mime..

mime said:
Is South Australia booming like WA?
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Nah, I don't think so.. too much unemployment and uncertainty.. I grew up there and often return to catch up with the family and friends.. Many are too worried about thier jobs to make too much of a commitment. The mentality has been that way since I can remember and oddly still seems to be widely adopted..

Hey Stop the Clock..
Stop_the_clock said:
So I reckon there aint much left in the tank even with a mining boom and a defence force boom.
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What's the story with the 'Defence Boom'?? Can you elaborate for me?? Seriously, not taking the rinse..

Hey Realist..
Realist said:
Despite what you may think people do not flock to nice beach towns to live, only retired people do. The very opposite happens people leave beach towns to go to the city. That is why WA is completely empty, yet London, Melbourne, Bangkok, Tokyo, New York are packed!!.
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Hmmm.. Can't say I agree with that.. If ONLY WA was empty.. I'd invite you over to have a bit of a look, but I note you're currently waiting on the doorstep for a visitor.. :) I can assure you WA is not empty, and similarly the coastal areas are in huge demand.. Interestingly, I've been to all the cities you list as being packed and they are.. They are also places that I wouldn't consider that you 'live', like Sydney you simply exist, you don't live.. Worse, you don't realise it until you get away from the rat race.. :)

Realist said:
There is plenty of empty coastline and beach areas in the US, Europe, Asia and especially Australia for people to live - the simple fact is few want to live there.
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Again, dunno if I can agree with you here. I lived in California (San Diego) for a little over a year, (nice little spot on Coronado..) and made some friends, a couple of which were real estate agents.. thier advice was to buy 'coastal' property as fast as you can get hold of it. They cited California as an example, as it's near impossible to buy there now.. I think you'll find the very bloke you quote (Warren..) in your tagline even owns a number of properties on the coast of California.. spent some time in Virginia and much the same story, and even Illinois (Chicago) had the 'Lakeside' properties that were difficult to get your hands on..

Obviously can only discuss places that I've actually been so can't talk from experience about alot of the US or Europe.. wouldn't presume to make general statements about places I haven't been.. :)

Cheers,

Buster
 
Buster said:
What's the story with the 'Defence Boom'?? Can you elaborate for me?? Seriously, not taking the rinse..
Click to expand...

$120,000 on Foley's US talks

Details of the three-week mission in late June and July have come to light following a Freedom of Information request, after several unsuccessful attempts to obtain Mr Foley's itinerary. The entourage travelled through seven US states to meet the heads of some of the world's biggest defence companies. . .

but this sums it up :

While no contracts were signed, Mr Foley said negotiations were positive for SA to gain a share of $51 billion of Federal Government defence contracts over the next decade.

or maybe it's Rann's Air Warfare Destroyer Contract :

Hundreds of whitegoods jobs to go

He said the downsize was just another warning on the state of the economy, with the Government relying on the Air Warfare Destroyer Contract, a Federal Government decision, to boost economic development.

Can't see a boom. Maybe the 100's who lost jobs at electrolux could fill the gaps if we ever get the Air Warfare Destroyer Contract?
 
Buster said:
Hey Realist..

Hmmm.. Can't say I agree with that.. If ONLY WA was empty.. I'd invite you over to have a bit of a look, but I note you're currently waiting on the doorstep for a visitor.. :) I can assure you WA is not empty, and similarly the coastal areas are in huge demand.. Interestingly, I've been to all the cities you list as being packed and they are.. They are also places that I wouldn't consider that you 'live', like Sydney you simply exist, you don't live.. Worse, you don't realise it until you get away from the rat race.. :)
Click to expand...

Is not Perth the most isolated city in the world?

And WA has more area per person than any other state/country in the world?

I am quite sure WA is the emptiest place on earth, you may not think so living there but I can assure you after living in Sydney and going to Asia and the US Perth felt damn empty when I was there!!

Has Perth ever even had a traffic jam? :D

Everyone likes where they live, and they think they are better off than others. I was in Singapore a few weeks back, they all kept telling me how nice and safe it was and how lucky they were. I perceived it to be a large business park and possibly the most boring country in the world - not that I told them though. I am quite sure alot of them felt sorry for me living in Aus - seriously!! Just like you guys in WA feel sorry for the people living in cramped, dirty, overcrowded apartments in Sydney..hahaaa
 
I agree with wayneL. lets get back to the next boom state discussion!

Realist, i have lived in sydney for most of my life and wouldnt live anywhere else, this city is magic (and i've made more outa property here than anywhere else), however, it may not be magic for everyone so you cant keep trying to convert the non-believers. Each person knows what his/her own piece of heaven is.

cheers,

doc
 
Over the past couple of years ...WA had the trifecta: Low interest rates, under-valued property and a mining boom in the making.

SA does not have the same luck now as the dynamics have changed. Interest rates have risen and property prices have also risen so I just cannot see that boom.
 
mime said:
Is there anyone from S.A on this forum who can give their opinions?
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mime SA property has been booming for the last 6 years, and probably reached its peak. Yields are pretty low (like the rest of Aus), but property is relatively cheap compared to the eastern states.

As far as mining goes, from what I have read SA is relatively unexplored and there is a lot of exploration going on, but investment and production is what moves money into the economy.... olympic dam (BHP) and prominent hill (OXR) will probably be the biggest investments, but are years away. Iluka also have some mineral sands stuff going on.

The prop investors will look for reasons for property to go up, but I can't see it happening, affordability still at record lows - and if rates keep going up it will go lower.... I would still be surprised if Aus doesn't go into recession in the next few years, and if so - I can't see a boom coming until after this event. People general find things less affordable in a recession, but the last one was too far away for most people to remember.
 

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