Seize the Moment: AUKUS Submarine Project Brings Lucrative Property Investment Opportunities in South Australia
    • 22 March 2023

    Seize the Moment: AUKUS Submarine Project Brings Lucrative Property Investment Opportunities in South Australia

    Investors should take note of the potential property investment opportunities that may arise from the proposed AUKUS submarine project. This massive undertaking is projected to cost over $300 billion in the next three decades and will have a significant impact on the local property and rental markets in the suburbs that will house the new workforce. The construction of eight nuclear-propelled submarines will take place in Adelaide, Perth, and Port Kembla and is expected to generate over 8,000 jobs in South Australia alone. The Osborne shipyards in South Australia will receive around $2 billion for expansion, resulting in direct and indirect economic benefits of about $200 billion in the next few decades.

    The surge in employment opportunities is expected to have wide-ranging impacts right across the Adelaide Housing Market, particularly affecting properties in the north of Adelaide. The creation of so many jobs as well as demand from interstate investors will likely translate to continued success for owners of Adelaide property

    Furthermore, the AUKUS submarine project is expected to affect the local property market and the area's infrastructure and businesses. This long-term project will boost the South Australian economy and property market, increasing the area's confidence and growth. The focus on Garden Island, Western Australia's most extensive fleet base, and the nearby suburbs of Rockingham, Safety Bay, Waikiki, and Shoalwater will lead to an influx of workers and increased demand for housing in those areas.

    Although the impact on the local property market may not be immediately felt, the rise in competition for properties and potentially higher prices is inevitable in the long term. However, broader economic factors such as interest rates and overall market conditions may temper the impact. Nonetheless, the AUKUS submarine project is expected to positively impact the Adelaide Property Market, making it an attractive option for investors to consider investing in this area.

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