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Playford expands in anticipation of property boom

Playford is expanding in anticipation of a population boom over the next two decades.

Playford, a local government area of South Australia that is located in Adelaide's northern suburbs, is expanding in anticipation of a population boom.

 

 

It is expected that the area's population of 80,000 will rise to 169,000 by the year 2038, according to the Australian magazine.

 

 

In order for this influx of people to be catered for adequately, office, retail and industrial space will have to increase.

 

 

"We will have ratio growth in proportion to the population expansion," said Kevin Stanley, CB Richard Ellis's director of global research and consulting.

 

 

"If you double the population you double the amount of commercial property that you need," he added.

 

 

Some £11.4 billion (£7.4 billion) is to be spent on infrastructure across South Australia and $336 million of this is to be used in upgrading the Lyell McEwin Hospital in Playford.

 

 

Last month, the Housing Institute Association - JELD-WEN New Home Sales Report revealed that detached house sales decreased in South Australia in April.

 

 

Posted by Ravin Chatlani 

- property, Playford, population, Adelaide, retail, commercial

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