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Road to riches for South Coast

1 August 2014    

This weekend’s opening of the Southern Expressway after its $400 million-plus duplication creates a “road to riches” for the economy and community of the Fleurieu Peninsula, says the region’s largest property agency.

The Principal of Harcourts South Coast, Mr Mark Forde, said the forecast reduction in travel time of about 13 minutes would place Victor Harbor within an easy hour’s drive of the city, signaling the start of a realistic ‘commuter culture’ between Adelaide and the South Coast.

He said the duplication would also build and sustain economic growth in Adelaide’s southern commercial and industrial areas like Reynella, Lonsdale and Noarlunga Centre , providing additional work opportunities within 30 minutes of the South Coast towns of Victor Harbor and Goolwa.

“We are already seeing families moving to the South Coast for its lifestyle advantages with workers commuting across the Willunga Hills to work,” Mr Forde said. 

“This is only likely to increase as the southern metropolitan economy grows.  In turn this will drive further demand for workers based on the South Coast – particularly in service industries such as education and health required to support the growing number of families.”

Mr Forde said developers and investors had been quietly moving into the South Coast over the past decade to take advantage of the region’s growth potential.

“They are realising the comparative value of Encounter Bay, Victor Harbor, Hayborough, Port Elliot, Middleton and Goolwa compared to coastal markets in similar proximity to Melbourne, Sydney, Brisbane and even Perth,” Mr Forde said.

“South Coast residential vacancy rates are very low, signalling the need for additional housing stock while major developers such as Hickinbotham Group and Adelaide Development Company have existing subdivisions and significant landholdings for future development in the wings,” Mr Forde said.

Mr Forde said Victor Harbor and the Fleurieu Peninsula had been identified as being among
Australia’s strongest population growth centres between now and 2050.  The National Sea Change Task Force has forecast the region’s population will swell from 40,000 currently to about 150,000 by 2050.

INTERVIEWS:  Please contact Mark Forde on 0417 833 296.

ISSUED BY:  Hughes Public Relations.  Contact Tim Hughes on 8412 4100