Valuation of Property and Its Factors
The figures for the frame area around the heart of the City are also at a seven-year low. Mr Moulds said that the continued fall in vacancies reflect the strengthening interest in the advantages of a CBD location and should encourage the government and the City council to continue to pursue aggressive business attraction schemes for the State’s capital Mr Moulds said that the vacancy rate in the central part of the city now stood at 16.8% and the frame area at 11.8%.



The fall in these figures were partially offset by a slight rise to 11.9% vacancy in the fringe office area surrounding the city. Business is now taking advantage of the quality space available at competitive rates in the CBD While Adelaide’s vacancy rates remain the highest of the mainland’s capitals, it was one of the few CBD’s to record a consistent fall in the past 12 months. Mr Moulds said the interest in quality space continues to be high and only 1,000m² of premium quality space was available in the CBD in December.

Mr Moulds said these figures should also be read in conjunction with recent strong investment activity in the Adelaide commercial market. Recent sales figures for 1998 showed continued strong growth following a buoyant 1997. Two in three Australian adults own a $73 billion stake in our commercial property market, according to a report released in Adelaide today. The Property Council of Australia, the Shopping Centre Council of Australia and the Investment Financial Services Association commissioned the joint six-month study. When you walk into your local shopping centre, factory or office block, chances are you own a stake in it," Ms Schwartz said

Significantly, most people don’t know where their superannuation money goes every week and certainly don’t know they are part owners of the large properties they work, shop and holiday in. Whether you’re a builders labourer or a company executive, you are likely to be a property investor. Householders currently hold more than 24 million investor accounts and many of them don’t even know it.More than 80 per cent of the nation’s workforce contributes to a superannuation fund," Mrs Ralph said. When you add up the figures, the average Australian worker has almost $5000 invested in commercial property of some kind through their superannuation.

Retail and office property is by far the most popular choice for investors, with up to 88 per cent of funds poured into these developments. Industrial and hotel property make up the balance. For dependable and profiting reports, you must take administrations from expert property valuers.

Governments and parliaments must realise that anti-property policies and laws hit ordinary Australians not just the "usual" multi-million dollar companies which politicians generally perceive as the typical owners of major commercial and retail developments. The Property Council of Australia has called on the South Australian Government to rule out levying stamp duty on top of GST inclusive prices – a policy that will increase the cost of a new home and rental costs for small businesses.