In 1834, Britain’s Parliament passed the South Australia Act establishing South Australia as a colony. By December 1835, 130 British investors had purchased 437 priority land orders (PLO) at £81 per order, allowing selection of a surveyed one-acre lot in the capital city of Adelaide and 134 surveyed country acres. In March 1837, PLO investors selected 437 lots from 1,042 surveyed Adelaide lots, with remaining lots sold one week later at auction. Investors who sold city lots in 1838/1839 earned on average 35 times initial investment, while investors who held until 1850/1852 saw assessed value of Adelaide lots and buildings increase on average 39 times initial investment in the lot. Initial Investors were generally able to identify higher-value lots, as higher prices paid for lots in 1837 predict higher sales prices in 1838/1839 and early selection and higher prices paid in 1837 predict higher assessed property values in 1850.