Articles

I need a pay rise. Something deep and structural…

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For our collective angst over Australia’s economic decline, wage growth is an indicator most dreadful. Look into the eyes of stagnating wages growth and see property markets crash, governments crumble, and hi-viz-vested citizens burning bankers in the streets. What the people need is a pay rise. Labour are putting a ‘living wage’ on their flagpole […]

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Andrews Government sells Land Titles Office for a $32m p.a. loss

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The Andrews government have privatised the Land Titles Registry this week on a 40 year lease for sum of $2.86bn. The Government claim that this exercise is to “fund new schools, hospital and transport infrastructure.” Let us be clear, this sale does not fund a thing. State government assets are not magic money trees that […]

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Australia’s economic trajectory

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An article has been doing the rounds – House of Cards – by Matt Burnie and Craig Tindale, that we highly commend. Rarely do articles array so much data in devastating order. There must be over 100 links highlighting the risky nature of our economic miracle from one industry after the other. Whilst the authors […]

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Decentralisation made easy

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As Australian capital cities spill out into their hinterland, our regional cities and towns serviced by good infrastructure are failing worse than ever to attract their share of population growth. Politicians regularly breast-beat about the developmental imbalance, occasionally sending this or that centrally-located administrative department off to the regions in order to redress the lopsidedness […]

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Boom-bust and the Australian banks

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Australia experienced an increasingly gigantic bubble in land prices during the 1880s and the beginning of the 1890s, and the city of Melbourne became bubble-central. Michael Cannon provides an excellent account of the period in The Land Boomers. Henry George’s masterwork Progress and Poverty had hit the streets in the United States in 1879 and […]

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Victoria gets annual land valuations

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The Andrews government has announced State Land Tax will be calculated annually rather than every two years, a painless inexpensive reform Prosper urges all states to adopt. The Valuer-General’s assessment is used to calculate council rates and land tax. Valuers today use computer-assisted mass appraisal to determine what land is worth, so upgrading the biennial […]

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Fishing for a free ride in Macquarie Harbour

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In April last year, the High Court of Australia affirmed the right of a West Tasmanian council to levy rates on the seabed within its municipal boundaries. This precedent means, in a legal sense, land is land, even underwater. It has implications for industrial activity on submerged lands like offshore wind farms, tidal turbines and […]

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Victoria to tax vacant properties into use

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Premier Daniel Andrews announced a range of housing affordability measures Sunday, some of which will help. The eye-opener is the introduction of a Vacant Residential Property Tax at one per cent of the capital improved value on properties held vacant for six months or more. This mimics Vancouver’s Vacancy Tax introduced last November – also […]

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Report Insights on the UN’s Financialisation of Housing

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The UN Special Rapporteur’s Report into the financialisation of housing delivers a damning indictment on the worldwide commodification of housing. The report investigates the state of housing globally, the current economic policy trends to control and shape investment, and the efficacy of those policy measures. Finally the report makes a series of key recommendations for […]

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Value Capture Verve

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Prosper’s recent value capture submission answered pressing questions, an indication of how deeply the Department of Infrastructure is considering this vital funding mechanism. Read the department’s Value Capture discussion paper for an insight into their understanding. Value Capture submission Infrastructure Investment Division Department of Infrastructure and Regional Development February 2017 About Prosper Prosper Australia is […]

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