In Sydney where the ABS says established houses are a median $670,000, at least $64,000 of that is due to ‘gearer competition displacing homebuyers via price. Given Sydney is ground zero of ‘gearer displacement, this is likely a gross underestimate of the price consequences.
Sorry Australia. We won't be turned into slaves to keep your worthless property bubble afloat.
If the RBA and our economic mandarins observe a national strategic advantage they have an obligation to foster it and deploy it to the advantage of all. One of ours is space. We have chosen to welcome migration, dig up minerals, grow crops and animals – but also to strictly ration by price the access to land for young adults.
The Napthine government is determined to limit land supply and thereby further increase the cost of land for all in Melbourne.
The price of freshly subdivided land on the outskirts of cities reverberates and amplifies all the way to their centre. Constricting supply has profound implications.
The good data provided by the ABS boosts buyer confidence and actually lifts land prices. Their absence after the Abbott Government’s cost-cutting can only reduce them. This may even be the pin that pops the land bubble.
Press Release The Abbott government must rebuild State relationships by assisting in the educative process of tax reform. “The outsourcing of deficit pressures by Treasurer Joe Hockey has accelerated the need for state revenue reforms” stated Prosper Australia spokesman Karl…
A budget for the people by the people may well see some of the following policy reforms announced at tomorrow night’s State budget: Reiterate Local Council financial independence The Labor Parties naivete in announcing a proposed cap on local council…
WA Treasurer Mike Nathan has heard the call from REIWA President David Airey to end Stamp Duty and fund this by removing exemptions from State Land Tax
Each day passes with policy enhancing the never ending Great Australian land bubble. Three of note include: the recent sale of $500m in Australian sub-prime loans by non-bank lender Pepper (AFR, paywalled), bundled together as Residential Mortgage Backed Securities. Moody’s…
Yesterday REIWA president David Airey issued a call in the West Australian newspaper for the WA government to abandon Stamp Duty and fund this by removing the many wheezes from the tattered State Land Tax. Hooray! Airey says: “It’s time…