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A Proven System to Achieve the Best Price for Your Property - Stress
Free by the Experts |
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Population, Immigration and Housing Prices The last ten years has seen an increase in the number of migrants coming to Australia. The resulting population increase is a primary factor in the increase of housing prices. Because Australia's population is concentrated around the coast and there are many arid and unliveable parts of the country, there are a lot more of us competing to live on the same pieces of land and wanting to enjoy the same views. With the lid coming off the lending limits and a soaring population in recent times the residential property market in the cities and by the sea have reached to previously unimaginable highs. Demographia, a report that compares residential property prices in The United States, The United Kingdom, Australia, The Republic of Ireland, New Zealand and Canada found that towns by the sea like Los Angeles, New York and Sydney are the most expensive places to buy. On an income to housing price comparison it takes an Australian 6.2 years of salary to buy a house, in Britain it's 5.2 years and in the U.S.A. it's 3.5. Thus Australians are paying the highest prices in the world to achieve their dream of owning a house. Releasing new housing land is to a large extent about expanding our cities so they can accommodate Australia's rapidly growing population. Releasing new housing land is about "making room" for homebuyers who want a decent yard, often at the cost of long travel times. If national policy continues to boost Australia's population with record levels of immigration (a million or so per decade), the pressure to expand the periphery of our capital cities will remain intense. Better transport and infrastructure will remain the key to allowing those living on our urban fringes access to the high-paying jobs and the educational and leisure opportunities our cities have to offer. Unfortunately for aspiring first home buyers, the areas on the periphery that suddenly benefit from improved access via better rail links or new freeways will see land prices jump and affordability fall. |
T E S T I M O N I A L S "Thank you for making the sale of father's estate properties so easy at such a difficult time."
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