Monday, April 23, 2007

A peek into the future?

Cashed-up southerners to force out city dwellers

A look at how high house prices, and high rents, are forcing low income families to live in tents down under. Oh what a good Idea it was to let Mr. Markets (and the men who fix them) rule the World! 'Mr Pisarski said Queensland's problem was being compounded by a population surge, an ageing community, the lowest public-housing base in Australia and an expensive housing market. "Because we have an affordable housing crisis in Queensland, lots of middle-income families can't find places to live," Mr Pisarski said. Hmmmm

Posted by ticktock @ 09:13 PM (544 views)
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5 thoughts on “A peek into the future?

  • It is very interesting seeing what is happening in Australia as they have a very similar property market in the cities as the UK. Buy to lets, high multiples, obsession with property and similar economic growth etc etc and 4 rate rises in the last year or so. However I think their market is a year ahead. At the moment Sydney’s general property market is very flat with falls in less desirable suburbs and reasonable growth in desirable locations, Melbourne is similar but stronger with desirable areas still seeing double digit growth. The Au dollar and pound have a narrow range reflecting similar views of inflation.

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  • I blame the supply side. I mean, there’s just not enough land in Australia for the size of the population.

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  • Good point Royston – clearly over populated

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  • Nice one, Royston. Australia should be the one-word answer to anyone pedalling the lack of supply nonsense.
    In a free market, why on earth would any builder take on more costs to build enough houses to reduce prices, hence profits, hence share prices? Cut the overheads (workforce), build less and watch the market (and your profits) soar!

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  • I have found the same in New Zealand press too. Its seems to an OECD thing doesnt it? Funny that.

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