Take another look at the amount of greenfield and brownfield land inside the metro zones, or the actual occupation rates of housing. Australian cities are not land constrained within their boundaries. (The lack of development of regional areas, access to fresh water or alternate shipping routes is a real but separate issue.)
Besides all that, low capital gains taxes and negative gearing created the investment class in housing. Ie. Those who have 3 or more investment properties as it is now so is a net gain to lose money on a poor rental investment. And banks feed off this investment, valuing properties within the metro areas at ever higher amounts, propped up by low capital gains taxes and negative gearing. It is a vicious cycle of capital speculation.
Even though for pure rental income from a property, regional areas have historically been better investments.
And btw surfers 1. Has the second highest growth in the country 2. Is anything but pleasant.
Besides all that, low capital gains taxes and negative gearing created the investment class in housing. Ie. Those who have 3 or more investment properties as it is now so is a net gain to lose money on a poor rental investment. And banks feed off this investment, valuing properties within the metro areas at ever higher amounts, propped up by low capital gains taxes and negative gearing. It is a vicious cycle of capital speculation.
Even though for pure rental income from a property, regional areas have historically been better investments.
And btw surfers 1. Has the second highest growth in the country 2. Is anything but pleasant.