"However we don't have the split land/house purchasing like in the UK"
Of course you do [1], and it's even very common. My cursory Google search shows that in Victory, the state with the most private ownership, 40% of all land is lease hold. Other states even more! The whole city of Canberra is leasehold. That said, it's mostly leases of Crown land, so the economic incentives are a bit different from leasing land from a private owner.
Hey, no fair taking away this part of my comment! "(or it's not very common at least)"
But when you say "40% of all land is lease hold" - are you talking all land now? I was talking about residential housing, and should have made it clearer I was talking about the domain I am used to, i.e. houses in major cities, i.e. in my case Brisbane, Sydney and Melbourne. Having a quick google around and it looks like in rural areas leasehold is more common.
Interesting to learn more about this stuff, thanks for the link.
Of course you do [1], and it's even very common. My cursory Google search shows that in Victory, the state with the most private ownership, 40% of all land is lease hold. Other states even more! The whole city of Canberra is leasehold. That said, it's mostly leases of Crown land, so the economic incentives are a bit different from leasing land from a private owner.
[1] http://www.actpla.act.gov.au/topics/property_purchases/lease...