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Perth Land dearest in Nation PDF Print E-mail
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Tuesday, 20 April 2010 12:09

Today The West Australian Reports: Perth has overtaken Sydney as the most expensive city in the country to buy blocks of land, with a single square metre of "prime earth" now costing an average of $521. [...] Between 2002 and 2009 the price of land in Perth per square metre climbed 218 per cent, the fastest rate of any capital city in the country.

"Throughout the last housing up-cycle, land values consistently grew at a substantially faster pace than construction costs and the general rate of inflation", says economist Harley Dale of the Housing Industry Association.

No wonder that the wealth gap is increasing and young people cannot afford a home anymore! When will politicians wake up and address this as one of the main issues we need to deal with? When will those who gain huge profits on capturing rising land values be held responsible and speculative bubbles ended?

Speculative value set aside, rising land values are a sign of a blooming community. People want to live here. Can we all have our share of the bounty? Or will we allow our opportunities to be eaten up by parasites and move on to the next economic collapse? That is the choice we face today.

Read the article here.

Last Updated on Friday, 30 April 2010 10:10
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