There is one key fundamental driving the real estate market, Australia's population growth.
We are in 3rd world territory as far as population growth goes,
We have just topped 1.9% growth !!!
source:#10;http://www.aph.gov.au/library/pubs/MSB/71.htm</a></p> <p>Even in the midst of a recession we are bringing in plane loads of people here each week. And the Victorian Infrastructure Plan is based on higher immigration than ever seen before here. See <a href=" http:="">Report on the Victorian Transport Infrastructure Conference
Most immigrants end up in the suburbs of Melbourne and Sydney, these new immigrants are definitely supporting the real estate market of the big capitals.
Also note that I know areas that have many empty houses. They are in areas on the coast and inland, places like Lorne and Daylesford. The houses are owned by Melbournians and used as weekenders. I was told by a resident of Hepburn (next to Daylesford) that the census showed a very small proportion of permanent residents, with most houses owned by out-of-towners, used only on the weekend. Of course there would be some empty dwellings in the areas of highest demand (less than 15km from CBD), but not many, and I would bet more on the urban fringe.
Of course they are not anywhere near most jobs, markets or public transport.
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Vivienne (not verified)
Wed, 2009-06-17 21:40
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World's population will blow-out before the next millenium!
Al Bartlett, Professor Emeritus of Physic, University of Calorado Boulder in United States, has stated that in 780 years there will be only one square meter for each person on the planet's land at our rate of population growth! It is clear that this human density will never be achieved as our ecology will be depleted long before this!
The things that we feel good about, such as family size, immigration, good health etc will be the factors that actually make our species come to their conclusion even faster. The things we don't want, such as zero population growth, high mortality etc, the factors that will help us in the long term.
We will not make it to the next millenium! Is the human race so blinded that they are heading faster towards mass suicide?
Albert Bartlett: "Can you think of any problem in any area of human endeavor on any scale, from microscopic to global, whose long-term solution is in any demonstrable way
aided, assisted, or advanced by further increases in population, locally, nationally, or globally?"
Our Government keeps adding more people to Australia. Do they fail to understand the exponential functions of growth, or are they just going ahead "business as usual" until the next election knowing that they are contributing to our final demise?
Professor Bartlett's web site
Sheila Newman
Thu, 2009-06-18 15:32
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Addiction
Macca
Thu, 2009-06-18 23:17
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Well said Sheila
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