Australian Specific Market Factors
The Australian market had several features either singly or together are not typical in other housing markets, being;
- No sizable public housing as found in the UK
- Income Tax relief through negative gearing
- Social security (Centrelink) that offers payment including rent assistance that is calculated on the amount of rent paid
- A Federal, state and local council divide that complicates land release and planning and direct and indirect taxation on land
- Only recourse loans
- one of the most highly urbanized populations
- Large areas of rural and remote Australia can not secure loans from banks against land in those areas.
Read more about this topic: Australian Property Bubble
Famous quotes containing the words australian, specific, market and/or factors:
“Beyond the horizon, or even the knowledge, of the cities along the coast, a great, creative impulse is at work—the only thing, after all, that gives this continent meaning and a guarantee of the future. Every Australian ought to climb up here, once in a way, and glimpse the various, manifold life of which he is a part.”
—Vance Palmer (1885–1959)
“Patriotism is proud of a country’s virtues and eager to correct its deficiencies; it also acknowledges the legitimate patriotism of other countries, with their own specific virtues. The pride of nationalism, however, trumpets its country’s virtues and denies its deficiencies, while it is contemptuous toward the virtues of other countries. It wants to be, and proclaims itself to be, “the greatest,” but greatness is not required of a country; only goodness is.”
—Sydney J. Harris (1917–1986)
“At market and fair, all folks do declare,
There is none like the Boy that sold Broom, green Broom.”
—Unknown. Broom, Green Broom (l. 23–24)
“Girls tend to attribute their failures to factors such as lack of ability, while boys tend to attribute failure to specific factors, including teachers’ attitudes. Moreover, girls avoid situations in which failure is likely, whereas boys approach such situations as a challenge, indicating that failure differentially affects self-esteem.”
—Michael Lewis (late–20th-century)