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)
“No more distressing moment can ever face a British government than that which requires it to come to a hard, fast and specific decision.”
—Barbara Tuchman (1912–1989)
“The market came with the dawn of civilization and it is not an invention of capitalism.... If it leads to improving the well-being of the people there is no contradiction with socialism.”
—Mikhail Gorbachev (b. 1931)
“The economic dependence of woman and her apparently indestructible illusion that marriage will release her from loneliness and work and worry are potent factors in immunizing her from common sense in dealing with men at work.”
—Mary Barnett Gilson (1877–?)