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
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