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:
“Each Australian is a Ulysses.”
—Christina Stead (1902–1983)
“In effect, to follow, not to force the public inclination; to give a direction, a form, a technical dress, and a specific sanction, to the general sense of the community, is the true end of legislature.”
—Edmund Burke (1729–1797)
“Ae market night,
Tam had got planted unco right,
Fast by an ingle, bleezing finely,
Wi’ reaming swats that drank divinely;”
—Robert Burns (1759–1796)
“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–?)