Thursday, September 16, 2021

Runaway Land Prices Undermine Housing Utility

Runaway land prices undermine housing utility

Australia’s runaway land prices are akin to a national emergency. An increase of $4 trillion in just the next five years is highly likely.

While meeting the weekly housing payment is our most essential financial commitment, why isn’t housing affordability the most pressing policy issue?

Land price inflation of $600 billion this year will equate to 30 times the size of total banking profits. But our politicians barely raise a sweat over it. One could joke that the only time we hear of a land price crisis is when a wealthy campaign contributor wants their land rezoned.