Fundamentals of House Price Inflation
From The Australian:
According to a report commissioned by the Property Council of Australia, government charges associated with a typical house and land package had risen an average of $77,000 since 2000.
In southeast Queensland’s Redlands Shire those charges had soared 583 per cent in five years to $135,799, while government charges on a house and land package in Adelaide rocketed 331 per cent to $53,003.
But the problem was most pronounced in Sydney’s northwest where 35 per cent - or almost $200,000 - of the price of a new home was eaten up by government charges.
In comparison the cost of the land was only $116,667…
In the five years to 2005 government costs associated with buying a house and land package in northwest Sydney grew 197 per cent to $198,670.
In Melbourne and Canberra those costs grew 146 per cent to $91,135, and 237 per cent to $108,011, respectively.
posted on 28 March 2006 by skirchner in Economics
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