House land values in different States! Melbourne Boom!

Today,’I am researching why is Melbourne booming? I have noticed that the cost of land is so much cheaper in Melbourne. Obviously, this impacts the home final value.   In fact it has a compounding effect. Popular press note from the REIV, that the development of house lots in Sydney 2008 at 2,100 in Melbourne at 16,020 in Brisbane at 11,000. The comparable development charges per lot at $99,800, $29,750,  $43,238.
I  claim this goes a long way to explaining the lower cost of house and land packages in Melbourne. Melbourne has plenty of acccessible and nearly flat land in the Western, Northern and South East growth corridors. This goes a long way to explaining the cost of a House and land package at $600,00 in Sydney, compares to $320,000 in Melbourne.

I claim Melbourne is winning a rising rate of interstate immigration from home buyers.
The Victorian government is moving to doubling the Infrastucture capital works levy on land.  Surely this can only increase the cost of land.
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Population Pressures on the House Market!

Well strike me , flat out like a lizard drinking!!!: popular press is advising that the Australian population grew a  ”remarkable ” 452,000 last year alone. This is close to double that of only three years ago. At this rate it suggests an extra one million Australians every two and a half years. Simple arithmetic  tells one, we will reach 38 M by 2050, yes, even higher than government forecasts!

This topic has generated some recent political debate: it has become a hot on radio talk back, especially since the release of the Intergenerational report.
Research, shows that student numbers have certainly doubled over the last three years to reach a level of 630,000, the most popular subject for study is English, which can be so handy for residency applications.

Some of the 900,000 expatriate Australians are also returning from overseas, due to lower income taxes in Australia, the stronger Australian dollar and the opportunity from a growing Australian economy.
Until recently, New Zealanders had rights to unrestricted entry, so who knows how many Australians are from NZ : Certainly the government doesnt know!

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An Idea on the Melbourne house property boom? Why ?

Today, newspapers are reporting week after week of rising Melbourne home values and premiums achieved at auction. What does it all mean ?

1   The population of Melbourne is booming by growing at 1800 a week.

2   This is considered to be double that of only five years ago.

3    Builders are having difficulty finding finance. They are not building enough to meet the house demand.
4    The changed FIRB {Foreign Investment Review Board} guidelines for foreign buyers, has allowed a sudden rise is in overseas buyers. In some areas, these new buyers can account for up to one third of all buyers. This is having a disproportionate effect at the public auction sales.

5   Why is Melbourne so popular? Well all the factors we have always know are becoming more important. Melbourne has great tertiary education institutions, and compared to Sydney, stronger State government leadership!, better public transport {Melbourne is to build several new train stations}, much cheaper land, better hospitals, easier roads congestion and great beaches. I argue there is major interstate immigration from other Australian states. This will take time to be confirmed with government statistics. Then we will be increasingly, be made aware, just why so many Sydney developers including FKP, Devine, Mirvac, Lend Lease, have moved their emphasis of land and homes development to Melbourne.
6  One can still buy a brand new 3  Bed room brick home for around $ 310,000, in Carrum Downs, Skye, Pakenham, Wyndhan Vale, Melton or Tarneit, where similar homes in Sydney would be $600,000.

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Design your investment home Property market ideas

Reading the popular press one will notice  all sorts of “reasons” why house prices are rising,
1   Immigration is above many expectations adding to the total population growth of 435,000 last year. While the resources states of QLD  and WA are the fastest growing, somewhat suprizingly, Victoria is also growing fast.

2   Melbourne, in Victoria had the fastest price rise with house values up 19% over 2009.
3   Some experts are now quoting returning expatriate workers are boosting the market. Readers will be familiar with this theme. Where, I claim some 900,000 Australians are working overseas. Given Australia is one of the fastest growing developed countries a fair portion must be expected to return, as Australian income tax has fallen and the A Dollar is up.

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4   Recently, some of the government plans to double public transport for instance is generating confidence in Victoria.

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Extra fast new easy home construction renovating ideas.

Have mentioned some areas before. Here are some extra ideas.

1  Renovate the laundry. Installing an energy,efficient appliances, it might even pay for itself with energy/water efficiency ratings a new washer/dryer combo, can lift a laundry. These are available on excellent deals, given the slower economy of today. In the USA, often the laundry can be moved into the garage, as a way to free up extra room for living in the home. In the UK, often the Laundry appliances are incorporated in the Kitchen.

2  A home bathroom addition can be as simple as employing a resurfacing contractor, or tiler. They can complete their work in a single day. They will do an inexpensive, transformational makeover, both cheaply and efficiently. Their respray products will transform the colour and finish of a bath, hand basin and tiles in a day. The addition of new door handles, a heater,exhaust fan and heated towel rails, will lift a bathroom dramatically. No one, wants a cold clinical bathroom, some heating does wonders for comfort and reducing mould. Some larger windows and a skylight will add both light and warmth to a bathroom.

3  A garden addition can be well worthwhile, especially a front garden, as it will lift the Street Appeal of a home. The garden can highlight the home. A garden can be a haven and a revitalising and refreshing area. Given the recent water restrictions, the home with a vigorous and lush garden can be seen as a luxury feature:a sign of a well cared for home. A lush garden can be an area of peace and tranquility. Consider, gardening is rated as Australia’s number one outdoor recreation activity. The latest relaxation of the tight water restrictions has been measured to add hundred” s of millions to the State economy.

4  A kitchen makeover/addition can be one of the best ways to add value to the home. The current trend is to establish an open plan kitchen. A good cleaning, painting, some new granite bench tops, new lighting, splash backs and door handles can revitalise a kitchen. I always renovate the kitchen, as I see it as a major feature area. Building an open plan kitchen with a view from the kitchen food preparation area. No one wants to be enclosed in a kitchen, away from the guests and family. I understand in the USA, that a kitchen has become basically a wall of appliances in the dining area. Knock down a wall enclosing an old kitchen, install an Island bench space and modern cupboards. A new kitchen is one of the best renovation projects. Kitchen companies are offering excellent deals including discounts on appliances at the moment, due to the slower economy.

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