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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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, 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 {Foriegn Investment Review Board} guidelines for foriegn 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 in Sydney would be $600,000.

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