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Beyond the expected

Average first home hits $400,000, half of it in tax

By johnboy 12 October 2011 22

The Liberals’ Zed Seselja is hooting and hollering over new data he’s obtained showing the average first house now costs more than $400,000, with the median at $395,000.

“The average first home now costs more than $400,000, with the median price up to $395,000” Mr Seselja said.

“We also know the average home has around $190,000 in tax alone.

“These numbers are further evidence that first home buyers are suffering under the ACT Labor Government.

“First home buyers are being locked out of the housing market under ACT Labor due to restricted land supply, a broken planning system, poor infrastructure delivery, high taxes and a lack of competition.

“The Canberra Liberals believe the solutions to these problems should include a genuine land bank, which would have a pool of land ready to release, infrastructure improvements, taxation reform, streamlining the planning system and improving competition in the market.

“Since ACT Labor came to power, property rates and charges have increased by over 75 percent and rents have increased by 68 percent.

“Coupled with huge electricity and water bills, Canberrans are hurting financially more than ever before, and are finding it harder and harder to enter the housing market as a result.

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Average first home hits $400,000, half of it in tax
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Chop71 5:01 pm 12 Oct 11

Grail said :

And of course all this talk about housing affordability entirely avoids any mention of securing water resources, expanding the sewage treatment works (it was designed to be expanded twice using the existing design), raising population density in existing residential areas, discouraging one-person-per-car commuting, or addressing the simple question of “how many people can this country sustain, given our natural resources?”

Perhaps there is no “housing affordability” issue. Perhaps there is instead a “too many people” issue.

In one of the least populated countries on the planet? Hell, we just managed to find one of the biggest iron ore deposits because a guy looked out the window of the plane… hello Fortescue, and thank you China.

Maybe if we all didn’t have to live on the east coast (and in cities) then prices would come down.

Deref 4:55 pm 12 Oct 11

Whoops. That’ll teach me to read all the posts before responding. 🙁 Sorry.

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