It is the worlds 4th most densly populated place, and if you took out all of the land left to nature reserves and water catchment would surely be the most densely populated.
Imagine what it would be like if they had 1 McMansion per 2.3 inhabitants!
Shows how f***ed up our prices are that people like you feel compelled to make comparisons with places like Hong Kong to justify our outrageously stupid prices
And then on top of that we have all that land beautiful land component that our houses sit on even in our most densely populated cities. When compared to our international peers Australian property has exceptional value.
And then on top of that we have all that land beautiful land component that our houses sit on even in our most densely populated cities. When compared to our international peers Australian property has exceptional value.
You're so right barfon, it's amazing they have remained so cheap for so long!
By your logic and that of this article Australian housing is undervalued by 22 times, so rightfully Melbourne should average $19mil and Sydney around $24mil so huge capital growth opportunities exist.
And on the subject of interesting numbers in China, once you get your head around the fact that the number of Chinese that will start travelling internationally is going to double then you will really see what is about to unfold.
The number of overseas trips made annually by China's 1.36 billion people now equates to a market penetration rate of 9%. This frequency compares with a 38.3% penetration rate for international travel among South Koreans and a 56.1% rate for Taiwanese. There is clearly plenty of room for Chinese outbound travel to grow.
$20,000 per square meter of the 265 square kilometres in Hong Kong available to be built upon!
Imagine how much Australian land would be worth if we were all squeezed into living on 265 square kilometres?
Sydney's 12,368 square kilometres of Land alone would be worth a fortune hey!
God property investors are dumb!
The land values where 7.5 million people squeeze into 265 square kilometres of Land can't be equated with a country where 10,000,000 live on 20,000 square kilometres in its two biggest cities alone, the remaining 12,000,000 or so living on vastly greater amounts of land. The dumb thinking being exhibited on this page would mean my land holdings would be worth $20,000,000,000.
The land values where 7.5 million people squeeze into 265 square kilometres of Land can't be equated with a country where 10,000,000 live on 20,000 square kilometres in its two biggest cities alone, the remaining 12,000,000 or so living on vastly greater amounts of land.
And every year, we open up more and more of it by building better roads, speeding up commutes.
And as we continue to automate and improve communications, the need to commute to a central location will be reduced.
We have a lot of land here. We live on a tiny fraction of it.
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be rising.
There are some interesting observations to be taken from the thread here, and some interesting things to consider. Firstly we see the size comparison for some hk residencies compared to our own, and some comments reguarding population and area size also compared to our own.
And we often see the comments on here about a higher population equating to higher prices. And looking at hk, or Sydney or Melbourne for that matter, they seem to play out along the lines of these comments. But when we look at the US by comparison, the argument that its not the rising population, its wheather you have jobs for these people seems to ring true. Not only have US rates been near zero for almost a decade, but the population has grown by around 22.5 million people over this time, equivalent to our entire population, on an area of land that is not really much bigger than our own. Yet since the gfc, and extented period of near zero rates, and the population growth, only a handfull of capitals have exceeded their previous highs, and not by much, with the majority still below the prices of ten or more years ago.
Why has the population argument not worked for prices in the US ?
Would it be more to do with population growth, or jobs and wages ?
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