Australia's population balloons to 21.8m

Hooray, I've been to all those places except for Singapore. I did say I was Chinese right? So I guess I know the mother of all densely populated places.

Sure, I could expand your list with places like Mexico City, Hanoi, Saigon, Seoul, Karachi, Bombay, Calcutta, Dhaka etc. but I would be here all day.

What I was trying to say was all in relative terms. A Melbourne population of 6 million may be FAR WORSE than a 10 million in Hong Kong because we as Australians demand that we need sufficient land to have pets running around and room for the BBQ, a rumpus room, study etc. and seriously, how many families are there in Australia (the generic nuclear family of 2 adults, 2 kids) that live in a 2 bedroom flat?. In Hong Kong, you could have stuck 6 or 7 people with that room. In places like Hong Kong, the immense population density may not be so obvious because the city is an apartment metropolis. I would be like 'wow' if I stumble upon someone who lives in Hong Kong and tells me they actually have grass and vegies growing in their backyard garden (sarcasm of course). I guess it all comes down to expectations...putting another 1 million people in a place like Hong Kong would probably only make a marginal difference (they would just build a few more Eureka's and stick 10 people in each apartment) but in Melbourne, you increase the population another 1 million and you would have lobbyists, academics etc... right at K Rudd's front door (probably Brumby's actually) demanding all these infrastructure upgrades, transport planning, urban boundary management etc.

I know owner occupiers do not pay capital gains or land tax. It was not only homeowners, but investors I was trying to include. But I agree my examples was a bit all over the place...I should have added stamp duty to cover myself! hahaha
 
DeeHwa,

Welcome!

A few excellent posts. You've only just arrived and already I can tell you've got your head screwed on properly and should do very well investing in the great Aussie dream.

Your point is well made, and one I personally adhere to 100%.

Kudos to you.

Cheers,
Michael
 
Yes I too wonder if the Great Aussie Dream is going to continue in our big cities when it will now be a 50sqm unit in Granville...

Under what is being proposed I don't believe that Sydney/ Melbourne will be the desirable locations they are now. They will be VERY different places. Some parts will remain special but only for the very rich. The rest of the city will have a different face in years to come.

I also wonder if the infrastructure can keep pace, its hardly doing that now. Many things will have to change and I wonder if the current Politicians on both sides have the ability to make it happen. Very interesting times ahead.
 
Population growth, arguably, is one of the main factors which fuel property prices

Too right DH and, as you allude to, the failure/sluggish pace of required changes in development planning and infrastructure to increase densities, as well as the stagnation of new construction, is stifling the supply of new dwellings where most people want and need to live. This will ensure that competition for the pool of dwindling available stock grows - especially during a population boom. Hold on to your hats and properties - and enjoy the ride. How can there NOT be strong growth in the next few years.

Welcome to the forum. :)
 
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