this post was submitted on 04 Oct 2023
22 points (100.0% liked)

Australia

3520 readers
144 users here now

A place to discuss Australia and important Australian issues.

Before you post:

If you're posting anything related to:

If you're posting Australian News (not opinion or discussion pieces) post it to Australian News

Rules

This community is run under the rules of aussie.zone. In addition to those rules:

Banner Photo

Congratulations to @[email protected] who had the most upvoted submission to our banner photo competition

Recommended and Related Communities

Be sure to check out and subscribe to our related communities on aussie.zone:

Plus other communities for sport and major cities.

https://aussie.zone/communities

Moderation

Since Kbin doesn't show Lemmy Moderators, I'll list them here. Also note that Kbin does not distinguish moderator comments.

Additionally, we have our instance admins: @[email protected] and @[email protected]

founded 1 year ago
MODERATORS
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
22
Property values are tipped to reach a new high. Here's how much prices have risen in each capital city - ABC News (www.abc.net.au)
submitted 11 months ago by [email protected] to c/[email protected]
8 comments fedilink hide all child comments
you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 6 points 11 months ago (3 children)

The median house value in Sydney rose 1 per cent and is now just short of $1.4 million, the peak it reached in February last year.

farout i still remember when it crossed $1m, didnt seem that long ago. how on earth is 1.4m median... i truly dont get it

[–] [email protected] 8 points 11 months ago (1 children)

Private equity, negative gearing, essential resource and no sign anyone's going to be reigned in. We'll only get off this ride when it derails

[–] [email protected] 1 points 11 months ago

I honestly don't think it's going to happen unless a government with real teeth and a strong voter base to keep them in power arises. Right now Labor is doing everything it can to keep it's centrist voters.

[–] [email protected] 5 points 11 months ago

Considering

Only 1% of Australian taxpayers own nearly a quarter of all property investments across the country, amid concerns over escalating rates of wealth concentration.

Data provided by the Australian Taxation Office has revealed the extent of that concentration, with more than 7% of property investors – or 215,321 people – accounting for 25% of all property investments.

That 7% also have three or more interests in investment properties across the country, with 1% of investors – or just 19,895 people – currently holding six or more investment interests.

And that is only the top 1% of tax payers (which is only 7% of investors), I can't imagine what percentage of property investment is owned by the top 10% of tax payers.

From: https://www.theguardian.com/australia-news/2023/jun/04/a-quarter-of-australias-property-investments-held-by-1-of-taxpayers-data-reveals

[–] [email protected] -1 points 11 months ago

Sydney is an international city, and everyone all over the world wants a piece. That’s how.