Welcome to the GFCSome advice for you:

  1. Give up and rent, don’t try to buy now, because you’re competing against “investors”, often from overseas. (All the vacant “investments” demonstrate that homes are no longer to live in!)
  2. Alternatively, try purchasing in the (admittedly sometimes soulless) outer ’burbs, where a house and land are a bit cheaper.
  3. If you want to wait a little, affordability is about to improve in a very BIG way!

The current situation would not have arisen, of course, if we had an all-in federal land tax, as recommended by the Henry Tax Review. That would curtail land price “investment” bubbles from forming in the first instance. (And we know the term “bubble” connotes a bursting.)


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