The performance of the Melbourne new land market for the June 2017 quarter remained strong.
Latest research from Research4.
No real change to the volume of new land sold. In total, 2,158 lots per month were added to the metro footprint.
The state government may be jumping up and down about all this new revenue from stamp duty, but I am sure they are aware that they now have to pay for this population for some time to come.
Just in the June quarter, the new land market has triggered the following public costs;
- 77 extra police required
- 528 additional school classes requiring schools, buses, teachers and the never ending cycle of costs
- 25,000 tons of waste per year need to be carted and buried.
- 1.2 billion liters per year of water, most of that down the drain
- 231,000 visits to the Doctor per year
- 58,000 doctor hours bulked billed to medicare
The great ponzi scheme is the Melbourne housing market. Economic activity that delivers an immediate short term cash injection, but then becomes a long term economic burden.
Excellent thinking all round! But hey what a great quarter!
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