Property and Population, page-51

Steve you just don't get it.

Forget about talk of cost of houses and look at the cost of land, how many stand alone houses do you see in a CBD?

In days gone by there where plently of them but demand for accomadation in the CBD goes up and so does the price, first they carve up the lots to make them afordable and build smaller house.

But demand continues to grow as does the price so in order to provide for the demand and still be reasonably afordable we start building up.

Any idea what a 750sqm block of land would be worth in the sydney CBD? may well be 30 x avergae wages becuase you could put 20-50 apatment on it or more if you go even higher.