What I observed on the east coast NSW and QLD .
Houses were built on cheap land.
Land prices went up , especially near the water.
Cheap land became prime real estate .No land left , pull down old houses and build a house that compliments the prime location.
Side note.
My parents were immigrants , bought the cheap land by the sea to build a fibro house.The richer people lived on the heights , they were smart , every thing rusts by the sea.
Lucky my parents were poor and stupid.
What I observed on the east coast NSW and QLD .Houses were built...
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