ground always sells for the price you can work it profitably,plus the ownership margin the other bloke is prepared to push you to.
in victoria,now people can sell an apartment for one or two million dollars,there is a steady trickle of money coming out the city,selling an apartment,and changing over to a spacious homestead and one or two thousand acres.
not everything,but definately impacts supply and demand.
--look at phillip adams,after his policies have succeeded in doubling sydney to 4 million people,phillip adams used city money to go buy a farm,to get away from the crowds.[he then poured money into it,turned it yuppie,farmed to all the abc thought bubbles,and all it produces is peace and quiet for phillip adams.]
my big mistake was failing to understand the impact of the explosive population growth of melbourne on property prices.i always based my tender prices on simple production economics,failing to grasp the fact that doubling melbourne from 2 to 4 million in 20 years would distort all property prices. the future of eight millions in melbourne and sydney spills out everywhere.
