And most of the cost of that IS govt red tape/requirements.
The need for entry statements and gardens in new estates, the cost of additional roadworks and turning lanes, massive fences and noise barriers, the massive increase in land contributions to open space/urban amenity, bike paths and sidewalks, the cost of sewerage which was mostly non existent back then, Curb and channel which was mostly non existent back then. Playground equipment.. Developer pays for everything these days. Council pays for nought.
These are all extra costs over and above what was required back in those days.
Then you add on the costs of modern housing with double lock up garages, ensuites, carpets and blinds, fencing, dishwashers and air conditioners, inside toilets, concrete driveways. the list goes on and on...
There is no way you are comparing apples with apples.
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