NSW land values have rocketed Re: [Peakoil] Wealth preservation and land - further thought

[Alex P]

On Sun, 4 Sep 2005 15:47:55 +1000, Keith Thomas <keith at evfit.com> wrote :

> A further consideration on buying rural land: the August edition of the 
> AFR magazine included an article on the buying up of land around here 
> (southern NSW) by squillionaires from US, Greece and South Africa.  
> Although they are providing 'jobs' on their properties, they are jobs 
> to service the whims of their employers - so they are manicuring polo 
> grounds rather than producing the land and looking after it for their 
> next generation.  Perhaps they are also preparing for social unrest in 
> their home countries in the wake of peak oil?


Interesting. Land values in much of rural NSW have about doubled in the 
last 5 years (land valuations are published on a NSW Govt website somewhere 
I recall). It may be a combination of foreigners as you say, and also 
wealthy baby boomers and the general property bubble we are now in.


Alex
O4O4873828

ACT Peak Oil discussion list
http://act-peakoil.org