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RE: Seven Drivers of Value in the Australian Real Estate Market
Hey Jason, i would also not discount the risk that property owners might have to stump up more for land tax and rates in the future if State Governments feel the need for more revenue. Their revenue is already getting squeezed by several factors, and this trend may continue. Just my thoughts anyway.
Good point. Local and state governments are no doubt riding the property market wave. They'll be forced to tighten their budgets eventually, which is always tough for politicians to do. Their risk is that as taxes rise there is less incentive to invest which exacerbates their problem.