House values
Last week we all got our new house valuation notices. Looking at the figures showing the increase in land and improvements it is easy to see why houses are so expensive.
Our improvements have gone up 16 per cent while our land value has gone up 86 per cent. This is a criminal increase, and the Government should be doing something about it.
It would not be hard; it just has to give an incentive of say a $20,000 grant to all sections under say $220,000. This would be similar to the scheme in the 1960s where family benefit could be capitalised on if the section value was under $750.
The $750 was about 3/4 of the average tradesman's annual wage. Section prices now are about five times a tradesman's wage. This is unjustified. Huge profits from "land banking" should be not be allowed or at least they should be heavily taxed.
Laurie Becroft
Pyes Pa