Boom time for them, but we pay the price

THE high price of building land has brought joy to our political and business elite without even a thought for the ordinary people who will eventually have to fund the cost of record land prices.

Boom time for them, but we pay the price
Mon, 22 Aug, 2005 - 01:00

The cost of the average new home is 10 to 12 times the average industrial wage, and up to 20 times the annual minimum wage. This is just the capital cost; with interest repayments over 20 to 30 years, it would be much more.

The high cost of retail/ industrial rents also increases prices of everyday items.

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