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The Australian property market comprises the trade of land and its permanent fixtures located within Australia. The average Australian property price grew 0.5% per year from 1890 to 1990 after inflation, [1] however rose from 1990 to 2017 at a faster rate. House prices in Australia receive considerable attention from the media and the Reserve ...
Property law is a largely statute-based but continues in important aspects to be influenced by the common law and principles that originate from Australia's history as a British colony, where land and estate law developed through the ambit of feudalism.
At the start of the 20th century, Western Australia had six land divisions which cover the whole state, divided into 80 land districts. The land districts were further subdivided into locations and lots. Western Australia also had 26 counties, all located in the south-west corner of the state, around Perth.
In the Australian states and territories, leases constitute a land apportionment system created in the mid-19th century to facilitate the orderly division and sale of land to European colonists. Legislation ensured that certain Aboriginal rights were embodied in pastoral leases.
The South Australian Commission Land Sale Regulations 1835, authored by the Colonization Commission in 1835, stipulated that surveys were to be undertaken and maps to be made available prior to sale of the land. Land could be bought at a uniform price per acre, but it would go to auction in the case of more than one potential buyer.
Under the reforms unsurveyed land in an area which had been declared an agricultural reserve in designated unsettled areas could be selected and bought freehold in 40-to-320-acre (16–129 ha) lots of crown land, wherever situated at £1 per acre (£2 9s 5d/ha), on a deposit of five shillings per acre (12s 4d/ha), the balance to be paid within three years, an interest-free loan of three ...