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Journal Article

The Economics of Land-Use Intensities in Melbourne, Australia

Brian J. L. Berry
Geographical Review
Vol. 64, No. 4 (Oct., 1974), pp. 479-497
DOI: 10.2307/213705
https://www.jstor.org/stable/213705
Page Count: 19
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The Economics of Land-Use Intensities in Melbourne, Australia
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Abstract

Data on land values, land-use intensities, and market prices of all properties in the city of Melbourne are analyzed by type of land use, their interrelationships are established, and the returns to increasing land-use intensity are measured. Progressively greater rates of return to office developments on the most expensive land reveal why pressures for central-area concentration exist, whereas decreasing returns to residential land use on similarly priced land indicate that unless rising land prices are prevented by strict land-use controls, the city's exclusive inner residential areas will be converted to other uses. If the land is reserved for residences, the high and rising land prices dictate that only the affluent will be able to afford to reside in the central city. This helps to explain why the city has ceased, in the past decade, to serve as a reception area for the "New Australians."