PPRuNe Forums - View Single Post - Bankstown Airport Desperately Sad
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Old 7th Oct 2014, 06:15
  #6 (permalink)  
Squawk7700
 
Join Date: Apr 2005
Location: Melbourne
Posts: 2,650
I've heard that before thorn bird, however what do property developers have to do with the demise of Bankstown?
Horton park, yes. Wallan, yes. Geelong, yes.

It is sad when they are involve when airports are the target. Last week in Sunbury on the news a family of 10 siblings had bought a property 20 years ago for $300,000 sold it to developers for over $70 million for a new suburb to be built.

The worst part is family farms that have to be sold and you can't hold onto them. Once the council decides to re-zone from rural to residential, they charge the land owners full rates based on the potential value of the property. Owners can't help but sell. This is how owners are "forced" to sell.
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