Changes In The Middle Ages - 1510 Words

The Middle Ages The Middle Ages was a time of prosperity, innovation, and growth of Europe. It lasted between 1000 A.D.E to 1500 A.D.E. Many things were invented that helped revolutionize Europe and some still help us today. It was the time of new agriculture, the revival of trade, the growth of cities, the rise of industry and guilds, papal states, new rulers, new religious orders, new architecture, universities, vernacular literature, and The Black Death. In the Early Middle Ages, Europe had a small population. In the High Middle Ages, the population doubled from 38 million to 74 million people. This made the need for food and farms increase dramatically. Food production increased due to a couple of key factors. One of the factors being†¦show more content†¦They were followed by craftspeople and artisans. In the 1100s and the 1200s, the old Roman cities came alive with new population and growth. Medieval cities were small compared to ancient or modern cities. A large Medieval trading city would hold about 5,000 people. Italian cities tended to be very large, the biggest cities had around 80,000 people. Most towns were closely tied near the land because they depended on the food grown near the surrounding manors. The development of guilds happened. A guild was a group of craftspeople with a certain skill. Guilds played a big role in the economic life of cities. By the 1200s there was a guild for almost every craft and separate guilds for specialized groups of merchants, such as dealers in silk, spices, or wool. Craft guilds directed almost every aspect of the production process. They set the standards for the quality of the articles produced, specific methods of production to be used, and even fixed the price at which the finished goods could be sold. Guilds also determined the number of people who could enter a specific trade and the procedure they must follow to do so. Since the 5th century, the popes of the Catholic Church had claimed supremacy over the affairs of the Church. They had also gained control of territories in central Italy that came to be known as the Papal States. This control kept the popes involved in political matters, often at the expense of their spiritual duties. At theShow MoreRelatedChanges During The Middle Ages982 Words   |  4 PagesChanges in Europe From 1250-1650 This is the period was the height of the middle ages, renaissance, the reformation, and European explorations of the Americas and continuously evolved. During the middle ages, there was a huge economic boom. The Renaissance underwent significant changes such as education and art which transformed the culture. The reformation caused wars between the Catholic and Protestant rulers. The European explorations of the Americas were caused by increased wealth from the RenaissanceRead MoreThe Changes in the Catholic Church during the High Middle Ages972 Words   |  4 Pageschurch was undergoing a cleansing process regarding the different religions that were practiced. Now, women were active participants in the spiritual movements of the age. The amount if women joining religious houses increased rapidly as new orders spread throughout the twelfth century. Mysticism reached new heights in the High Middle Ages. Mysticism gave people the chance to achieve an intuitive and emotional relat ionship with God. People believed in idea that people could be able to touch or attainRead MoreHow Much Did Castles Change in the Middle Ages and Why?1581 Words   |  5 Pagesthat castles were built all over England in major towns. The first castles were built very quickly and were very simple, but during the reign of William and throughout the rest of the Middle Ages (1066-1500) the design of castles changed. In this essay I will talk about how much castles changed during the Middle Ages and the reasons for this. Motte Bailey Castles (1066 – 1078) The first castles to be built in England by the Normans were called Motte Bailey castles. They had: The Keep –Read MoreChanges of Weaponry and Warfare during the Middle Ages Essay example2284 Words   |  10 PagesChanges of Weaponry and Warfare during the Middle Ages During the Middle Ages, or also known as the Medieval Ages, change was a major part of that period. Europe was watching war become much different. In the older times, a few thousands of troops were considered a large army. Nowadays, nobody has ever seen such size of an army with such variety in weapons including guns, munitions, and artillery that were all developed during that period. Besides, it was obvious that the face of warfare was changingRead MoreThe Influence of Renaissance in Art and Architecture947 Words   |  4 PagesThe influences of any era is evident through artwork and architecture. During the Middle Ages the main influence was the church, this is evident through the focus on biblical and religious symbols. During the Renaissance the main focus was the study of people. This is shown through the increase in self portraits and classical antiquity-inspired buildings. The change between the Middle Ages and the Renaissance is best shown through the art and architecture, demonstrated specifically through an emphasisRead MoreThe Middle Age Is Not Defined By Specific Chronological Age1452 Words   |  6 PagesIntroduction Middle-age is not defined by specific chronological age, different people have different understandings about middle-age. According to Byrd and Breuss (1992), elderly New Zealanders (60 years old above) chose age 57 as the onset of middle-age while young people (mostly in their late 10s and early 20s) thought their middle-age was in their 30s. Such a difference existed as young people were yet fully embarked on the adult psychological developmental process, so they had no experienceRead MoreMiddle Adulthood : The Middle Of Adulthood1356 Words   |  6 PagesMiddle adulthood is considered ages 45 to 65, we all know someone in this age group and often have family in this range that we have observed the changes that happen when you get older. With age your body wears down and your health starts to decline, normally slowly but can be a rapid decline. Not everyone agrees on what ages are middle adulthood is as it is not the middle of adulthood compared to life expectancy. Our cells get r eplaced at a slower rate when we get older causing many problems. Read MoreThe Pardoners Prologue And Tale By Chaucer Essay1425 Words   |  6 Pagesgain, which was relevant in society during the Middle Ages. In Chaucer’s story, the Pardoner uses his influence and tells a tale of three men to convince the people to pay for him to pardon their sins. Chaucer’s tale and story is often used to emphasize the moral values in our society. There are many points in the tale that are based on the theme of greed being the cause of all evil in humanity, and the Middle Ages was a period of great societal change in Europe. â€Å"The Pardoner’s Prologue and Tale†Read MoreDeclining Health for Middle Aged Adults Essay1704 Words   |  7 PagesHealth Changes for the Middle Aged Adult As we age, we experience many changes that can affect us both physically and emotionally. Middle age adults have many health concerns that they need to be aware of and they must be proactive about addressing these concerns before they have adverse effects on their health. Some physical concerns middle age adults should be concerned with include hyperlipidemia, hypertension and stroke. Physical health concerns can often be linked to psychosocial healthRead More Middle Adulthood Essay711 Words   |  3 PagesMiddle adulthood is a complex time period that requires a multidimensional outlook to understand all of the processes and changes that are taking place. The many changes during middle adulthood include physical, cognitive and social differences. Many of these changes create significant stress and it is important to understand ways of coping with the anxiety. Many of these coping mechanisms include mindfulness and cultivating a sense of self-efficacy and mastery (pg. 482). T here are many changes

Industry Structures Free Essays

A rise In global markets will usually generate an increase in return off livestock, this can increase the local prices. Local bodies or lobby groups like National Farmers Federation, Sheep Cooperative Research Centre, Department of Agriculture for Fisheries and Forestry and Meat and Livestock Australia help to maintain a reasonably simple trading system. In this report it was shown that the future has potential and with the support of the producers and industries behind the live trade of lamb things will pick up and move on in favor of the market over time. We will write a custom essay sample on Industry Structures or any similar topic only for you Order Now Introduction The lamb Market is a volatile market with many highs and lows, this is a mature market with a constant and promising future to come. In the report It will cover; the main markets and end use applications for the product, monitoring the market and change of supply and demand patterns over the years. It will identify the future 1 OFF and overseas. The report will also cover how and what the industry agencies do to protect the lamb market for Australia. Main Markets and End Uses There is a growing export demand for both lamb and mutton, with China being the largest export destination for Australia followed by India, Kuwait and Italy (IBIS, 2013) Australia’s sheep flock is the second largest in the world although the flock has been wringing and Australia is the largest exporter of lamb according to IBIS world report. Producers sell prime lamb and mutton to meat processing markets or export markets. A rise in global markets will usually generate an increase in return off livestock due to more numbers being sold and cost increasing for them. In relation to sales of lamb and mutton, the average Australian consumes around 1 1 keg of lamb and mutton every year (IBIS, 2013) BARES estimates and annual increase of 3. 1% for lamb and 6. 1% increase for mutton over the four years through to 2016-17. (IBIS, 2013) Figure 1. Lamb utilization and retail price (ML, 2013) Supply and Demand Patterns Whilst there are large countries Australia’s population is growing, therefore the demand for meat is on the rise and lamb being a popular meat and a substitute for others such as beef and chicken. In 2011-2012 Australia exported 49 percent of all lamb and 97. 5 percent of all mutton produced in Australia, the total value of these lamb exports was 1. 094 million. Around 19,240 Australian broad acre farms are classified as lamb around 19,240 Australian broad acre farms are classified as lamb producers the majority of these farmers are mixed enterprise, a substantial reapportion of their income coming from cropping, beef cattle, sheep and wool, as well as from the sale of lambs. Lamb producers generally sell their lambs to slaughter houses, feedlots or export. Around 9400 slaughter lamb producers earn more than 20 per cent of their total farm receipts from the sale of slaughter lambs and are classified as specialist slaughter lamb producers. With the numbers of lamb sitting steady we can see. Key Competitors Competition for the Australian Lamb Market is continually increasing from overseas buyers and investors, despite remaining one of the largest and most valuable market for lamb. The reasons for this include a challenging domestic consumer market and strong growth in overseas markets, this is due to the decrease in the Australian dollar decreasing. (ML, 2012) New Zealand is one of Australia’s closest competition in the trade market. The sheep flock in the United States has been declining in recent years, to the point that as at the beginning of 2012, it was the lowest in over a century, at 5. 35 million head. With ongoing widespread drought in the US there is currently little prospect of this pattern reversing, although the majority of the US flock is in the less- affected north-western states. Industry Structures and Policy Frameworks There are a couple of barriers to entry this includes capital investment and securing finance as new producers need to purchase land, fencing materials and livestock. The government and the livestock export industry are working cooperatively with trading partners to address post-arrival welfare concerns and to improve the Ongoing involvement in the livestock export trade provides an opportunity to influence animal welfare conditions in importing countries. The Department is Jointly funding a number of projects with the live export industry to improve infrastructure ND training to promote better animal handling and slaughter practices. Australia is the only country that requires specific animal welfare outcomes for livestock exports. Ongoing involvement in this trade provides an opportunity to influence animal welfare conditions in importing countries. This legislation was an important step by the Government to overhaul the livestock export trade. Arrangements to ensure exported animals are well treated during road and sea transportation are an important part of the standards. Ships must comply with strict rules about ventilation, drainage and provision of water and food. Each animal must have access to food and water on demand and enough space to lie down, and there must be special pens for sick animals to receive veterinary care ‘Under the Australian Meat and Live-stock Industry Act 1997, a report on the carriage of livestock on any sea voyage to a port outside of Australia must be tabled in each House of Parliament every 6 months. (ML, 2013) Future Industry Challenges With the recent ban on live trade out of Australia this could be a potential future challenge for the livestock industry. The live trade of livestock is of great importance o both regional and rural Australia and is vital to the red meat industry. (Department of Agriculture Fisheries and Forestry, 2013) Since the mid sass’s the livestock export tr ade has grown significantly to become a vital component of Australia’s agricultural export earnings. Live exports are a legitimate trade providing farmers with a valuable alternative to domestic slaughter. Some people maintain that live trade of Australian livestock should be banned and a preference for frozen or chilled meat to be exported. Chicken being one of the most popular meats means that there is intention for the lamb market, beef also is a competitor for the local lamb markets and export markets as chicken is common in Asian countries. Industry Agencies and Bodies Meat and Livestock Australia – ML delivers marketing and research and development services for Australia’s cattle, sheep and goat producers. ML creates opportunities for livestock supply chains from their combined investments to build demand and productivity. Department of Agriculture for Fisheries and Forestry – Supplying research and development in the agricultural sector, monitoring political and industrial sectors to keep the agricultural sector on top of the game. State Agricultural sectors – supplying information related to research and development that is relevant to the state body and the farmers related National Farmers Federation – ‘The NEFF is the peak body representing farmers, made up of state commodity councils and farm organizations, and is a powerful voice for agriculture politically (National Farmers Federation, 2013) Sheep Cooperative Research Centre (Sheep CRY) – The role of the CRY is to facilitate transformation of the sheep industry through making sheep easier to manage, developing the production and processing of meat and wool to meet increasing consumer How to cite Industry Structures, Essays

Economic Growth of Housing Price

Question: Discuss about the Economic Growth of Housing Price. Answer: Introduction: This article summarizes the various issues that are influencing the long-run growth of housing price in Australia. From the duration of 1980s, inflation of housing prices largely followed the prevailing interest rate of the economy that was comparatively high and unstable. Subsequently, the monetary deregulation of the mid 1980s and deflation in the period of the beginning year of the 1990s led to easier access finance underpinned a secular increase in households debt-to-income ratio that was closely associated with high housing prices from the early 1990 to mid 2000. This article is explores the long-run trends in the housing prices at Australian real estate market. In this, the changes in the prices of houses for long run are explained through the application of primary drivers of housing price growth. This article includes an analysis over the housing price growth in long run through understanding of fundamental drivers. Below are the main messages of this article: Supply and demand Concept: The main focus of this article is to understand the house price growth in long run through applying the law of demand and supply. By applying this law, the growth in prices of house is explained. It is concluded that gap in demand and supply is the key aspect that has played prominent role in making certain changes in the housing prices at Australia. By applying this law, house prices movement in long run is determined significantly. Stock-flow model is considered highly important to study both demand and supply side factors for understanding the long-run trend in the housing prices at Australian real estate market. Demand side factor: There are several factors identified significant in terms of increasing demand and consequently housing prices in long run at Australia. Deregulation of financial sector, low inflation rate and low interest rate have played critical role in increasing access of Australians over the houses that caused rise in prices. Apart from this, population growth is also determined as an important factor, which has caused an increase in the housing prices in Australia. In Australia, natural increase in the population along with an increase in net immigration is a considerable cause of high housing prices. Similarly, cyclical factors mainly monetary policies has played critical role in driving the housing prices in short run. Supply side factors: This article explains supply side factors, which has played critical role in influencing the general price level of the houses in Australia for the long run. The influence of increasing demand over the prices largely depends on the response of supply. If supply also rises with the demand than it is less probability of increasing prices. In short run, it is difficult to improve supply as per the changes in the demand due to the complex nature of developing new dwelling and houses. A considerable time and fund are critical to construct more houses, which is responsible for pumping new supply in the market. An increase construction cost and improvement in the quality of infrastructure development have caused stability in the number of completed dwellings over the past thirty years. This article indicates that supply of house in long run was low than the demand that has caused rise in housing prices in the significant manner. Debt-to-income ratio: This article also examines the relationship between debt-to-income ratio and the rise in housing prices at Australia over the last the three decades. It is identified in this article that low inflation raised the real income and consumer confidence that has made positive impact on the debt-to-income ratio. The growth of housing prices in Australia is closely associated with the rise in debt-to-income ratio. People showed a tendency to offset their less ability to purchase houses by taking high debt than their income, which have played critical role in strengthen the demand and consequently prices of houses in Australia over the last few decades. Thus, the above messages are provided in this article by applying range of economic concepts to understand the factors for driving housing prices in long run within the Australian real estate market. The housing prices in Melbourne are overheated in the recent years like other commodity prices, which are primarily determined by the demand and supply factors. The different factors that are responsible for growing housing prices in Melbourne are discussed as below: Interest Rate: At any level of price, lower interest rates entail with lower mortgage of repayment which attracts the borrowers to borrow more money. This causes the demand of housing has increased and housing prices is going further high. Because the lower interest rate increases the flow money in economy and increases the demand of assets. On the other hand, if the interest goes up than housing demand will ease and the prices will remain stable. In Australia, the interest rates are low, which increases the demand of money for the borrowers to invest in property. This leads to the rise in housing prices in Melbourne. In Australian economy, the interest rates cut down from 1980s through the global economic recession (Yates, 2011). During 1995-96, there was a moderate rise in interest rate and after that it also fell and remained continue lower till recent. Lower interest rate contributed a lot in increasing housing prices over past years in Melbourne. Due to the lower interest rate household debts to GDP in Australia has been increased, which is represented in the below graph: The above graph presents that the household debts to GDP is continuously increasing from 1995s due to lower interest rate. It presents that the demand of houses in Melbourne is increasing because the low interest rate has increased the capacity of buying houses. Investment Demand: Since 1995, investment in housing in Australia has increased, which has become an important driver of increasing house prices. The Reserve Bank of Australia pointed out that since 2001 the investors had increased the continuing price rise in housing market, which is supported by liberal tax benefits. In 2002, the loan approvals for investment grow by 113 percent against 48 percent for the vendor residential (Rahman, 2014). The socio-demographic factors, tax benefits, increasing rental income, institutional development, and broader expansion in economy and capital market have contributed in increasing investment demand for housing. Moreover, the investment in property is preferred as a secure and risk free investment, which has increased the demand and price of houses in Melbourne (Hensher et al, 2012). General Demand and Supply: The increasing need of housing in Melbourne is not based on the provisional factors but substantially based on shifting of population. Melbourne is an industrial and educational hub, which attracts to the immigrants for investment and high education. These immigrants need to houses for living but Melbournes building industry is not capable to construct enough housing units per annum due to lack of qualified people, and building permit process. In Melbourne, the demand is estimated 170,000 housing units per annum but supply is 140,000 housing units per annum (Sweeney, 2016). Furthermore, it is observed that the middle household size is declining due to boost in single person and single parent households that influenced the demand of new houses. Overall, the increased population and lesser households implied an increasing demand of housing, which is known a major determinant of increasing house prices. Due to increased demand and lower supply, the prices of houses are increasing contin ually in Melbourne City. As a result, it is predicted that the prices of houses and apartment will continue to rise over next 3-4 years and more. Economic Growth: There is a positive relation between housing demand and household income. In Melbourne, the household income is increasing rapidly over the time. In 2005-06, the household incomes are 10% higher in comparison of 2003-04 and higher than 34% in comparison of 1994-95. This increasing household income or economic growth increases the wealth of an individual and capability of investment in property (Rahman, 2014). Generally, in every society, Housing is considered as a major store of wealth, which is called wealth effect and leads to an increase in expenditure. As a result, economic growth makes an individual housing affordable that supports housing prices through a self-reinforcing series. Impacts of buyers tax on the equilibrium housing prices, consumer surplus, producer surplus, and total surplus (or social welfare) The effect of tax on the supply-demand equilibrium housing prices is to shift the demand for houses in Melbourne. It is determined by subtracting the before tax demand with the before tax supply (Varian, 2014). The following diagram shows the effects of buyers tax on the equilibrium housing prices: From the above diagram, it can be exhibited that quantity traded before the tax imposed has denoted as qB. But, when the tax is imposed by the government on housing, then the buyer must pay the higher prices due to increase in the cost of housing. And, this amount will be equal to the tax. Moreover, the unique quantity is denoted by qA and the price that buyer pays is denoted as pD. Further, the seller receives that amount is deducted from the taxes and it is shown as pS. Following are another diagram that shows the impact of buyers tax on welfare: Note: C+E depicts the fall in total surplus In addition to this, it is analyzed that buyer taxes on housing prices have a negative impact on the consumer surplus, producer surplus, and social welfare. In this way, it is stated that consumer surplus falls because the prices of housing for the buyers has risen in Melbourne. Further, producer surplus falls due to increasing in the cost of goods and services. Further, the difference is demonstrated by shading and it shows the lost gain from the sale of the unit which is not traded due to buyers tax (McAfee and Lewis, 2015). It is also called deadweight loss because it determines those trades that have not been done due to the tax burden on buyers. It is measured by subtraction of the value of buyers from the cost of the unit to the seller. Moreover, the net loss gains from the sale are depicted by the black point in the diagram. Along with this, buyers tax has a negative impact on the social welfare because the demand for housing is low in the Melbourne economy due to tax burden ( Canto, et al., 2014). Further, due to the tax burden, people do not create interest to buy the houses in Melbourne. As a result, it declines the total surplus in the housing market in Melbourne. An increase in buyers tax will impact on both consumer and producer. If the buyers tax increases than the cost of the product will increase. It will not only decrease the surplus of customer but also the surplus of seller will remain stable (Castellucci et al, 2012). For example, the government increases the buyer tax of $1 on a product than the seller will take it from its customers. In this system, the surplus of the customer will reduce and the increased tax of $1 will be paid to the government. Therefore, the increased buyer tax will not be beneficial for the society. As sales tax, income tax, and corporate tax the buyers tax also raises the revenue of city government. This tax is charged from the customer on its total purchasing. If, the buyers tax on commodities increases than the revenue of the government also increases (Mankiw, 2012). For example, when the government increases $2 as buyer tax from the customer on a particular commodity, than the government revenue will also increase on each purchasing unit of that commodity. The government of UK, USA and Australia are having different housing policies such demand side policies and supply side policies to stabilize the housing market in their economy. These policies are discussed as below: Supply Side Policies: The central or local governments of UK subsidized to private housing builders to build more houses in that area where it is shortage of new houses. This government had also build public housing policies to avail low cost houses in large cities to low paid workers. However, it is a long process and takes many years to locate a territory and undertake the necessary planning for construction but it is an appropriate policy to increase the supply of new houses in the economy. Furthermore, the governments of UK and USA countries are relaxing house building regulations and giving concessions on taxes to builders to decrease the cost of construction and increase the affordable housing plans. These government policies may be helpful in increasing the supply of affordable houses in the country and can stabilize the bubbling prices of houses. The policy of tax concession may encourage the builders to build houses on less regulated territories, which are waiting to develop. Hence, these policie s may boost the investment in new property and improve housing affordability through increase in supply (Hutchens, 2016). Demand Side Policies: The government or monetary authority of an economy may implement a series of policies including the change in deposit requirements, interest rate, affordability of housing, and variable rate of mortgages that can influence the demand of houses in a country (Kulish et al, 2012). At the time of purchasing, the house purchaser could be required a smaller or bigger deposit. In general trend, if the prices is much high than the buyer will require a larger deposit, which will prevent sub-prime buyers from the market who have not sufficient large amount. For instance, all new house purchasers could be forced to put down 25 percent of the total purchase price and remaining 75 percent will take out from mortgage. Further, on average basis the first time purchasers will put down 10 percent deposit and remaining 90 percent will be borrowed. Furthermore, the Bank of England increases or decreases the rate of interest if the prices of houses are contributing in general inflation and deflation. However, the government of UK not focuses directly on housing prices it considers only changes in interest rates if housing prices are going in inflation or deflation to stabilize the housing market. In addition, the borrowers might be switch from the variable mortgage interest rates to fixed interest rate that can impact the housing market of a country. Additionally, the government of Australia providing affordable housing policies to access sustainable and safe housing that contributes in economic and social participation of the country (Australian Government, 2016). From the above discussion, it can be suggested that government of Melbourne should increase interest rate and also increase the supply of new houses through various housing plans. Because, if the interest rate increases than the borrower will take less money from banks and will invest less in property. Moreover, in Melbourne the supply of new houses is less rather than demand therefore the increased supply can manage the gap between demand and supply that may stop the increasing prices of houses. Hence, both the interest rate and supply policies may be beneficial to stabilize the housing market of Melbourne. References: Australian Government (2016) National Affordable Housing Agreement. [Online]. Available at: https://www.dss.gov.au/housing-support/programmes-services/national-affordable-housing-agreement (Accessed: 7 January 2017). Canto, V. A., Joines, D. H., and Laffer, A. B. (2014)Foundations of supply-side economics: Theory and evidence. USA: Academic Press. Castellucci, L., Markandya, A., and Piga, G. (2012) Environmental Taxes and Fiscal Reform. USA: Springer. Hensher, D. A., Truong, T. P., Mulley, C., and Ellison, R. (2012) Assessing the wider economy impacts of transport infrastructure investment with an illustrative application to the North-West Rail Link project in Sydney, Australia.Journal of Transport Geography,24(3), pp. 292-305. Hutchens, G. (2016) Labor's negative gearing changes would help stabilise housing market: McKell Institute. [Online]. Available at: https://www.theguardian.com/australia-news/2016/may/27/labors-negative-gearing-changes-would-help-stabilise-housing-market-mckell-institute (Accessed: 7 January 2017). Kearns J and P Lowe (2011) Australias Prosperous 2000s: Housing and the Mining Boom, The Australian Economy in the 2000s, Proceedings of a Conference, Reserve Bank of Australia, Sydney. 2(2), pp. 73100. Kulish, M., Richards, A., and Gillitzer, C. (2012) Urban structure and housing prices: Some evidence from Australian cities.Economic Record,88(282), pp. 303-322. Mankiw, N. G. (2012) Essentials of Economics. USA: Cengage Learning. McAfee, R. P., and Lewis, T. R. (2015) Introduction to Economic Analysis. [Online]. Available at: https://catalog.flatworldknowledge.com/bookhub/13?e=mcafee-ch05_s01 (Accessed: 7th January 2016). Rahman, M. M. (2014) Australian Housing Market: Causes and Effects of Rising Price. [Online]. Available at: https://www.researchgate.net/publication/228384641_Australian_housing_market_causes_and_effects_of_rising_price (Accessed: 6 January 2017). Schwab, A. (2016) The property market is completely bonkers and so are you to buy into it. [Online]. Available at: https://www.crikey.com.au/2016/07/29/australias-property-market-in-mother-of-all-bubbles/ (Accessed: 6 January 2017). Sweeney, N. (2016) Why Melbournes Properties Will Keep on Rising. [Online]. Available at: https://www.yourinvestmentpropertymag.com.au/market-analysis/why-melbournes-properties-will-keep-on-rising-79693.aspx (Accessed: 6 January 2017). Varian, H. R. (2014)Intermediate Microeconomics: A Modern Approach: Ninth International Student Edition. USA: WW Norton Company. Yates, J. (2011) Housing in Australia in the 2000s: on the agenda too late?. InThe Australian Economy in the 2000s, Proceedings of a Conference, Reserve Bank of Australia, Sydney, 2(3),pp. 261-296.