The article makes limited economic and no social sense. Maybe our mild climate makes us forget that shelter is a human need and should not be a get rich scheme for speculators. The only justifiable reason for investors in real estate is if it actually increases supply and decreases prices. This has patently not happened. How about we take speculation completely out of realestate altogether?

How does it benefit society if people take massive mortgages just to pay for a roof over their head instead of spending their money on job creating consumption like eating out or heaven forbit something productive like a business?
The real estate mania has done enormous damage to our society.

dane; you've absolutely nailed it in one!

Has; have you applied to construct inlaw accommodation? Which is still permissible?

And I understand if your land is a cultivated paddock, you may be automatically allowed to construct a second dwelling; which could possibly be a duplex?

In any event, given the land, the water and all the nearby developments, 20 acres would make a fine and profitable market garden or an even better site for glasshouse intensive and unseasonable production; with a ready made local market and some of who would drive by just to buy a fresh picked cabbage or salad greens/what have you, from the farm gate.

As I understand the law you are entitled to sell from your land, anything you can grow on it; except eggs?

Moreover, hawkers licence would allow you or your kids to sell any produce you grow from the back of a truck; which you'd need in any event, just to move surplus produce!

Water and water melons seem to go together, and with minimal effort! And there's your cultivated paddock!

And if your kids really do want to live there, then they could put some of their money and time in developing it, and indeed, living in caravans while they do that?

Although that might require them to get their hands dirty and hardened with work, and the usual dawn to dark gut-bust, that so marks primary production!

And have you applied for a village development; which might allow one acre blocks as development; always providing there is no danger of flooding?

Another approach could be an application for a caravan park; which could establish a cash flow, and make a later high density urban rezoning application likely successful? A successful D.A., would ensure that development funding would follow!?

As some have noted, there is more than one way to skin a cat! And I understand your desire to leave something of value for the kids; and the frustration of being prevented!
Rhrosty.

Rhrosty when I said commercially worthless I meant it. Much of it is light sandy loam which has been flogged as a turf farm. It was not even successful at that. Very light grazing is all it can handle. One beast to about 6 acres in a good season, less in a poor one.

We have had a few people try market gardening around here, on the pick of the river flats, not my rubbish. They all went broke, even including a couple of incredibly hard working Vietnamese families. Another spent a fortune on a hydroponics set up. He was wiped out by a couple of severe frosts. We usually get a couple of -5C each year.

I learnt years ago that growing any sort of food is a mugs game, & would not recommend it to my worst enemy.

The river is just not reliable enough to depend on for earning an income. I have used it to grow some soil improvement crops, & to establish pasture, but that is all the place is good for.