Mr. Paul Hogan:

It is a like for like cost. It took a green urban site, which was a former golf course and compared it with a greenfield suburban site outside the city. It is comparing like with like on the basis of infrastructure. It does not take into consideration the additional benefits of agglomeration, density, people's time and carbon emissions, etc. You could go a lot further, but this is a tangible and defensible figure on a like for like basis. That figure could be added to depending on further assumptions.