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More On The Unoccupied Housing Question…

In this show we do a deeper dive into the ABS Census data series and examine the distribution and location of vacant property as defined by the census. We highlight the post codes with the highest counts and their distribution.

We have mapped the results and added them to our Core Market Model.

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Caveat Emptor! Note: this is NOT financial or property advice!!

Written by Walk The World

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  1. Thank you really informative is there any data in the previous census as a comparative to the overall vacency percentage rate then to now. Is there also any comparative data for percentage of foreign ownership? Could property purchased for use by familys of foreign students but not in use due to the covid restrictions be a factor?

  2. Apart from the obvious Air BnB, I wonder how many of the vacant units are owned by Chinese investors. In China, a unit is far more valuable if it’s never been occupied. Perhaps this mind-set has carried over? If any Labor or Independent Teals read this…What are you doing to fix the money laundering going on in Australian property. We know it’s happening so if you know a crime is taking place and have to power to stop it but don’t act/fix it, are you not partially criminally culpable? There’s got to be a class action in there somewhere…

  3. 3 percent born before ww2 plus during and after 22 percent otherwise known as boomers…that’s 25 percent of the population.all are in various stages of dying. The amount of housing about to hit the market will make your head spin.add to that inflation..interest rates rising.. a slowing world economy…and soon unemployment due to climate change fantasy prediction’s.housing is about to correct substantially.good luck

  4. Total block of units at kangaroo point in Brisbane is empty, tenants were kicked out, it is now home to homeless people and absolutely disgusting. Do they get recognised by the census 🤷🏻‍♂️

  5. NSW and ViC (and other states to some degree) were in lockdown on census night. Many of the appartments in the cities usually have international students and tourists. Universities were largely closed, and a significant proportion of students moved home with parents. Couples moved in together, rather than have two dwellings. International students often went home.
    And it wasn’t easy for others to get to their holiday homes with strict travel restrictions in place. Air BnB’s were largely unoccupied. So I’m not sure whether the data can provide too much value without considering these factors.

  6. Just goes to show how much wealth consolidation and god knows how much money laundering has ended up in empty properties.
    There is no supply shortage, there is simply an opportunity and wealth distribution crisis.

  7. 'A society that robs an individual of the product of his effort … is not strictly speaking a society, but a mob held together by institutionalized gang violence'.

    'The government has created a nation of paper criminals. People can be put in jail and lose civil rights and liberties through bureaucratic procedures.The only thing that is keeping you out of jail is government goodwill'.

    Ayn Rand

    What if ??
    The government doesn't have your best interest's in mind?
    But instead was increasingly taking EVERYTHING from you instead?
    How long and how bad would things have to get before you start contemplating that they might be working for something foreign ???????
    Could you before your demise ??????

  8. Surely this has alot to do with overseas investment. Whether it's Indonesian generals or American investment funds they almost always buy CBD properties and hold them empty.

  9. the way we are taxed is the soul cause of all the worlds problems .
    the crazy part is , the people getting the tax deductions think they are winning , when they are losing .
    the govt use's tax , to get people where they want them . trapped .
    people need wake up to the fact that all money in the world is worthless , with out some where to spend it

  10. I worked as a field officer for the census on the edge of the Melbourne CBD and I would suggest that the reason for so many empty apartments there was the absence of international students due to the pandemic.

  11. Time for it to end for the greediest,with those who have been missing out on all the free largely undeserved largesse getting their fair go and overdue reparations,(with interest).Thumbs up Martin.

  12. My wife and I bought and currently live in a 3 bedroom house in Rydalmere in 1998. My little street alone has currently now have
    2 by four bedroom duplexes newly built over a year ago and a 4 bedroom house which both have been sold and now been currently sitting vacant now for well over a year?
    All 3 dwellings are walk in ready to live, but they vacant dwellings none have been rented out for well over a year now maybe getting close to the 2 year mark now? Not good

  13. Hi Martin, a suggestion for a video: I'd love to see a historical correlation of average salary & average house cost for the last 50 years, percentage of salary needed to pay a mortgage over this time period. Reason is it would be great to see just how badly we are pricing the younger generations out of owning a home (unless they inherit). Thanks

  14. This is at best a misreading of stats or retrofitting a conspiracy theory to suit a false narrative …It may only mean the dwelling was vacant for a variety of reasons on one praticular night and not because it was being deliberately withheld from rental market…reasons may include as the occupant was on holiday, or at other premises, the property is not habitable and unleasable and needs work, or the property is advertised for lease but vacant as at the census night

  15. If I was King I would make all foreign Residential property Owners rent their Property and if they don't then charge them the Rent amount and tack it onto their Rates Bill. It would instantly fix the Rental Problem and the People would love me…LMAO!

  16. Martin, I appreciate where you're coming from with this, a sort of a social justice motivation me thinks.
    Nevertheless, the fact remains that the housing is unaffordable and the wages that folks are paid are really not in the same street to be able to afford places and it's a great pity, I understand that.
    However, this imbalance will never be addressed by chipping away at the edges and tying a few loose ends together and with government intervention. What you'll find is that the cost of the government intervention is politically and financially greater than the cost of a few picked up rentals.
    The point that I want to make is that the best thing that we can have in Australia is a vigorous healthy, dynamic, robust economy.
    To do this, we need a vigorous creative, innovative professional education system.
    The only way that economies are built is through creative, innovative, robust and dynamic production of something or a service.
    So we don't have an education system. Anything like that Australians born folks are simply not having children anymore. That's what the education system produces. It's unproductive in terms of demographics.
    The education system implies women not to be women but to compete with men in men's jobs and they stop having children and the whole show then stops extinction.
    So the education system is pretty much hopeless and run like a very bad railway or postage service. Just bureaucratic top down central planned and weeding out the creative and therefore the intelligent folk.
    What could possibly go wrong?.
    And so with an education system like that, the job system is no better bureaucratic centrally planned top heavy desperately uncreative and inefficient producing folk who adjust bland cogs in the wheel, as been has been shown by the whole Covid thing.
    With Covid and the lockdowns we got totalitarianism and a lot of it has remained and to get that you need people who have learnt to be hopeless and helpless and become just cogs in a wheel morally and ethically off with the fairies.
    The politics is the same. Focus disconnected. They're poorly educated. They have a very poor idea of history and of the world at large. So of course they're led up the garden path by all sorts of utopian promises. Look where it leads. Have a look at China.

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