Walk The World
The recent release of 2021 Census data revealed a shocking “one million homes were unoccupied”.
This statistic sent housing commentators, government agencies and policymakers into a spin. At a time of significant housing shortages, this extra million homes would surely make a big difference. They could provide housing for some homeless, ease the rental affordability crisis, and get first-home owners into their first home.
There has been a great deal of speculation about how this has happened. Has it been caused by overseas millionaires buying up housing and leaving it as an empty investment? Is it Airbnb taking up homes that could be used for families? Or are cashed-up Gen-Xers double-consuming by living in one house while renovating another?
So, why were 1,043,776 dwellings empty on census night?
Today’s post is brought to you by Ribbon Property Consultants.
If you are buying your home in Sydney’s contentious market, you do not need to stand alone. This is the time you need to have Edwin from Ribbon Property Consultants standing along side you.
Buying property, is both challenging and adversarial. The vendor has a professional on their side.
Emotions run high – price discovery and price transparency are hard to find – then there is the wasted time and financial investment you make.
Edwin understands your needs. So why not engage a licensed professional to stand alongside you. With RPC you know you have: experience, knowledge, and master negotiators, looking after your best interest.
Shoot Ribbon an email on info@ribbonproperty.com.au & use promo code: DFA-WTW/MARTIN to receive your 10% DISCOUNT OFFER.
Find more at https://digitalfinanceanalytics.com/blog/ where you can subscribe to our research alerts
Please consider supporting our work via Patreon: https://www.patreon.com/DigitalFinanceAnalytics
Or make a one off contribution to help cover our costs via PayPal at: https://www.paypal.me/MartinDFA
We also can received bitcoins at: 13zBL1oRib9VJu8Uc9zUGNhxKDBBgUpDN1
Please share this post to help to spread the word about the state of things….
Caveat Emptor! Note: this is NOT financial or property advice!!
👍
Plenty under construction or in escrow. Plenty not responding. Plenty in holiday home areas or people overseas / interstate.
How many homes are being held for students, when the students aren't back yet?
Martin do you think a Bed Tax would help to encourage more occupancy?
Can they stop saying it's a supply problem now? Even if that one million is really half a million empty.
Context is key, without it data is just numbers.
But if they leave those dwellings unoccupied. It will keep the housing market inflated. That's a bonus for everyone eccept the renters.
My house would be listed as empty , but it not , i live in it . Just signed onto my parents paper work , it was easier .
The government should be arrested.
Now we no why politicians want to keep negative gearing.
I like that list your spouse houses as liabilities 😀
Doesn't matter how many are empty. Your house your choice!
I'm done sitting tight for the award advance since I acquire $23,000 every 12 days off my investment
I dont see a problem here what business is it of the Government?
Providing no crimes have taken place. Stop asking Governments to solve problems, we dont need big brother for communist solutions.
Alles sehr schön. Aber zuerst zusammen die Nummern 10 und 1. Eine gedangsie.ONLINE Brünette und eine anderea Blondine. Es wäre unfair, wenn ich 4 wählen würde
cashed up Generation X is doing up another property, from experience you find out your better off knocking it down and putting units on the block to rent
Money laundering through Australian property is well known internationally amongst criminals. None of us want our property prices to go down so we all look the other way, politicians more so than anyone else. The next generation suffers, but hey as long as I am ok!
The only explanation is that they are purposely destroying our economy and our society.
Should be outlawed,with removal of incentives to an appropriate degree,too many people are suffering.Albanese and company seem fixated on their personal property interests,catering to the substantial private bankster etc donors etc.More to invest in than property.
If it walks like a duck and quacks like a duck. If the Labor government makes the same decisions as the coalition what is the difference.
❤Only for fans over 18 year⤵️ Alles sehr schön. Aber zuerst zusammen die Nummern 10 und 1. Eine Cucuzz.Online Brünette und eine andere Blondine. Es wäre unfair, wenng ich 4 wählen würde
As the owner of one of those "empty" houses, why would i want the government dictating what i can do with my private property ? We bought our 7 room cottage nextdoor with much sacrifice and diy renovation toil, to get rid of alcoholic neighbours. Only way we could stay in our own home. During the past 12 years it has been available to family and friends who have needed it. We have been happy to absorb the rates, water costs etc and not claim any tax benefits. Not everyone is motivated by money. What about migrant numbers ?
Us and them
Alive and well
Why not use utility residential accounts.
My neighbour and 5 others in my street live in QLD in winter and Vic during summer.
The economic cost of carrying an asset is the opportunity cost of its current value Mr. North. That opportunity cost depends, in many cases, on 'feelings' about the 'future' – you know those bloody expectations that are supposed to be 'rational'. In a couple of hours we are going to have another injection of an aspect of Reality that is going to hurt many of those 'feelings' Mr. North.
Empty houses? Remember, even if your not financing an asset with debt that opportunity cost still exists and even the dullest of minds will eventually by thumped by it.
You have to be in the Mafia with 5million to get into Docklands.
I live in a 200 unit apartment block on the GC. I estimate more than 10% of the parking never have cars in them. When I look around at other blocks at night either a lot of people go to bed before sunset and never turn their lights on or there is also a very high percentage of empty units.
However, we don't live in a communist country, you are free to do what you want with your own personal property. It is not my job to provide housing for people, it is the governments.
Yours is a very important site . Thank you for your work.
Rising intetest rates and rising rents will go a long way to getting people in those homes.
Another thing that would help is having less regulations dictating the standard of rental properties.
If a property is not going to be used fir 6 months, it could be rented out, however if renovations are required to meet legal requirements, maybe it's not worth it.
The foxes are guardong the hens when it comes to housing affordability.
I was camping and my other house was waiting for the renter to move in. No Vacant homes here and not really a true number.
A lot of houses would need serious renovating before rental.
I don't see why people should busy body about those who own vacant houses.
Excess land banking by developers is another matter.
Good on you for naming names !