INVESTORS EMPTY HOMES ARTIFICIALLY INFLATE HOUSING SUPPLY CRISIS. DO NOT TRESPASS!
SPECULATIVE VACANCIES 7 EMPTY INVESTMENT HOMES IGNORED Catherine Cashmore 1
Contents About.................................................................................................. 3 Melbourne Top 20 Vacancy Heat Map.................................. 4 Executive Summary..................................................................... 5 Introduction..................................................................................... 6 Methodology – How do you assess if a property is vacant?................................................................. 9 Melbourne’s Speculative Vacancies report – Water Data Analysis..................................................10 Findings and Analysis................................................................13 Conclusion.....................................................................................25 Recommendations.....................................................................28 Footnotes ......................................................................................29 Appendices....................................................................................31
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About Prosper Australia
Prosper is a research-based organisation in Melbourne seeking to advance economic efficiency and social justice through tax reform and education. It is at the forefront of advocating the ideas and policies of the U.S. classical liberal economist Henry George (1839-1897), who believed poverty and social disorder stems from the misuse of the third factor of production, land.
The Author
Catherine Cashmore Is an E J Craigie award winner, journalist and real estate industry expert, covering all aspects relating to the property market and economic policy. She can be contacted at
[email protected] for report purposes. www.catherinecashmore.com.au
Acknowledgements
The author would like to thank Paul D. Egan (
[email protected]) for data analysis, editorial assistance and comments. Project Director: Karl Fitzgerald -
[email protected] Thanks to Melbourne’s water utilities for providing the data
Responsibility for the content of this report lies with the author.
Privacy
The privacy of individual homeowners has not been compromised in compiling this report. The water consumption of individual properties or personal details of homeowners was not provided by water retailers; data was aggregated at the suburb level.
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20 6 13 14 15 17 3 5 19 18 1
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Melbourne Top 20 Vacancy Heat Map No.
Suburb
Total
0L/day
Ratio
