Empty Land and Homes

5th Speculative Vacancies Report
Thursday June 21st, 6.30pm
Presenter: Philip Soos, Researcher, Deakin Uni
Prosper rooms, 1/27 Hardware Lane, Melbourne

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Exciting researcher Philip Soos is set to release Earthsharing Australia’s 5th Speculative Vacancies report. Over 1 million homes have been surveyed with extensive findings on commercial vacancies. The figures are jaw dropping in light of the recent re-zoning windfalls handed out to developers.

Epitomising the poor use of land is the associated picture. This location (corner of Barkly St and Commercial Rd, West Footscray) has been vacant for over 5 years and is not included in current vacancy calculations. This allows property speculators to create a media atmosphere that there is nowhere to live. ‘We need more land’ is the catchcry. Over time, sections of the site have been drip fed to the market to maximise profits.

Now that the land market is plummeting in Melbourne (with a 42% fall in land sales over 12 months to March 2012 ), the cheeky land baron has decided to put the location up for lease! This epitomises the real estate 4 ransom mentality and the importance of more accurate vacancy figures.

Philip Soos is a highly rated researcher with articles like:

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3 Comments

  1. john17-06-2012

    Wow!

    Is this the ‘speculators wet dream’ land?

    Well done Prosper on such astute observation. Truly evidence toward your calling the bursting of the property bubble back in March/April 2011.

    Keep up the great commentary.

  2. Karl Fitzgerald
    Karl Fitzgerald20-06-2012

    HI John,
    sounds like you’ve seen Real Estate 4 Ransom! The ironic thing is that speculators wet dream location sat idle for a good 3 years, then a housing support group set up shop there. I asked them about the cause of housing pressures and they basically shrugged. I beckoned them to look left out their front door. A vacant site with over-grown grass etc has a sign written ‘no parking’ signage on the metal fence with a graffiti’d up yours finger over it (you’ll see it in our next clip).

    The graffiti artist got it, the housing expert obviously hasn’t.

    Over 90,000 vacant properties amidst a housing crisis – you’ve got to be joking! But yet the HIA is out today saying that dwelling commencements are at a Sept 96 low and we need more urban sprawl forever. Insiders know there are more vacant properties than recognised, or if they dont, they know the market is in meltdown and dont want to risk their capital. They can easily sit on vacant sites for barely $500 p.a in Land Tax, hold us to ransom and wait until the next boom kicks off. Just ask Clive Palmer, that’s how he became an ‘entrepreneur’.

  3. john23-06-2012

    Hi Karl,

    Wow! A ‘housing support group’ that cant join the dots between housing cost pressures and empty plots of unused land that sit in disrepair!

    Is this one of the public service jobs the Baillieu government has lined up for slash and burn yesterday? Oh Ok, that makes sense then when they say ‘front line services’ of any real value to the public wont be affected.

    Well have to just rely on sites like prosper to continue telling us the real score on the housing market in Australia.

    On that note, can’t wait for the next clip to come out!!
    (any clue as to when?..)

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https://prosper.org.au/2012/06/14/empty-land-and-homes/