Victoria’s new Housing Partnership shows a lot of promise. The devil will be in the detail. Prosper Australia unpacks the issues.
BLOG: Speculative vacancies
Housing vacancies continue to increase as land price booms
Vacant Residential Land Tax is ineffective in curtailing property vacancies in Melbourne. Policy must prioritise housing as a human right, not a profit generating tool. Budget housing policy will drive up land prices, countering the need for fairer post-covid housing...
Freedom from the commercial vacancy straitjacket
For over a decade we have reported on concerns over commercial vacancies in our Speculative Vacancies report. This is the first time we have been interviewed on this aspect of vacancy. Our latest such report found a 9.1% commercial vacancy rate throughout greater...
Impeding the Market
Here is the livestream of the report launch for Speculative Vacancies 9 - Impeding the Market: https://www.youtube.com/watch?v=H1oXXaObPOI The accompanying powerpoint: Speculative Vacancies 9 - Impeding the Market from Prosper Australia Just how much market power...
Vacancies to rise in a falling market
Cross-posted from the AFR's Michael Bleby. The number of vacant investor-owned properties in Melbourne remains high, with as many as 16.2 per cent homes sitting empty, according to the latest Speculative Vacancies report based on 2017 water usage data. The proportion...
Speculative Vacancies 9 – Impeding the market
Read the full report Key recommendations Water data indicates 60,901 residential properties were vacant in 2017 at a rate of 3.9%. Absolute vacancies using zero litres of water revealed 21,326 residential properties at 4.6% of the rental market. Up to 16.2% of...
Speculative Vacancies 9 report launch
Tuesday April 9th, 6.30pm Level 1, 64 Harcourt St, North Melbourne Presenter: Karl Fitzgerald Prosper's controversial report is back to investigate the number of vacant properties flying in the face of the ‘supply crisis’. *** If you are frustrated at the vacant...
The fragrant vagrant is not a rose by another name
Melbourne City Council is wringing its hands again over developer land vagrancy – prime sites deliberately held vacant or with disused, dangerous buildings to assist developer lobbying of government for rezoning or advantageous building permits. The issue last hit the...
Vacancy a Sign of Systemic Failure
Prosper President Catherine Cashmore is quoted in The Age with Land Bankers raise ire of the well-heeled. “Morally it’s not a good thing to do,” she said. “But let’s not blame the investors.” She pointed the finger at government policy: “The nation has been breastfed...
Pitfalls loom for vacancy taxes
Governments make token moves in the right direction The Federal government announcement of a vacancy tax on foreign investors could be construed as pure populism. Foreign investors constitute some 11% of all residential property purchases. Barely 3% of those...