The 7th Speculative Vacancies report (Melbourne, Australia) has again generated Georgist news in over a dozen news outlets. The report found 64,386 vacant homes during what conservatives in Australia call a housing supply crisis. This crisis is manufactured as a cover story for the bureaucratic golden pen tick – for land-bankers to have their land re-zoned on the sprawl. This is enabled by a published vacancy rate only including property advertised to rent, or worse by a voluntary survey filled out by real estate agents. With investors now numbering over 50% of housing loans, and capital gains outstripping rents by 3 to 1, there is less incentive to rent property out.
The report was written by property analyst Catherine Cashmore with extensive investigation into the wider housing pressures Australia is facing.