How Many Properties are ACTUALLY Available in Melbourne
Earthsharing Australia has done their own investigation of vacancy rates in Melbourne and found that 4.95% of all potential housing stock is vacant, double the rental vacancy according to Real Estate Institute of Victoria. Earthsharing have done it using water usage data, and gathered some interesting results.
The group's Speculative Vacancy Report says that in Docklands, almost a quarter of residential properties there, 23.32 per cent, are vacant. The official vacancy rate for Docklands is 3.62 per cent.
Other established suburbs with many empty homes, according to the report, include East Melbourne (18.64 per cent), Carlton (11.51 per cent) and Essendon North (13.07 per cent).
Either there is a drastic problem with Earthsharings methodology, or something is stuffed with the ‘official’ vacancy rates. Earthsharing are releasing a documentary on the topic titled Real Estate 4 Ransom, it should make for some interesting viewing.