WENDELL HUSSEY | Cadet |CONTACT
In some breaking news from the Land of the Property Investor, Australia currently has a million homes sitting vacant.
Data from the Australian Bureau of Statistics has revealed that over a million dwellings are sitting idle, making up nearly 10% of housing stock in the country.
The comes during a national housing crisis, with endless tales about people living in tents, on friends’ and family’s couches, on local showgrounds, and in crisis accommodation.
As average Australians who don’t come from families who already own property struggle to put a roof over their heads, the ABS says the Adelaide-sized level of vacant houses takes into account people being out, about, and at other people’s homes.
While the ABS has refrained from offering up too many reasons for the swathe of empty dwellings, it’s believed the trend may have something to do with the fact our nation’s leaders have turned housing into a way for people to accumulate huge amounts of wealth.
“Yes, it probably does have something to do with the fact we’ve turned the universal right to a home into something that investors can make disproportionate amounts of money off,” said an ABS spokesperson.
“And for people to do that, you need to have supply not meet demand, so you can ensure the market continues to inflate forever and ever.”
“So that’s why you can’t just throw the doors open on these investments, it’s too crucial for a small proportion of society not having to work to maintain their lifestyle.”
While the Greens have proposed a vacant property tax that would cause investors to scream blue murder, little has been made of the recent finding, which may or may not have something to do with the fact large media players rely heavily upon the likes of Domain and realestate.com.
More to come.
