Flippers do tend to hold inventory off the market, especially if prices are inching downward and they are holding out for better times. Good luck with that, by the way.
Speculators 'locking up' empty dwellings that could be homes
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).