Tuesday, July 26, 2011

Australia's Shadow Inventory

I like this, Chinese style sniffing around the supply data to get another view on the statistics. These activists used water usage data to determine empty properties.

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).

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