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> Docklands has a vacancy rate of ~25% I'm amazed it was that low. I was inspecting recently and I was blown away, it was like a ghost town. I checked out the
by aplummer 9y ago
> Docklands has a vacancy rate of ~25%
I'm amazed it was that low. I was inspecting recently and I was blown away, it was like a ghost town. I checked out the carparks of these massive buildings and they were basically completely empty, it was crazy.
- tmnvix 9y agoThis data is more accurate than the typical media-reported 'vacancy rate' arrived at by surveying real estate agents and asking "what percentage of the properties on your books are currently vacant?" - which usually results in a figure somewhere around 3%. The methodology of the Speculative Vacancies Report involves gathering water usage data for all properties. That can mean that if a property is occupied for a single month it isn't counted. A lot of the Docklands apartments appear to be not only vacant investments, but also short-term rentals and 'city pads', so I'm not at all surprised that it appears more like a ghost town than the figures suggest it might.