I'm interested to know the source of this figure. It sounds typical for a reported rental vacancy rate. Is this not just the percentage of available rentals tha

I'm interested to know the source of this figure. It sounds typical for a reported rental vacancy rate. Is this not just the percentage of available rentals that are not currently occupied? This would exclude things like second homes, homes on the market, homes being renovated, land-banked homes, etc. See Melbourne's Speculative Vacancies Report[0] for a comparison (in some years I've seen this report indicate that vacant properties in many areas are over 10%). [0] https://www.prosper.org.au/speculative-vacancy-reports/ https://www.prosper.org.au/speculative-vacancy-reports/ edit: I forget which year's report it was, but they did once find a very strong positive correlation between the rate of capital gains and empty properties. I.e. the stronger the capital gains in an area, the more likely properties were to be left empty.