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As your link itself explains, the vast majority of those vacant properties are either a) holiday homes that are empty outside vacation season, or b) "areas with
by jpatokal 14y ago
As your link itself explains, the vast majority of those vacant properties are either a) holiday homes that are empty outside vacation season, or b) "areas with declining population where dwellings are simply abandoned by owners who can’t sell their property". Vacancy rates in major cities are remarkably low.
- throwaway2048 14y agoit may not be a big problem at present, as there is a huge real estate boom in Australia. But when there is an economic downturn these regulations are going to hit older areas extremely hard, just like they have in many other nations.
- JacobAldridge 14y agoProperty values in Australia declined by 4.5% last year. Forecasts are for around 5% growth this year in my city (Brisbane), but continued declining prices in Canberra, Melbourne, Hobart and Adelaide. Huge real estate boom fizzled at the end of '09 / early 2010.
- JoeAltmaier 14y agoSo, what they need is, oh I don't know, maybe lots of immigrants looking for a house?
- rmc 14y agoit may not be a big problem at present, as there is a huge real estate boom in Australia DANGER WILL ROBINSON! A property boom has wrecked several countries. Australia could be hit by that.