The Extent of Vacant Homes in Australia

A significant number of homes in Australia are currently unoccupied, with estimates suggesting as high as 140,000 vacant homes nationwide. In Melbourne alone, recent research indicated approximately 27,000 homes had zero water usage over a year, coupled with another 70,000 showing low water usage, signaling they are infrequently occupied. Various factors contribute to this vacancy, including properties in disrepair, deceased estates awaiting settlement, financial constraints on development, and the practice of land banking, where owners let properties sit empty to profit from future appreciation in value. These insights reveal the complexity behind the housing crisis, as many dwellings lack inhabitants, yet the reasons for their vacancy vary widely and highlight systemic issues.