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0 pointsretrogradeorbit13y ago0 comments

10.2% (2011 census data) of Australian properties are sitting there vacant.

[ http://blog.id.com.au/2012/australian-census-2011/the-where-... ]

And there is certainly urban decay all over the city I live in (Perth).

Also, building codes are local government, aren't they? So it depends on what council you are in. And I've certainly heard some bad stories.

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11 comments · 4 top-level

jpatokal13y ago· 3 in thread

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.

throwaway204813y ago

it 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.

JacobAldridge13y ago

Property 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.

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rmc13y ago

it 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.

jacques_chester13y ago· 2 in thread

1. People stay with other people overnight.

2. New buildings are unoccupied, sometimes for months.

A more useful measure is rental vacancy rates. The Australian average is 2.3%, which is pretty close to "none" in practical terms.

geolqued13y ago

Those rates are voluntarily self-reported by rental property managers - there's a fairly clear conflict of interest.

According to the following Melbourne has a 5.9% vacancy rate. They use water usage data from the water companies for their analysis. (<50L/day = vacant property)

http://www.earthsharing.org.au/wp-content/uploads/Philip_Soo...

jacques_chester13y ago

What's the conflict of interest?

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tomcorrigan13y ago· 2 in thread

From the linked article:

> While dwellings are vacant for a number of reasons they are primarily associated with holiday areas

retrogradeorbitOP13y ago

Seems inner city Sydney is a 'holiday area'.

[ http://australianpropertyforum.com/blog/main/3204321 ]

ryanackley13y ago

Only one or two of the suburbs listed are actually considered inner city.

As someone who does live in the inner-city of Sydney and pay $3100USD/month for a shoebox. I would be incredulous if there were a large amount of vacancies beyond normal turnover.

There are usually bidding wars for property sales (most inner-city properties are sold by auction) and dozens of applications for rentals.

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krolley13y ago

I'm also from Perth, but I don't see urban decay "all over the city". The worst (and only) place I probably had the feeling of some urban decay was Ellenbrook.

j / k navigate · click thread line to collapse

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11 comments · 4 top-level

jpatokal13y ago· 3 in thread

throwaway204813y ago

JacobAldridge13y ago

Huge real estate boom fizzled at the end of '09 / early 2010.

1 more reply

rmc13y ago

it 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.

jacques_chester13y ago· 2 in thread

1. People stay with other people overnight.

2. New buildings are unoccupied, sometimes for months.

A more useful measure is rental vacancy rates. The Australian average is 2.3%, which is pretty close to "none" in practical terms.

geolqued13y ago

Those rates are voluntarily self-reported by rental property managers - there's a fairly clear conflict of interest.

According to the following Melbourne has a 5.9% vacancy rate. They use water usage data from the water companies for their analysis. (<50L/day = vacant property)

http://www.earthsharing.org.au/wp-content/uploads/Philip_Soo...

jacques_chester13y ago

What's the conflict of interest?

1 more reply

tomcorrigan13y ago· 2 in thread

From the linked article:

> While dwellings are vacant for a number of reasons they are primarily associated with holiday areas

retrogradeorbitOP13y ago

Seems inner city Sydney is a 'holiday area'.

[ http://australianpropertyforum.com/blog/main/3204321 ]

ryanackley13y ago

Only one or two of the suburbs listed are actually considered inner city.

As someone who does live in the inner-city of Sydney and pay $3100USD/month for a shoebox. I would be incredulous if there were a large amount of vacancies beyond normal turnover.

There are usually bidding wars for property sales (most inner-city properties are sold by auction) and dozens of applications for rentals.

1 more reply

krolley13y ago

I'm also from Perth, but I don't see urban decay "all over the city". The worst (and only) place I probably had the feeling of some urban decay was Ellenbrook.

j / k navigate · click thread line to collapse