ANALYSIS: Are Australia's '1 million empty homes' the answer to the property crisis?
Are the empty houses scattered around our cities the solution to the housing problem?abc.net.au/news/housing-property-australias-one-million-empty-homes/101396656The recent release of 2021 Census data revealed a shocking "one million homes were unoccupied".
There has been a great deal of speculation about how this has happened. Has it been caused by overseas millionaires buying up housing and leaving it as an empty investment? Is it Airbnb taking up homes that could be used for families? Or are cashed-up Gen-Xers double-consuming by living in one house while renovating another?In fact, we've got a pretty good idea of what's going on.
Since the release of the data, many journalists have pointed to this startling number of empty homes, portraying them as abandoned or left empty. There is almost certainly a much more ordinary and less startling story to tell. We suspect there are three main explanations.
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