{"id":26252,"date":"2020-07-14T11:27:40","date_gmt":"2020-07-13T23:27:40","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=26252"},"modified":"2020-07-14T11:27:40","modified_gmt":"2020-07-13T23:27:40","slug":"there-are-two-vacant-properties-for-each-homeless-person-in-nsw","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/there-are-two-vacant-properties-for-each-homeless-person-in-nsw\/","title":{"rendered":"There are two vacant properties for each homeless person in NSW"},"content":{"rendered":"

PHOTO: Australian property<\/strong><\/p>\n

In NSW, more than 37,175 people<\/a>\u00a0are homeless while more than 68,000 properties sit vacant. That equates to two empty properties for every person experiencing homelessness in this state. Indeed, many would say that it\u2019s unjustifiable for a society to allow some of its members to go without shelter, while others own vacant dwellings.<\/p>\n

The estimated number of vacant properties in NSW was calculated by taking the overall amount that were indicated as empty in last year\u2019s Census and converting that number with an analysis of water usage data by Prosper Australia, which removes temporarily vacant properties from the equation.<\/p>\n

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How are real estate agents coping with the crisis?<\/a><\/h2>\n<\/header>\n<\/div>\n

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Wealth accumulation driving homelessness<\/strong><\/h4>\n

As former Greens Senator Lee Rhiannon pointed out in 2017, the number that is left is an estimate of long-term speculative vacancies. \u201cThese aren\u2019t properties in between buyers,\u201d she told Sydney Criminal Lawyers. \u201cThey\u2019re being deliberately left vacant to speculate on rising prices.\u201d<\/p>\n

While there\u2019s a gaping lack of affordable housing in Australia, along with talk of a housing shortage, there\u2019s plenty of property speculation going on. Prosper Australia findings indicate that nationwide there are about 300,000 speculative vacancies, which accounts for 3% of all housing.<\/p>\n

According to Ms Rhiannon, it comes down to \u201ca relatively small number of people with huge wealth,\u201d who \u201cneed a place to park it.\u201d She questioned why someone would \u201cbother with tenants and real estate agents\u201d when they can simply make money by letting their property \u201csit there.\u201d<\/p>\n

READ MORE VIA THE BIG SMOKE<\/a><\/p>\n

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