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Posted: 2024-07-12 23:49:39

There were almost 100,000 homes sitting vacant or under-used in Melbourne in 2023, a new report has revealed.

Prosper Australia's Speculative Vacancy report, which examines water meter usage data, reveals 27,400 homes, or 1.5 per cent of all dwellings in Melbourne, were left entirely empty in 2023.

With the inclusion of homes that recorded less than a quarter of the average single-person consumption of water over the year, another 70,400 homes were significantly under-used last year, lifting the total to almost 100,000 homes, or one in 20 dwellings across the city, sitting vacant.

"That's equivalent to two and a half years of new construction, which is enough to house everyone on the Victorian public housing waitlist twice over," said Prosper Australia director of research and policy Tim Helm.

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