Qld’s ghost-town suburbs where homes are sitting empty
More than one-third of homes in Greater Brisbane’s ghost-town suburbs could be sitting empty as families across the state are left out in the cold amid the worsening housing crisis.
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More than one-third of homes in Greater Brisbane’s ghost-town suburbs could be sitting empty as families across the state are left out in the cold amid the worsening housing crisis.
A shock analysis has revealed an average of 34 per cent of homes were unoccupied in the city’s top 20 suburbs with the highest percentage of empty dwellings on Census night.
The figure soared to 60 per cent for the top 20 areas across Queensland.
The metrics were based on how many residences were unoccupied on the night of the last Census in 2021, with short-stay accommodation and land banking by developers among reasons for this. Other properties may be vacant while being renovated, sold or re-leased.
Property industry figures stressed the data did not show how many homes were vacant on a long-term basis, but say increasing the pool of long-term rentals is one part of the solution to the state’s complex housing shortage.
The ghost-town suburbs were mostly located in remote or regional coastal towns or small resort communities.
In worst-ranked Kooringal, Moreton Bay, a whopping 91 per cent of residences were unoccupied — nine times the national average of one million Australian homes sitting vacant.
More than half the homes were unoccupied in suburbs including Jerona, Stanage, South Stradbroke, Turkey Beach, Somerset Dam, Laguna Quays, Point Lookout and Noosa North Shore.
A glut of empty units were also recorded in Brisbane City, South Brisbane, and Kangaroo Point, with 25, 20, and 18 per cent vacancies respectively.
It comes as rental vacancy rates in Brisbane and regional Queensland remained stubbornly low at around 1 per cent, according to PropTrack.
Just 10 per cent of rental properties are affordable to low-income households, down from 26 per cent in 2017, while Queensland Council of Social Services reported a 34 per cent annual uplift in demand on homelessness services, compared to the national increase of 9 per cent.
The government’s $3bn Homes for Queenslanders plan set a target of one million new homes by 2046, yet building approval figures flatlined through first quarter 2024.
Australian Bureau of Statistics (ABS) data shows overall building approvals, dwelling commencements and completions remained stuck below 35,000 new dwellings per year — “well below what’s required to catch up,” Real Estate Institute of Queensland (REIQ) CEO Antonia Mercorella said.
“The [building approvals] data...does not tell a story of a state that’s headed towards housing recovery,” Ms Mercorella said.
“On the contrary, it appears Queensland is falling deeper into the housing crisis, and without some major systemic changes it’s hard to see how we’ll claw our way out.”
Q Shelter executive director Fiona Caniglia said incentivising property owners to make homes available for permanent rental was an important step in addressing the crisis.
“Anything that incentivises people with an empty home to bring that into the private rental market or to sell it is a positive thing,” Ms Caniglia said.
“That encouragement is really important because we know there are a lot of short-term holiday rental properties in some locations, and we welcome measures to monitor that market and the impact it is having.”
Ms Caniglia said more properties would likely be given over to short-term rentals as demand increased in the lead-up to the 2032 Brisbane Olympics.
While building new houses remained constrained by the myriad challenges facing the construction industry, Ms Caniglia commended government initiatives to increase supply as “quickly and sustainably as possible” in well-located areas close to amenities, including via granny flats and modular homes.
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Coastal real estate agent James Massey, who has owned a short-term accommodation property, said these homes could “absolutely” be part of an immediate solution to the state’s housing challenges.
“We found with our Airbnb, at best 70 per cent of the time it was holiday let, so there was a 30 per cent vacancy rate, and with the three-night minimum booking, there are always roughly two days a week where the property is just sitting there,” Mr Massey.
He endorsed incentivising owners to open their property up for emergency or temporary accommodation between paid stays.
Ms Mercorella said the Redland Bay Islands — comprising some of Brisbane’s top unoccupied areas — was the only market in the REIQ’s Residential Vacancy Report classified as “weak” at 5 per cent.
“Meaning rental listings are staying on the market (potentially vacant) for longer,” she said.
“Given the shortage of rental properties our state is currently facing, it’s not surprising that community outrage is often misdirected at property owners and investors.”
Buyers Agent Lloyd Edge said the ongoing rent crisis provided opportunities for investors.
“Smart investors should look to regions where this imbalance between demand and supply is most acute,” Mr Edge said.
“By focusing on areas with persistent rental demand, investors can not only secure sold returns but also contribute to alleviating the housing shortage, thereby suporting the broader housing ecosystem.”
Originally published as Qld’s ghost-town suburbs where homes are sitting empty
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