Seems to me that quite a number of houses coming to the market have been empty for some time. Here is an example of three listings from MyHome in the last hour that do not seem to have been rented or owner occupied for a while. I presume they are not PPRs but investment properties. I am sure other people can point to numerous other similar properties that have recently come to the market.
Some big questions for me are:
I wonder how many such units out there have been kept empty for the past number of years while vendors waited for prices to rise?
How were they able to manage this if the houses were not rented, or are these vendors in arrears and now the banks are forcing them to sell?
How many of those vendors will now be tempted to put them up for sale and will this have an effect on supply and prices?