In this inner city suburb, one in three homes are empty
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- เผยแพร่เมื่อ 22 ม.ค. 2023
- The harbourside enclave of Millers Point, which was once known for its social housing, has become the Sydney suburb with the highest proportion of unoccupied dwellings, with 34 per cent of its homes empty on the most recent census night.
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An empty property tax would decrease this problem.
This is too hard for whatever reason
@@dannnsss8034Negative gearing should end.
Don't work at Miller's point
So it went from public housing, to assist those who absolutely needed it to standing empty for the rich to be negatively geared. Disgusting.
It cannot be negatively geared if it is not rented out. It is something else here.
It was an insult to the hard working population of Sydney, who spend hours commuting to the city, that welfare recipients were housed in an exclusive harbourside enclave, where we could only ever dream of living.
@@ellenmcaleese7004 don't worry, the average 'hard working' population can't afford it anyway. It went from the poor class straight to the rich class. Completely bypassed the middle class. Furthermore, you're acting like it was a whole suburb, it was only select buildings reserved for public housing. I think income classes need to be mixed otherwise you create ghettos which doesn't benefit anyone. If your the child of a poor family you're far more likely to benefit from a rich suburb that values education, working that's surrounded by opportunity than a suburb that is more prone to crime, homelessness drug abuse etc which creates a vicious cycle.
@@broskies1 I agree that income, age and other groups need to be mixed, or we end up with ghettos. In my view major flaw was that government allowed transferring right of use to next generations. That was not a good idea. It must've created sense of entitlement in some of the people who lived there.
@@dubbartolec549 yeah I agree with you on that, I think that's why in the 80s that was abolished.
Great video. Unfortunately, 90% of all those properties were sold off to a Chinese group. Renovations were being completed in 2020 with only some properties sold to Australian investors. The towers near the bridge is one of them. As you said, it’s a ghost town now with only a handful of residents occupying these buildings. As a Sydney resident myself, I used to and still love visiting the rocks due to its history. And like all governments, they don’t care about the people, they care about the $$
I don't understand how foreign landlords can even be in the game? Due to heritage overlays, there's minimal scope for redevelopment of the terrace houses, and overseas buyers aren't supposed to be legally able to _existing_ housing stock. Dodgy as.
@@damonroberts7372 100% agree with you. Dodgy as. When the towers were sold and all commission residences moved out. I tried to do a video inside these apartments. Unfortunately I was stopped by the security guards and they told me that a Chinese company developers will press charges without questions. So he was nice enough to say move on.
@@damonroberts7372 China OWNS Australia. It's sad. Me or you wanting to renovate heritage listed houses, we would have to jump through hoops until we would give up.
One rule from sum, other rules for some.
Government wants you poor and dependent. Remember...
"You'll own nothing and be happy."
@@JustAnotherReviewwithAlek are you talking about the Sirrus building? IF so, its not a Chinese company that owns it, ive worked there on the redevelopment, JDH Capital is an Vietnamese/Australian company.
We should learn from Hawaii about foreign ownership of property. Darwin Port is another example of foreign interests flourishing in Australia.
Corruption and elite money in properties is the biggest problem facing Australia today.
The inquiry into Gladys's dealings whilst in power will eventually be made public?
We had a small and wonderful community, it wasn’t perfect, but it was our community. 😔
Miller's point. bad last name
Many homes in Millers Point have been sold to private developers and a lot of work was needed to bring up to standard, which the public purse could not afford. Many of those homes have been completed but many are still in the renovation stage or awaiting renovation. Much of this work was hindered by the arrival of Covid and subsequent labour and materials shortages. The census data is now coming up to years old so it would be interesting to see if much has changed since then. To walk around the area now it is evident that work has been happening.
What standard did they need to be brought up to?
In line with safety and building standards, or in line to the standards of a rich buyer?
Thanks for the memories lad. I lived in lower fort st for a few years when I met my first wife who was living in a housing commission place, sharing with another lovely young girl, both struggling to get by but managing to eek out a happy and quiet life in the middle of the city. A few years later, as we each found work and were able to save a little and find our feet, we moved on to let others that were struggling like we had been have a chance to live in a quiet beautiful place in the middle of Sydney that was the most wonderful community of people that was exactly the same as living in a tiny country town anywhere out in the real Australia over them hills out back of Windsor. Living amongst people that quietly went about their lives, working, finding their way, struggling, winning, losing, just like anyone else as part of a very close knit community that lived in little, cramped but awesome three storey houses with each floor still housing a different generation of a single family. Where I lived, each floor was a different housing commission family, but 90% of the places around were still wharfie houses and passed down through the ages. It was the most incredibly brilliant experience that a young man could ever have had. Kathy and I and our son Daniel, who was born while we were living there, we are all proof of the value of our social security scheme and the housing commission schemes that still function today and always must, and with our flatmate Sue and most of the others in our street in commission places, all very good friends to us tho lost in the mists of time now sadly, we all went on to live happy productive lives elsewhere and others came before and behind us doing just the same. We were and are so very blessed to live in this wonderful country of ours, this great south land of the holy spirit as it was named by Dutch explorers many, many years ago. Thanks for filling my heart with some extraordinary memories, I am very grateful, thank you
people's money
@@angelachanelhuang1651don't know what that's supposed to mean, but whatever. The original commenter's words were very poignant and painted a picture of a wonderful and rather unique life, definitely enviable compared to how many have it these days.
Lovely nostalgic words and thank you for sharing. It's easy to become despondent when we see the en-masse apparent sell-out of our culture to others who care only for one thing - inve$$$tment. Take care - Dave
Yet they forced out all of the long time residents. I lived there for 20 years and we were all shoved out. There were residents who chose to end their lives rather than move from the only thing they’d ever known. What they did to us, and many had been there generations, was despicable. It was. That’s all there is to it. 😭😭😭😭😭
Those in the public housing where living million dollar homes that needed high maintenance, Public housing is just that, some people sub let rooms or floors and rent out garages at high prices making a profit out of a commission home They went from two/ three story homes to single story homes or units with aircon and lifts .
They did not own the homes the people did . I worked from 16 and got good wages and could not afford to live there and that explains why old commission home selling for millions builds way more Commission homes to house even more people .
High maintenance lol what a joke, how is the maintenance different from anywhere else?
In Germany Sweden harbour fronts are all converted to tourists, pubs and housing for college students therefore create vibrant city centre
In Australia all owned by Chinese
The investor s who own those properties, probably live overseas somewhere,
Maybe. Maybe they are local and waiting for another investor who want to redevelop the whole area.
Either way, an empty property tax would reduce the issue.
A ban on foreign ownership couldn’t hurt either.
Do keep in mind that some people have lived in Australia for many years (even decades) without becoming citizens. Forcing these people to become citizens would also force them to vote. Personally, I don’t think it’s a bad thing, but either way it is a thing.
@@JamielDeAbrew ;
Here's a clipping (from 2011) from an internet search:
"Foreign nationals to buy are able to buy second hand dwellings if they hold a temporary visa
New laws dictate that foreigners can no longer buy existing Australian homes as investments.
Temporary residents may buy one existing home TO LIVE IN, but MUST apply first with the Foreign Investment Review Board. Then they must sell their property when they leave Australia.
Foreign investors can continue to buy new or off-the-plan properties without limitation.
International students who become permanent residents can buy property".
You do know that many countries, apart from OZ, have permenant residency visa.
EG Singapore, NZ and the USA.
When you have studied hard, work hard and earn a good salary and good savings but live in a shoebox in Pyrmont it's different to feel sorry for them
You’re assuming so much in your statement that it indicates a great deal about you personally. Clearly you think you’re hard done by. Best take that up with your therapist and stop being so petty and jealous. It’s an ugly personality trait.
I hope you realise that nobody feels sorry for you
Blame the system - not its victims
@@teraris 👏
Excellent reporting. Very informative and balanced.
Why blame C... d for everything, I am sure that things were bad for a few years now, people
have no money.. I know of a few people near me who have gone back to mum and dad.
Worst to come, people are struggling
True
You are correct, the problems in the rocks have nothing to do with this virus tho it’s impact is dreadfully sad, for we were protesting and blockading the street back in the ‘80’s when we lived there to stop them just selling it all off and bulldozing these magnificent historic homes back then. They were actually, really, seriously going to bulldoze some of the oldest historical buildings we still have left. They did take so many beautiful buildings and if we hadn’t stopped them there would be nothing but high rises throughout the rocks
@@philipbyrnes7501 the virus is a phantom. If there was a virus spread by breathing then December 19 to March 2020 would have seen our hospitals full of people and the death rate well above trend. Sydney and Melbourne have a healthy (pardon the pun) Chinese population. Do you really believe no one died from pneumonia from 2020 on?
Globalisation at ANY cost
What a shame.
Imagine if the makers of The Block got hold of some of these. But then, thankfully, they didn't.
It was bad enough when the R-soles took over apartments in Bondi.
The question is do the needs of the fewer outweigh the needs of a greater number? More people can access social housing now.
The unpallatable answer to the high cost of housing is not increasing supply - we never really increase it enough to meet demand, and what is built is generally not what renters would like to live in - but to cut immigration as 60% of population growth come from it. Lowering demand would allow more people to have a house instead of living in an apartment. Houses make couple s more willing to have families.
That's a false dichotomy, the government has more options for funding than that. Like all neighborhoods, what makes one a good place to live is the people in it, not the property prices. The Rocks is what it is because of the people who lived there, they made it great. But now because it is, they are expected to make room for rich people?
Rich people have bad taste, who would actually think that would improve the culture of The Rocks.
Also, like did you even watch the clip? The title literally says ONE IN THREE HOMES ARE EMPTY. Are you just not aware how this is blatantly contradicting your statement that "we cannot meet demand"? Are you going to explain it?
Demand is not simply a demand for housing. Including in the housing market is the demand for speculative investment. If the question is one of needs, then I ask why is the need for housing competing with the need to increase speculative portfolios in the first place?
Shelter is a fundamental need; it should be treated as a right. Imagine if we treated healthcare the same way and couple price to the profit margins of insurance companies. Haha what a though?!
If selling funds significantly more and better housing then that is for the greater good. Handing down rentals through generations doesn’t happen anywhere else like that so it isn’t unreasonable for people to pay what anyone else has to pay to live there. The rental problem is a different problem. Agree there should be a vacancy tax
Like all neighborhoods, what makes one a good place to live is the people in it, not the property prices. The Rocks is what it is because of the people who lived there, they made it great. But now because it is, they are expected to make room for rich people?
Also, the greater good of who? Those are the people public housing is for. It's not like they are making way for infrastructure that everyone uses.
The government has more options for funding than that, it's just also happens to be one that property speculators preferred.
Who owns these properties now? Locals? Overseas folk? Who? I’d like to know.
Last time I checked, OS folks, unless they are permenant residents/citizens, aren't allowed to buy established homes.
Cool little story mate!
Great vision and research.
Used to know a retired platoon SGT that lived there. Visited him in 2001 place looked a bit rundown.
What is not being discussed in this report is that these buildings often required enormous amounts of money to be regularly spent fixing and maintaining them - often as much or more than was being paid in rent. Which means that taxpayers were paying through the nose to support public housing tenants in waterfront CBD properties. Where is the social justice, or even common sense, in that? At least more and higher quality housing was created for public housing tenants as a result of the sale, and properties that were costing the taxpayer to maintain at a huge loss, are no longer on the books bleeding NSW taxpayers dry.
they didn't do it for the people or the tax payer they did to make themselves and their friends party donators and colleagues richer by investing in kicking these people out and developing gentrifying the area for their own gain corruption is rife within the property development market and the LNP . it benefited them personally no the people who have a right to live there . I take it you're a liberal party voter . and are blinkered to the corruption and injustice of this .
@@sprintershepherd4359 With respect, I stopped voting Liberal some time ago. On top of this, you appear to have failed infants school level basic arithmetic, ( as nobody can sustain owning something that costs more to maintain, than it brings in to cover those costs,) and were not paying attention to what the previous state Labor government did when in power.
We still have cabinet members of the previous Labor government in Jail for their corrupt practices - and they were up to their neck in securing donations from developers, and throwing the people they purport to represent under the bus, as those donations were a quid quo pro for selling public assets,, favourable zoning and building approvals. There is a conga line of shame of these people, starting with Obeid and his cohorts, some of which went to jail. and others who were up to their necks in corruption, but were not gone after to the full extent of the law. You can verify what I am saying with something as simple as a ten second Google search.
So lets not pretend that either side of politics comes to this subject with clean hands and a history of virtue, shall we?
Nobody has a right to have their housing paid for by someone else, particularly when they are fully capable and have a moral obligation to take care of themselves. We seem to have gone from an initial situation of government assistance being only for a very small minority of people who cannot take care of themselves, to much larger numbers of fully physically and mentally able people somehow people being "owed" multi generational housing and other "free" stuff on the taxpayer dollar. What is even more ludicrous, is that sense of entitlement from public housing tenants, is in places where the house they are living in is sitting on multi-million dollar real estate. It just isn't sustainable, for either governments or businesses to do that - they go broke eventually, and when they do, the results are disastrous, as has been seen overseas only recently. Just because your great grandparents were considered a charity case, or a previous government decided to provide subsidised housing to get workers to live next to what was considered a vital industry, ( in this case, for dock workers) does not mean that you are entitled to live on what has become some of the most expensive real estate in the country, and in fact the world, that is owned by the government.
It is not like what has happened at Millers Point has not happened in other parts of Sydney before - and under Labor governments as well. Nor is it rocket science to work out that the cost of maintaining very old low density housing, is a far less efficient way of providing low cost housing, than being paid out handsomely for the open market price of that asset, then using that money to provide good quality, higher density housing elsewhere in the suburbs of Sydney, where prices are still actually fairly high, but you can make those dollars go a whole lot further. Which we have proof in absolute spades, is what happened with the money that was generated by the sale of these assets, that were to put it bluntly, falling apart from old age, and were bleeding the government dry to try to maintain. There are now a whole lot of public housing tenants living in new apartment complexes built with that money. I am not blind to corruption or injustice on either side of politics - I am pointing out that there is a very sound rationale behind the decisions taken, and a very real public benefit that took place as a result.
Furthermore, I am in complete agreement with something that Jamiel De Abrew said earlier in the thread - unless you are using an asset to generate income, you should not be allowed to let real estate sit empty and still be able to claim tax deductions on it. I think that if we closed that loophole, that we would see at least a 10% to 15% increase in rental accomodation, and in places like Chatswood and other high density housing areas, like the Sydney CBD, it would be much higher than that. We have seen a large number of particularly foreign investors using Australian real estate as a form of land banking, to preserve the value of their money outside of their home government and tax system's reach. I think that is entirely fair that if you are using real estate as an investment, that unless it is generating rental income, you should not be able to claim tax benefits.
@@DanielCPhillips cool
Heritage listed townhouses a great facade for high rises above one would think
My family lived there for generations being from maritime background yes they were turned to housing after the maritime shut down but what they did to this lovley community when housing decided to sell privetly destroyed a tightnit communuty that looked out for each other the young looked out for and supported the eldery community and the elders kept an eye on the younger ones always was safe, new year street parties christmas day drop by to multiple houses sharing what we had now is just a shallow shell of what it used to be a boring lifeless place
And yes i have brought my own house and unit now and moved on with my family but my mum and extended community family have all be shatterd to be forced to leave after generations most of who were born and worked here to help build sydney up to what it is today such a shame
Where is people's money?
Will kingsford smith airport be redeveloped? if the new airport can absorb all flights
I live in Millers Point. Very empty vibe.
What a waste of the building No one lives there Either use these places for the homeless There is a shortage of homes
The homeless want to be homeless, they experience absolute freedom from all responsibilities whatsoever, poverty is the minor drawback. Taboo take I know.
@@Veldtian1 yup, sometimes you cannot make someone lives in a home.
Empty Property tax + ban foriegn ownership after 2030 (giving them time to sell).
Return millers point to ORIGINAL OWNERS!
Alan Joyce effect, no one wanted to live anywhere near him.
150 year old huts (real, see photo from observatory in museum of Sydney - it is not similar buildings, itis THESE buildings still standing!) with crazy land price. Everything to explode and built new prospering area with scyscrapers. And everybody who spen all their life in social housing should go not close than Penrith.
a society than stomps its own culture can never last
Most likely land banking by developers.
Vacancy tax based on value, problem solved
Who can afford to live there ?
A vibrant and close-knit community was destroyed for the sake of greed.
GENTRIFICATION 101
Don't ask us....
Ask comrade Gladys...doddgy deals
much!....
How dare them Grubs do that!
Just thank your government whom allowed $401.6 billion foreign investment in Real Estate market for 2020 2021 2022 while the citizens was locked up in their homes and couldn’t cross state borders even so very few local citizens bought new homes . This amount of money was enough to overheat the market
I used to walk that area going to Sydney dance company
its better that rich people live there housos are to rough and belong way out in the country with the cows
The Castle! It's the vibe, you just can't take someone's home! Yep they can and they do! Darrell Kerigan!
Still looking for that house in britain
Wait for brexit to really bite. You'll pick up a 2 story Edwardian in Chelsea for $80,000.
Chinese now own them all no doubt.......Australia slowly becoming something else
There is a GOD
China.
Because NSW and Sydney in particular is a hole
Com on, NSW is not that much of a hole...Sydney MAYBE nowadays.
Is it still raining in Melbourne?
@@RUHappyATM lol rain... Is that still all you have to complain about 😂
Malburn, as they say it because they can’t even speak properly, is the ahole of Australia and Chairman Dan is it’s haemoroid.
@@piratepete4322 lol no Darwin is the ahole of Australia and Sydney is the equivalent of the boil on the ahole of Australia...
Lol Sydney you mean LEBOney 😂
Can't understand the voice-over with the narrator's speech impediment 🤷
I haven't noticed one. I can hear him fine and I've got dodgy speakers.
Yeah because they have been bought by investors