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3-year property boom leaves Melbourne with empty homes

Published Wed, Dec 9, 2015 · 09:50 PM
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Sydney

AUSTRALIA'S three-year property boom is leaving Melbourne awash with empty homes.

In the country's second-biggest city, growing numbers of local landlords and absent overseas owners have locked up their properties - foregoing rental income as they focus instead on price gains, a report by Prosper Australia said on Wednesday.

Some 82,724 properties, or 4.8 per cent of the city's total housing sto…

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