I bought an off the plan apartment in Chatswood once but decided not to occupy it when completed but to rent it. Rental was not enough so I left it empty to keep it new while I tried to sell it in its new smelling state. This worked well and I got a good price on sale. Another reason for empty homes or units.
Another fad of mine is that government should look to property as a source of revenue to supplement the reliance on wages tax.
Figures show a greater growth in property values than wages growth so this would give government a greater growth in revenue and also help to dampen the growth of property values thus assisting first home buyers and deterring investors who get enough encouragement via negative gearing and CGT incentives.
Skilled investors can weave between state land tax threshold and non cash deductions to ensure no tax is paid but a Federal land tax on excess property would mean they contribute to costs such as defense, law and order on a user pay basis.
I commended this to ScoMo to help balance his budget but it will be out voted by members with undisclosed interests in multiple properties or similar party supporters who do not have the best interests of the country at heart.