Create a tax on empty homes so it gives an incentive for the owners to put it on the market, creating increased supply.
There are estimated to be up to 90000 empty homes that are not in the market to be sold or rented out. It seems that investors are mainly motivated by capital gains, with negative gearing subsiding their investments. This is harmful to homebuyers and tenants as it cuts supply, therefore increases the cost of housing. By placing a tax on these empty homes, it would give investors an incentive to either sell the property or rent them out. Investors will be taxed until the property becomes occupied again.