Tweet of the day: Penthouse sitting vacant for three decades

Melbourne isn't the only city struggling with empty towers.

According to Prosper Australia's 2014 Speculative Vacancies Report, authored by regular Property Observer contributor Catherine Cashmore, an estimated 4.4% of Melbourne housing is likely to be vacant.

With capital gains far exceeding rental yields, the report says investors don't have enough incentives to rent out their properties, leaving many homes sitting empty.

The report, gathering a significant amount of media attention, has some criticising policy makers and urban planners and others sharing their frustrations with empty properties in their neighbourhoods.

You can view the top 10 Melbourne areas with the highest vacancy rates according to Prosper here.