Empty homes exceeds one million for the first time

Considering the supposed housing shortage, for the first time ever, the number of residential properties that have been empty for six months or longer has exceeded one million.

“About 50 per cent are empty for transient reasons, such as the owner dying or having financial difficulties. However the other half are empty due to long-term failures such as abandoned regeneration schemes which leave compulsorily-purchased homes boarded up, blighting entire areas,” says David Ireland, head of the Empty Homes Agency.

There are a number of local schemes that offer incentives to landlords and property investors to develop and reinstate empty properties.

“Owners can lose as much as £10,000 per year through lost rent, repairs and security measures, especially if the property becomes a target for vandals”

So for many landlords it would be worth contacting their local council to see if any such schemes are on offer.

Read more in this article in the Independent

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