View more on these topics

Number of empty homes across England rises: MHCLG

Data collected by the ministry of housing, communities, & local government shows that the number of long-term vacant properties across England rose 5.3 per cent in the 12 months to October 2018.

The number of vacant properties recorded at last count was 216,186 – representing £53.6bn worth of stock, according to the report.

Portsmouth saw the largest percentage rise in long-term empty homes in 2018, at 101.5 per cent. This was followed by Southwark, at 56.6 per cent.

Meanwhile, London at 22,481 had the highest number of empty properties in the country, followed by Birmingham, at 4,283.

The report outlines ‘long-term vacant homes’ as properties which have been empty for at least six months.

Project Etopia chief executive Joseph Daniels comments: “This remains a national scandal that is not going away, pointing to a collective failure to really get to grips with this problem.

“The stubbornly high number of empty homes is compounding the housing market’s deeply entrenched problems with lack of supply remaining a key driver of high prices and low affordability.

“New homes are not being built fast enough and the constant spectre of abandoned properties aggravates an already tough market, particularly for first-time buyers who desperately want to claim the keys to their first property.”

The residential landlords association policy manager John Stewart says: “The scandal of empty homes at a time when so many are finding it difficult to access accommodation is just one reason why pro-growth tax is needed.

“The government should support good landlords to do what they have always been good at – investing in property and bringing it back into long term use.”

Recommended

House, plan

New build starts up 12%: MHCLG

The number of new build homes starts in England was up 12 per cent in the quarter ending September 2018, compared to both the previous three months and the same quarter last year. Statistics from the Ministry of Housing, Communities and Local Government show an estimated 44,740 (seasonally adjusted) dwellings started to undergo construction in […]

lifetime lease purchases
2

What is a lifetime lease purchase?

Lifetime lease purchase deals involve raising finance but not on current properties. Rather, they are taken out when consumers move home. They are called lifetime lease schemes. Although not identical to sell-and-rent-back options, they are unregulated too. Lifetime leases are designed for clients who want to move but either cannot afford to or don’t want […]

Countrywide earnings down 50%

Embattled estate agent Countrywide has revealed that earnings halved during 2018. The group’s annual report details that adjusted earnings before interest, taxes, depreciation and amortisation totalled £32.7m in 2018 compared to £65.6m in 2017. The group also reports losses of £218m during 2018 compared to £207m the year previous. Billing 2018 as ‘a year of […]

Eddie-Goldsmith-MS-CUTOUT-250x255.jpg
11

What exactly is a missold mortgage?

There are many breaches that constitute a missold mortgage but the fundamental question is whether people were treated fairly by their adviser or lender. I am looking at complaints that a recommendation was inappropriate for debt consolidation, capital raising, extending the term, affordability, arrears and right-to-buy mortgages. There are many breaches that constitute a missold […]

Newsletter

News and expert analysis straight to your inbox

Sign up