Long term unoccupied homes in England now top a whopping 200,000 plus. A scarcity of new homes for sale has seen housing prices rise at a time when wages struggle to keep up. This is leading to a steadily increasing number of empty homes.
It is estimated that currently about 2 billion pounds worth of homes sit empty near London. This is having an impact on the economy because, as they sit empty, there is no one paying property taxes to help rebuild the economy.
- England has 200,145 long-term empty homes according to an analysis of government figures by an investment company.
- In London alone, there were 19,845 homes sitting idle for over six months in 2016
- Over the last decade the number of long-term vacant homes in England has dropped 36.4 per cent from 314,719 in 2006 but it has barely moved year-on-year
"The tables have turned in London where one of the most deprived areas has swapped places with one of the wealthiest as the capital’s worst performer."