Number of long-term empty homes drops in the UK

The number of long-term empty homes in England has decreased by six per cent, the first drop in numbers for three years, according to the most recent Halifax Empty Homes survey.

According to the survey, the number of long-term empty houses dropped from 316,056 in April 2009 to 295,519.

Borrowers looking for cheap mortgages will be interested to hear that almost two-thirds of the UK's empty houses are in the north, with the highest number in the north-west 64,596.

Suren Thiru, Halifax housing economist, commented: "It is encouraging that the number of long-term empty private homes has fallen, reversing the increases recorded over the preceding two years.

"Nonetheless, it is concerning that the problem of empty homes remains substantial in a number of areas."

In the 16 areas with the highest number of empty homes, house prices are lower than the national average, earnings are lower and unemployment is higher.

Leading global estate agents Savills has predicted that the gap between the upper and lower tiers of property in the UK will widen in the next five to ten years.
 

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2010-12-20 13:48:33 © Moneyextra.com