Thousands of private houses 'lying empty'
The number of private properties in England which have been lying empty for a period of six months or more exceeded 300,000 in 2008 for the first time in five years, it has been revealed.
According to research by Halifax, this was a rise of nine per cent from April 2007 figures and the numbers were at their highest since April 2003.
However, in London, the figure was at its lowest when compared to other areas of the country.
Such news may convince Britons that it is a safer option to look for flats to rent in Eltham or another part of the capital, rather than buy and risk repossession and the possibility of the home standing empty.
Suren Thiru, economist at Halifax, said: "In many cases, high levels of long-term empty homes reflect relatively high levels of deprivation, low average earnings and high unemployment."
Meanwhile, Paul Holmes, chief executive officer at Firstrung, recently said that in helping attract first-time buyers to the housing market, the recent stamp duty holiday was a "desperate failure".
Written by Ben Carter
Published 23rd November, 2009
© 2009 Estates IT Limited
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Some 300,000 private properties in England have now been empty for over six months, it has been revealed.