The UK has reported a drastic drop in the number of empty houses in the year 2013. This is according to the Empty homes report by the MPPT Spotlight released this week. The survey is among the annual investigative reports carried out by MPPT Spotlight.
2013’s report is of particular importance since it has recorded unique figures never witnessed before in the history of UKs’ housing sector. This is good news to stakeholders in the housing sector at large and more specifically to landlords and homeowners. This is particularly important since landlords would view it as a waste of resources both in time and space to invest so much building houses that would end up lying empty for an unknown duration. The focal point of this report was to see that the empty houses were reducing and this was reported to a record an increasing trend.
How do empty houses affect the value of houses?
The value of a house if left vacant for longer periods is bound to considerably drop since it will be deemed as utterly inhabitable. What is more worrying is the fact that if several houses are left vacant within a given location. This in turn will have a ripple effect on the value of houses within that area and its neighborhood. It will mean that the both the rental value and the underlying value of properties with a largely vacated area will hit all time lows.
Vacant houses and crime.
Most criminals and sympathizers of social voices will prefer isolated areas as perfect spots to execute their activities. It goes without say therefore that empty houses being in their isolated state will be preferred havens for such activities and this will definitely mean a rise in crime level and social misconduct. A rise in the number of empty houses is therefore worrying.
Much effort is still begging.
The report released is by all measures good news to all stakeholders. It indicates a positive step going forward in future. However it’s still worth noting that although the number of empty is seen as reducing, its distribution is not evenly felt across the UK. Only 3 areas have reported marked reduction in the number of empty houses while others have only recorded minimal reduction or even none at all.
Way forward.
What is more important now is not only to focus more on how to increase tenancy but also on how to sustain the same since it will be needles to attract it we can’t retain. A deliberate effort should be put forth to invest more in research about the housing sector as a whole. This will help in generating pointers with regard to trends in the housing sector generally and factors that may contribute to a general increase in value in the housing sector. A conscious effort ought to made by landlords in packing their premises in such a way that they remain attractive even going into the future so as to reduce the rate at which houses are getting vacant.
At onlet however, we appreciate the amount of investment expended while putting up a house and therefore we put every effort to ensure the return on your investment is high. Feel free to contact us therefore as we help you to reap just as much as you sowed.
2013’s report is of particular importance since it has recorded unique figures never witnessed before in the history of UKs’ housing sector. This is good news to stakeholders in the housing sector at large and more specifically to landlords and homeowners. This is particularly important since landlords would view it as a waste of resources both in time and space to invest so much building houses that would end up lying empty for an unknown duration. The focal point of this report was to see that the empty houses were reducing and this was reported to a record an increasing trend.
How do empty houses affect the value of houses?
The value of a house if left vacant for longer periods is bound to considerably drop since it will be deemed as utterly inhabitable. What is more worrying is the fact that if several houses are left vacant within a given location. This in turn will have a ripple effect on the value of houses within that area and its neighborhood. It will mean that the both the rental value and the underlying value of properties with a largely vacated area will hit all time lows.
Vacant houses and crime.
Most criminals and sympathizers of social voices will prefer isolated areas as perfect spots to execute their activities. It goes without say therefore that empty houses being in their isolated state will be preferred havens for such activities and this will definitely mean a rise in crime level and social misconduct. A rise in the number of empty houses is therefore worrying.
Much effort is still begging.
The report released is by all measures good news to all stakeholders. It indicates a positive step going forward in future. However it’s still worth noting that although the number of empty is seen as reducing, its distribution is not evenly felt across the UK. Only 3 areas have reported marked reduction in the number of empty houses while others have only recorded minimal reduction or even none at all.
Way forward.
What is more important now is not only to focus more on how to increase tenancy but also on how to sustain the same since it will be needles to attract it we can’t retain. A deliberate effort should be put forth to invest more in research about the housing sector as a whole. This will help in generating pointers with regard to trends in the housing sector generally and factors that may contribute to a general increase in value in the housing sector. A conscious effort ought to made by landlords in packing their premises in such a way that they remain attractive even going into the future so as to reduce the rate at which houses are getting vacant.
At onlet however, we appreciate the amount of investment expended while putting up a house and therefore we put every effort to ensure the return on your investment is high. Feel free to contact us therefore as we help you to reap just as much as you sowed.