UK Housing Market: Long-Term Vacancy Hits Nearly £90 Billion Mark
- Reports
- 5
- Developments
- 7
- Repetition
- 60%
New informationRepeats or wire copies
What happened
Research published by House Buyer Bureau found that there are 754,264 vacant homes across England. Of these, 303,185 are classed as long-term vacant, having been empty for more than six months. Based on regional average prices, this long-term vacant housing stock is estimated to be worth approximately £88.6 billion. London has the highest estimated value of this long-term vacant stock, comprising 47,287 properties.
Why it matters
The high volume of existing properties sitting unused highlights a significant issue regarding housing supply in England. The concentration of the highest value of this vacant stock in London draws particular attention to the capital's housing market dynamics.
Who's involved
How it developed
Newest first. Tap a step to see who reported it.- Victorian housing stock attracts buyers in the London area.Sub-event
New data highlights regional disparities in tenanted properties across England, including London and the North West.1 source
- TAB and Together report on semi-commercial property market trends and rising mortgages in England.Sub-event
- The London market is showing an annual price decline.Sub-event
- ONS reported on rental growth rates in London, and South East was noted as the slowest region.Sub-event
- Rightmove reports on the current state of the UK property market, noting price drops and the inclusion of London.Sub-event
Guardian reports on the English property market.1 source
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The entities involved
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England
country in north-west Europe, part of the United Kingdom
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London
capital and largest city of England and the United Kingdom
Related events
- London's submarkets are now understood to be integrated into the broader European real estate market structure.
- Average house prices are being discussed in the context of the UK property market, specifically involving England, Wales, and London.
- Housing market pressure in Brixton, London.
- Data was provided regarding property purchases in England, based on an analysis of Companies House data.
- Peer cities, including London, Manchester, and Glasgow, are being compared regarding their urban characteristics and housing density.