Empty Properties: The Solution to The Housing Crisis
At the moment, the UK is going through a housing crisis. Throughout the entire country, both rent and mortgages are increasing and with them, the cost of living is also getting higher, meaning Brits find themselves in severe distress.
There are a few reasons as to why landlords are demanding so much rent but one of the major factors is simply supply and demand. As the market stands, there are not enough properties available and with this lack of housing on the market, landlords have the ability to charge whatever they would like, whilst still knowing that there is someone out there who will be comfortable paying it. It’s these issues that are playing a massive role towards the UK’s housing crisis, so, what is the solution? It may lie in empty properties.
In stark contrast to what other sites have reported, the UK has a massive array of empty properties. In fact, there are about 268,000 properties which have been classed as “long-term empty” properties, which is where they have been left unused for over six months.
A lot of different outlets claim that there aren’t a lot of empty properties because they would prefer that these properties get developed by companies that they have stakes in. There is no sense in this approach, as following it means that there are over a quarter of a million properties that are just sitting there, useless, perfect for someone to quickly move into who wouldn’t have been able to find a home if not. As such, these existing empty properties need to be revitalised in an effort to solve the UK housing crisis.
Why Empty Properties isThe Solution to The Housing Crisis in the United Kingdom
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