1 million buy to let properties vacant
The Empty Homes Agency reports that there are almost one million buy to let properties standing empty in the UK due to the credit crisis.
The EHA reports that an 85% proportion of empty homes are owned by landlords.
The news comes following reports that first-time borrowers are finding it difficult to break into the buy to let mortgage market, with sales on terraced housing (traditionally favoured by new landlords) hitting a low.
November 17th, 2008 at 9:14 am
No doubt the number of empty houses will drop as demand rises with repossessions.
November 20th, 2008 at 9:03 am
Yes, those landlords will soon find things change if Northern Rock carries on its zero-tolerance policy of repossessions. But is the situation really as bad as the EHA makes out? If there are so many empty homes, why is the government always talking about building new housing?
December 18th, 2008 at 6:56 am
Good question. It doesn’t add up!