New Data Reveals Number of Empty Homes Across London

New data has laid bare the number of homes that sit empty across London, while many in the capital struggle to find affordable accommodation.

According to research, 19,845 homes were sitting empty for over six months in the capital in 2016. Collectively, the properties would have been worth £9.4 billion at the average market price.

Kensington and Chelsea was the borough with the highest number of empty homes. Property Planner, who conducted the research, estimates that these empty properties alone would be worth £664 million if sold on the market.

Although many boroughs saw a reduction in the number of vacant properties over the past decade, six still contain more than 1,000 empty dwellings.

Dan Gandesha, CEO of Property Planner, said:

"We'd like to see the trend of the last decade continue, particularly where prices and demand are highest. That's why it is a concern that in London 14 of 33 boroughs saw an increase in empty homes compared with the previous year.

"It would be encouraging to see that number reduce over the course of 2017, particularly when you consider that in and around London, some of the poorest workers are being pushed towards spending more than 40% of their income on rent."

If you are buying or selling, call our Lewisham team for a free, no obligation conveyancing quote. Speak to us today on 020 8297 4414.

Mandy Peters

Conveyancing Solicitors