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700,000 Empty Homes In Uk - What Happened To Supply & Demand?

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700,000 Empty Homes in UK - what's going on?

http://www.hbosplc.com/home/home.asp

"Despite a chronic housing shortage, London has close to 100,000 vacant dwellings, 3.1% of its total dwelling stock"

Doesn't seem fair really, when there are 100 000 people living in temporary housing.

Obviously there is no housing shortage. There is a problem with the market which means that not all housing supply is meeting housing demand. This is because some of the housing supply is meeting speculative demand instead. i.e. people are basically holding empty properties in the expectation of price rises. Even landlords with voids who are actively trying to rent their places out fall into this category.

frugalista

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Obviously there is no housing shortage. There is a problem with the market which means that not all housing supply is meeting housing demand. This is because some of the housing supply is meeting speculative demand instead. i.e. people are basically holding empty properties in the expectation of price rises. Even landlords with voids who are actively trying to rent their places out fall into this category.

frugalista

Its called the De Beers response. Why do you think a common piece of crystaline carbon costs a mint? Shame they can't make houses out of diamonds. :rolleyes:

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As a topic this is getting as ragged at the edges as SIPPS (and I'm a bear!). Still, if you are interested try the folowing links:

http://www.emptyhomes.com/

http://www.emptyhomes.com/resources/statis.../statistics.htm

http://www.housepricecrash.co.uk/forum/ind...ite=empty+homes

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Edited by Sledgehead

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700,000 empty homes and only many millions of extra people since 1997 to fill them!

I well remember a friends london flat being purchased by an investor in 1984 for £60,000 which was an immense amount of money then. It was kept empty and without tenants for 4 years.

The foreign investor from Singapore simply kept it empty till he sold it when his money doubled.

He missed the inflationary property crash and rising interest rates, if it had tenants in it would have been more illiquid.

There are 460 houses of excellent build and solid quality near me. Each one is being kept boarded up and empty.

They are all under CPO as there is a plan to demolise them and widen a road which is a bottleneck - of course all they have to do is build a flyover.

The reasons why houses are empty are many and varied, but in 99% of cases the market works and people will try to release stock. It seems to be only when houses are under the control of the council or LHAs which do not respond to market forces but to policy dictate and polticial adendas that houses are delibrately kept empty and boarded up for years when everyone wants one.

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Err what happened to the other 300000 ?

There was a programme on recently saying there was 1 million empty houses in the UK.

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