Monday, August 27, 2012

Massive demand for homes where 4% are empty?

Housing pressure could be eased by empty homes use

The part of the West Mids where there are the most empty homes has massive demand and growing demand and well demand. Yeah sure. Or cannot people afford to live any more perhaps - not such a good headline?

Posted by chrisch @ 10:35 AM (1161 views)
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2 thoughts on “Massive demand for homes where 4% are empty?

  • Joe Morgan, regional director at GMB, said: “That there are so many empty dwellings at a time when there is an acute pressure on the housing market signals that there are not enough penalties against leaving a property vacant.”

    Couldn’t have said it better myself. If only there were some kind of property-based tax which would provide owners an incentive to either let it out and earn some revenue, or sell it to somebody who will make better use of it.

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  • mark wadsworth says:

    Drewster, indeed. Economists down the ages have struggled to come up with something, but whatever taxes or tax breaks they have for earned income, whatever restrictions they have on new construction and whatever regulations they impose on banks, they’ve never come up with anything which seems to work.

    Labour abandoned its plans to reduce empty property discounts for Business Rates in 2008 after it turned out that a lot of hitherto vacant empty commercial premises were being brought back into use and those which were already in use saw a modest reduction in rates payable.

    Oh, hang on…

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