'Buy-to-leave' fuelling empty homes problem

News Category: Management

This article was brought to you by Rentman the premium rent management software

Up-and-coming areas in towns and cities across the UK are witnessing growing levels of empty new flats, according to an empty property expert.

The problem is particularly acute in the north of England, with large numbers of flats in desirable areas being bought but then left empty, explained David Ireland, chief executive of the Empty Homes Agency.

New developments in areas such as Leeds and Salford Quays are up to 40 per cent empty, he claimed, with the figures including unoccupied residential lettings.

"What we're finding is that some of the new flats, and it is mainly flats, that are being built have got very, very high vacancy rates," he said.

"If you look at some of the new developments in Leeds, for instance, the vacancy rates there are about 35-40 per cent. Also around Salford Quays it is a similar rate," he added.

Under current government rules, a landlord is exempt from paying council tax on a property for up to a year after it becomes unoccupied, though a report from the Empty Homes Agency claimed that these guidelines are under review.

Find out more about letting agency software