Empty home numbers in London fall by half over the past ten years

New analysis of recent government figures by specialist insurance broker, Towergate, has highlighted that during the past decade London has seen a dramatic fall in the number of properties left empty for over half of the year.

Related topics:  Property
Warren Lewis
24th April 2017
London

According to the findings, between 2006 and 2016 the number of properties in the capital left unoccupied for at least six months has fallen by over half (51%).

However, despite the long-term trend, Harrow saw the number of empty properties rise from 97 in 2015 to 651 in 2016 – a 554% increase.

More detailed analysis of the breakdown of the figures by London boroughs has revealed that Lewisham, Harrow, Kensington and Chelsea, Haringey and Camden were the only boroughs which have seen the number of empty properties increase since 2006.

Jo Thoy from specialist Insurance Brokers, Towergate, warned: "Despite an encouraging fall in empty homes over the past decade, our capital still has a high number of homes left vacant for most of the year.  This remains a concern in face of ever rising house prices and a continuing squeeze on supply preventing many getting on the property ladder.

There are many reasons a property may be left unoccupied for long periods of time for example renovation works, overseas owners, inheritance or a gap between tenancies. Whatever the reason, it is critical homeowners are aware that homes left empty for an extended period of time can leave them exposed to a number of risks and threats – including burglary, theft, vandalism and water damage.

If your property is going to be left vacant for a longer period, it's crucial you check your insurance policy and contact your insurer to get specialist cover in place – standard policies are often only valid for up to a month."

Top tips when leaving a property unoccupied:

1. Make sure your home is regularly inspected - perhaps ask family, friends or neighbours to check it
2. Ensure the property is secured at all entry points using sufficient locks.
3. Make the property look occupied to minimise interest by thieves or vandals. Cancel existing deliveries such as milk or newspapers and have any post collected as this is also a fire risk
4. Consider having lights on timers so they come on in the evening and perhaps park a car on the drive - maybe a friend's or a neighbour's.
5. Speak to a specialist property insurer who can source you a policy designed for properties left unoccupied for longer periods of time

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