TV property presenter Lucy Alexander is backing calls to bring empty homes, including derelict properties, back into use, which would go a long way to alleviating the chronic housing shortage in this country, while in turn also increasing the supply of housing stock for estate and letting agents.
It is estimated that there are just over 1.5m properties sat abandoned and derelict across in England and Wales, and Alexander, as campaign ambassador for Hidden Gems – backed by property lender Together – wants to help shine a light on the issue.
This comes as analysis from property lender Together finds, as of 2023, the total of 1.55m residential homes are worth in the region of £531bn if renovated and reintroduced to the housing market. These homes are registered as completely ‘abandoned’ – with no usual or short-term residents in place, or use as a second home; without any clarity on plans for sale or redevelopment. Close to one in five empty homes (18%) have been vacant for at least six months, the study found.
The top three regions where the volume of empty properties is rising is led by the South West of England at 20%, the East of England at 16% and East Midlands at 15%. And, while Wales has seen the volume decrease by 13% in recent years; there are still over 90,000 abandoned properties across the country.
Indeed, 36% believe addressing the crisis of the UK’s abandoned and derelict homes should sit high up on the government’s Levelling Up agenda, second only to the cost of living.
With ministers set to launch a package of housing reforms, including a focus on new planning rules to allow the transformation of commercial buildings into housing, Together’s research highlights the scale of the problem – as well as the growing calls to push the issue to the top of the political agenda ahead of this year’s general election.
Alexander said: “Throughout my TV career, I’ve seen my fair share of once-loved-now-neglected properties; some of which can quickly become an eyesore for local residents.
“It’s a real shame especially as so many people struggle to find affordable housing options and get that first foot onto the property ladder to begin with. Spotting those property hidden gems can really help potential buyers and developers open the doors to a newfound building opportunity – be it for housing, the creation of a new business or restorative project. So many existing sites today could see their former glory restored and new purpose given if the right support can be put in place.”
Elliot Vure, corporate director at Together, added: “There’s a clear case for addressing and solving the UK’s abandoned and crumbling properties, as our research makes clear. Part of the solution could be turning old and disused buildings into much needed homes – although this is by no means a magic bullet. However, it should be a matter of civic pride that we don’t have these towering eyesores as a feature of our towns and cities.
“Although many are way past their best, buildings such these can offer a huge amount of potential for investors and developers with a vision to restore them back to their former glory or repurpose them. There also needs to be greater incentives to encourage homebuyers and investors to make the most of the 1.55million empty homes across England and Wales.
“In both cases, we need a joined up and pragmatic approach from the property industry and Government allowing us to reap the rewards of wider economic benefits, while preserving our architectural heritage and creating places for people to live.”
