Empty properties occur for a variety of reasons. Some are empty for short periods whilst they are being sold or let and tend to come back into use relatively quickly. Others may be empty for significant periods of time and are not likely to come back into use until the underlying reason for the vacancy is addressed, for example, if ownership is unresolved or the property has been abandoned.
An empty property is considered a long-term empty if it has been vacant for 6 months or more. This allows adequate time for market forces to return an empty property into use without intervention from an external agency.
Long-term empty properties may exacerbate anti-social behaviour, accumulations of refuse and rodents and it may become a magnet for vandals and petty criminals. Houses that are left unoccupied can quickly fall into disrepair becoming a blight on the neighbourhood and reducing market values in an area. The saleability of surrounding properties can suffer. The Royal Institute of Chartered Surveyors state that up to 10% of a property's value can be lost if a neighbouring house has been empty for a long time.
Bringing empty properties back into use can benefit the individual owner, the occupier, businesses and the wider community. The general benefits of bringing an empty property back into use are:
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Older buildings brought up to modern standards, improving housing stock, existing buildings fully used
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Increasing the supply of housing available to people on the housing register, reducing the levels of unmet housing need, and providing greater choice and opportunity
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Reducing crime and disorder and the fear of crime through improvements to buildings and its impact on the environment
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Contributing to strong, balanced housing markets and community sustainability
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Properties cease to attract vermin and no longer create a public health hazard
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Property owners can benefit from a rental income and an improved sales potential, rather than allowing the property to be a wasted asset.
It is important to bring as many empty properties back into use, particularly in areas such as Surrey and Hampshire where there is such a high demand for all types of housing.