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Buyers 'put off' by vacant properties

Many Britons believe that a street featuring empty houses can discourage potential property buyers from moving to the area, a new survey has indicated.

Research from Halifax found that 25 per cent of UK people feel that the presence of an empty home has had a negative impact on a buyer's perception of their neighbourhood.

In addition, 22 per cent of those people who have lived near an unoccupied house claimed that it had caused the value of their property to fall, while 22 per cent said that it had made it more difficult to enjoy living on that street.

"One in four people continue to be directly affected by an empty house, which they believe has a negative impact on the value of property, their enjoyment of the area and levels of crime," said Jaedon Green, head of mortgage product development at Halifax.

"It is clear more direct action is needed in areas with high levels of empty homes, as these are often deprived areas," he added.

Earlier this month, the Empty Homes Agency stated that the number of vacant properties in the UK has experienced a "very gradual and slow decline" since the early 1990s. A personal loan can help with the home buying and selling process.

See how much you could borrow with a home loan from Lombard Direct.

© Adfero Ltd

11/12/2007 15:36:55

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