Empty home numbers rise despite rental supply shortage
Landlords with buy to let insurance will be all too aware that a shortage of property to let is one of the key reasons why rents are currently at such high levels.
For some time now it has been clear that there are simply not enough rental properties to cater for the level of demand which currently exists.
So it may come as a surprise to some that the number of empty homes in England has increased over the last year, according to the latest research from Halifax.
The increase of just under 2 per cent during the past 12 months might not sound much but it now means that more than 662.000 homes currently lie empty across the country.
With so many prospective first-time buyers struggling to get their hands on a property it would seem like a sensible course of action to try to look at ways to help them purchase some of this unused stock.
Similarly, there are many buy-to-let landlords keen to expand their portfolio and there ought to be opportunities to purchase stock which they can put back into good use.
The figures revealed by the Halifax represent a huge number of properties simply lying idle while thousands struggle either to purchase or rent at a reasonable cost.
Perhaps these empty homes could be the answer to many problems.
Whether you are a landlord with one property or a string of homes to let, make sure they are covered by the right level of landlord insurance for your needs.