Research by House Buyer Bureau indicates that over 300,000 homes in England have been empty for at least six months. These 303,185 long-term vacant properties are estimated to have a combined value of £88.6 billion.
The total number of vacant homes identified across England is 754,264, meaning that 40.2% of these fall into the long-term vacant category.
London holds the highest estimated value of empty property, with 47,287 homes vacant for more than six months, valued at almost £25.8 billion. The South East follows with 42,099 long-term vacant properties worth an estimated £16.1 billion.
Chris Hodgkinson, managing director of House Buyer Bureau, noted that while building more homes is essential, making better use of existing housing stock is also important. He suggested that getting a proportion of these long-term vacant properties back into circulation could provide additional homes.