23 Nov

Buyers may welcome empty property figures

Buyers may welcome empty property figures

People looking to climb on the property ladder may welcome news that the number of properties that have been empty for more than six months rose to exceed 300,000 in 2008.

This represented the first time that this threshold has been breached in five years, according to figures from Halifax.

In a statement, the financial services provider noted that there is something of a north-south divide when it comes to properties that have been empty for an extended period of time.

The north-west had 66,691 structures that have been vacant for more than six months, which accounts for just under a quarter (22 per cent) of empty homes across England.

Meanwhile, 1.1 per cent of properties in London, the south-west and the south-east have been unoccupied for this period of time.

The most recent Halifax House Price index indicates that the average price of a property in October was £165,528.ADNFCR-1222-ID-19472596-ADNFCR

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