Empty houses 'provide answer' to buyer problems
Letting Agents - 12/07/2006 10:58:07
Letting agents are being urged by local councils to promote empty properties as the answer for young families looking to go into the first property.
Britain's rising property prices have made home purchase increasingly difficult for first-time buyers. With the average house now costing over £200,000, according to industry surveys, lower-income families are being urged to look for viable alternatives to overstretching themselves.
Councillors in north Wales reckon that hundreds of seemingly-dilapidated buildings could provide the answer and they are urging owners to look to the commercial potential of the stock in their possession.
"We want to help them turn their properties into an asset and at the same time create affordable homes for local families," an Anglesey county council spokesman told the local Daily Post.
The council is appealing as much to owners' self-interest as their sense of social goodwill, arguing that there is a steady stream of income around for those who are ready to take up the opportunity.
It is estimated that at present, the owners of derelict housing in the area are losing up to £6,500 every year - including almost £5,000 in lost rent on each property.
According to rental expert Paragon Mortgages, the typical UK landlord earned gross rental income of just over £849 in May, making for a rise of 0.8 per cent on the previous month.
Families looking to find a new place to live could contact the letting agents in their local area.