Liberal Democrat leader, Vince Clark, has expressed his concerns over the number of vacant properties around the country and pledges to do more to encourage local authorities to implement empty dwelling management orders (EDMO) to help rectify the growing problems of homelessness.
A recent report in the Telegraph has shown that there are around 11,000 properties in the UK which have been left vacant for more than ten years. In addition, there are around 60,000 properties which have been left empty for two years or longer, and more than 200,000 that have been vacant for at least six months. Property buying companies figures which have apparently doubled over the past 20 years and could well rise over the coming months and years.
Depressed Housing Market
This makes depressing reading for anyone who lives in an area with a depressed housing market but needs a fast house sale. Buying Property fast analysis there are many different regions across the UK that are experiencing slow moving property due to various factors, particularly areas in the North East such as Peterlee.
Decreased wages, zero-hour contracts, low rising house prices and high unemployment are all amongst the factors contributing towards the problem. Approved property buyers resulting in more and more homeowners having to leave their property empty because they are unable to sell their house within a certain time frame.
Even more worrying for those who are faced with the prospect of having to leave their property empty, is the move to give local councils the powers to take over properties which have been left empty for more than six months to help alleviate the housing crisis.
Few Local Authorities Currently Use EDMOs
EDMOs are currently used very rarely with just one in 13 local authorities putting the order into practice but Liberal Democrat leader, Vince Cable, is keen to push the Government into encouraging local authorities to use this act more to provide much needed social housing for vulnerable people and the homeless.
While the move may help local authorities address their housing problems, it could leave the owners of the property seriously out of pocket. Sell my house today If you are the owner of a home that has been left empty for a considerable amount of time, there is a danger of wiping tens of thousands of pounds off the value of the property. Vacant houses and flats are prone to rapid deterioration as well as being easy targets for vandals and squatters.
According to Government figures, Durham currently sits top of the table with the number of vacant properties according to the Telegraph report, with more than 6,500 homes that have been empty for at least six months, many of which will be in the Peterlee area.
Houses Can Be Sold Fast for Cash
However, all is not lost for those who may find themselves in this predicament. There are ways that you can sell your house for cash and eliminate the worry of your property remaining vacant for months or even years. Companies that buy houses fast and buy property for cash can help to solve the issue of relying on a slow-moving property market in areas with depressed house sales.
Companies such as buyingpropertyfast.com will allow homeowners the chance to sell their house fast. This will allow them to move on with their lives and relinquish the equity in their homes, Need to sell my house fast rather than chance the uncertainty of their local property market and potentially losing many thousands of pounds from the value of their home and having to deal with the many months or years of stress involved with having a property sat empty.