Over the past 10 years London has seen a major fall in the number of properties left empty for over half of the year, according to analysis of recent government figures by specialist insurance broker Towergate.
The findings show that between 2006 and 2016, the number of properties in the capital left unoccupied for at least six months has fallen by 51%.
However, despite the long-term trend, Harrow saw the number of empty properties rise from 97 in 2015 to 651 in 2016 – a 554% increase.
More detailed analysis of the breakdown of the figures by London boroughs has revealed that Lewisham, Harrow, Kensington and Chelsea, Haringey and Camden were the only boroughs which have seen the number of empty properties increase since 2006.
Jo Thoy from Towergate said: “Despite an encouraging fall in empty homes over the past decade, our capital still has a high number of homes left vacant for most of the year. This remains a concern in face of ever rising house prices and a continuing squeeze on supply preventing many getting on the property ladder.
“There are many reasons a property may be left unoccupied for long periods of time for example renovation works, overseas owners, inheritance or a gap between tenancies. Whatever the reason, it is critical homeowners are aware that homes left empty for an extended period of time can leave them exposed to a number of risks and threats – including burglary, theft, vandalism and water damage.
“If your property is going to be left vacant for a longer period, it’s crucial you check your insurance policy and contact your insurer to get specialist cover in place – standard policies are often only valid for up to a month.”
