BOURNEMOUTH has the second highest number of vacant homes outside London at a cost of almost £3billion, research has found.
Looking at the number of vacant homes in Bournemouth (7,213) and comparing it to the average house price in the city (£414,624), the CIA Landlord study determined that the average cost of vacant homes is almost £3 billion.
The study suggests that Bournemouth has the second most expensive number of vacancies in the UK and the most outside London.
Due to London’s large size, there is a total of 87,731 vacant homes, making it the UK’s number one city for the most expensive number of vacant homes.
With property prices in London averaging around £1.49million, the cost of vacant homes in the capital is around £130.8billion.
The CIA Landlord Insurance study looked at the UK’s housing crisis and the growing number of empty houses, analyzing the impact living in vacant houses could have.
This is in response to the strong demand for properties in the UK as well as the exacerbation of property prices due to the number of vacant homes in the UK.
Read the study here: https://www.cia-landlords.co.uk/news/vacant-homes-and-their-impact-on-the-housing-market-crisis/