07 December 2007
Investors who buy up homes and leave them empty are creating magnets for crime and antisocial behaviour, says a report.
While the buy-to-let market provides private rented accommodation and can supplement social housing, it can also lead to problems, the Northern Housing Consortium study concludes.
The report studies the buy-to-let and buy-to-leave markets in five northern towns and cities. In each case, property values have risen, with local people priced out of the market.
Three locations — Bolton, Burnley and Sunderland — reported many out-of-area and overseas investors who leave homes empty. 'Some homeowners felt they had been mis-sold properties when moving into areas dominated by empty homes or rented accommodation,' it says.
The study, Buy to let and buy to leave: sustaining or saturating the market?, was launched on December 3 at the consortium's crime and antisocial behaviour conference in Harrogate.
It points out that councils can use licensing schemes to ensure standards for private tenants, along with empty dwelling management orders that force landlords to let homes.
PFdec2007
