More empty homes than holiday lets in UK local authorities: STAA Mortgage Finance Gazette

Img

Empty homes outnumber holiday lets in the majority of UK local authorities, according to research from Short Term Accommodation Association (STAA) and Key Data.

The analysis of 313 UK local authority areas showed 58% of them have more homes sitting vacant long term than holiday lets.

The worst affected is Arun Borough, which includes the popular seaside town of Bognor Regis with more than 400 long-term empty homes in this local authority, 6.7 times more than the 66 holiday lets in the area.

Meanwhile, Wales and Scotland the numbers of empty homes dwarf the size of the holiday let market.

Welsh councils such as Caerphilly and the valleys of Rhondda Cynon Taf have over five times more empty homes than holiday lets, while the Highlands in Scotland have 4.4 times as many.

The biggest difference in raw numbers was in Aberdeen, where there are 4,370 more empty homes than holiday lets — 4.6 times more.

STAA and Key Data said that these are thousands of properties that bring no value to the local community in Scotland’s third largest city.

Both parties explained that empty homes highlight the flaw at the centre of Britain’s housing market.

An Oxford Economics report found that in 2021, the short-term let sector brought in £27.7bn to GDP, and supported almost half a million jobs.

Despite this, new measures mean that holiday lets can be subject to similar tax premiums as long-term vacant homes.

There are 330,325 long-term empty homes in England, Scotland and Wales, according to latest official figures

STAA chief executive officer Andy Fenner says: “Holiday lets have been taking the blame for the housing crisis for a long time but this research reveals the true picture.”

“We all need somewhere to live and we all need somewhere to work. This research shows that holiday lets are not to blame for the housing crisis, but rather the blame lies with councils allowing homes to sit idle. Holiday lets create much-needed jobs in communities up and down the country, empty homes produce nothing.”

“Most councils are sitting on so many long-term empty homes that they eclipse the numbers of holiday lets in their area. This is where policymakers should be looking to solve the housing crisis, not scapegoating an industry responsible for jobs and investment in areas that often have nothing else.”

“This is rampant hypocrisy when councils across the UK are being encouraged to strangle this industry with council tax surcharges, planning requirements and licensing schemes.”

“Empty homes benefit no one, and can even have negative effects on neighbours and local communities when left unattended and in disrepair, while short-term lets are a vibrant part of our tourist industry, bringing in visitors from around the world.”

“The way people are being demonised for letting out their homes to families who want to enjoy a holiday in the UK is outrageous, especially while empty homes are barely talked about as a problem. The housing crisis is a complex issue, and it cannot be solved overnight, but making use of our existing housing stock would be a great place to start.”