Unoccupied property insurance clients should be aware of a new scheme from the government to incentivise councils to increase the housing stock. From April 2011 the “New Home Bonus” will rewards councils by match funding the additional council tax raised when new homes are built or, crucially empty ones are brought back into use.
The charity “Empty Homes” welcomes the new scheme. Their chief executive David Ireland said: “ A home is a home whether it has just been built or brought back into use. Arbitrary rules have caused councils to get new homes built when perfectly good houses stand empty. The scheme means that councils will need to consider the potential of empty homes to provide new homes for people”.
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