The government is setting up a fund to bring empty properties back into use. The idea is the breathe new life into the country's abandoned streets by renovating clusters of empty homes that can often attract anti-social behaviour, fly-tipping and vandalism.
Since the introduction of the new homes bonus in 2009 the number of long term empty homes has been reduced by nearly 38,000. This new initiative is aimed at groups of homes that have good market prospects such as access to transport links but require extensive refurbishment to return them to a liveable standard. Councils who wish to apply will match the funding they receive and the governmentt has earmarked £50 million so the total spend could be as high as £100 million. The scheme aims to help with projects where at least 100 homes can be brought back into use. Clients with unoccupied property may find that houses near their own properties are brought into the scheme.
Most people agree that there are far too many empty houses - some estimates Put the figure at nearly three quarters of a million. If this scheme can help to bring clusters of empty homes back into use it could make quite a difference to housing waiting lists and improve neighbourhoods at the same time. If you are thinking of renovating an empty property please contact us about renovation insurance.