More than 300,000 homes in England have remained empty for at least six months, representing an estimated market value of £88.6 billion, according to new data from the House Buyer Bureau.
The figures show there are 754,264 vacant homes across England, with 303,185 properties, or 40.2%, classified as long-term vacant. The scale of unused housing stock comes as the country continues to grapple with housing supply challenges and rising rental demand.
Regional distribution
London accounts for the highest value of long-term empty housing stock among English regions. The capital has 47,287 long-term vacant homes, representing 45% of London’s total 105,138 vacant properties.
With the average London home valued at £544,814, the capital’s long-term vacant housing stock is estimated to be worth £25.8 billion. In Kensington and Chelsea, 2,030 long-term vacant homes represent 59.7% of all vacant properties in the borough, whilst Westminster has 2,279 long-term vacant properties, equivalent to 61.2% of its vacant housing stock, with an estimated combined value of £1.91 billion.
Outside the capital, Birmingham has 7,060 homes that have remained vacant for more than six months, equating to approximately £1.64 billion based on the city’s average house price. The concentration of vacant properties in areas with high property values presents potential opportunities for investors, particularly as London auction activity continues.
Market implications
Chris Hodgkinson, managing director at House Buyer Bureau, noted the contrast between the focus on building new homes and the existing vacant stock. “It’s quite remarkable that we’re constantly talking about the need to build hundreds of thousands of additional homes when more than 300,000 existing properties have already been sitting empty for over six months,” he said.
Hodgkinson acknowledged that there is no single reason why properties remain vacant, and not every empty home can be returned to use immediately. “Building more homes remains absolutely essential, but we also need to make better use of the housing stock we already have,” he added.
The data highlights a significant volume of residential property sitting unused at a time when housing supply remains a critical issue across England, with implications for both policymakers and property market participants seeking to address housing availability.
