Homes Left Empty

Thousands of new homes are being left empty deliberately in cities as investors cash in on rising house prices and a high level of building encouraged by the Government, a study has found.

At a time of acute shortage of affordable housing for first-time buyers, a significant number of homes, particularly flats in apartment blocks, are unoccupied.

Investors prefer to leave starter homes empty and make their money from the rise in the property market rather than letting them out to tenants who may damage kitchen and bathroom fittings and cause wear and tear that requires costly redecoration.