UK Says 5.5% of Housing Is Vacant, Suggesting Property Hoarded
- Census data highlights concerns about housing affordability
- Tax system a factor allowing people to hold unoccupied homes
Residential property in Harlow, UK.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
The UK said at least 1.5 million homes in England and Wales are “truly vacant,” raising questions about how property is taxed at a moment that the nation struggles with a housing shortage.
The figures based on 2021 census data indicate that about 5.49% of homes in England and Wales are standing idle, the Office for National Statistics said Friday. That’s about eight times the number of 172,800 properties classed as second homes.