Number of empty homes on the rise in England
The number of properties that are empty in England has risen for the second consecutive year to more than 216,000, official figures show.
According to the Ministry of Housing, Communities and Local Government, in the 12 months to October, the amount of long-term empty properties, those that have been vacant for at least six months, increased by 3.5% to 216,186, the highest level since 2012.
Research by Project Etopia, specialists in modular home and school construction, show that empty homes on a long-term scale account for £53.6bn worth of property in England.
England’s coastal towns and cities account for the largest number of long-term empty properties. The northern town of Hartlepool is also home to a rising number of empty homes, as is Eastbourne in East Sussex.
The research shows that in London, the amount of long-term properties has also increased, rising by 11% to 22,481, accounting for £10.7bn worth of property.
Vacant property policies
With the number of long-term vacant properties on the rise across England, property owners need to have the right insurance in place to protect their homes when they are left empty, particularly for long periods.
Nelson Policies at Lloyd’s product is able to accommodate a broad range of unoccupied premises that are vacant due to renovation, pending let or awaiting sale.
We now offer full perils on residential vacant policies and have two options of Level 1 or Level 2 cover to give the insured the choice.
Our Level 1 cover, includes:
- Fire Lightening Earthquake Explosion and Aircraft (FLEEA) only
- Property Owners Liability (POL)
Our Level 2 cover includes:
- Full Perils plus POL
- FLEEA with Storm, Flood and Weight of Snow, Escape of Water, Escape of Oil, Theft or Attempted Theft, Collision, Malicious Damage, Subsidence, Falling Trees.
- Buildings and Contents cover available
- Properties undergoing alteration or repairs
- Properties in Probate/to be let/for sale
- Pro rata return of premium upon cancellation
- Cover for anyone buying the property until the sale is complete or the insurance ends
- Damage to the property caused by the attendance of the emergency services (limited to £1,000 any one Period)
For more information on Nelson Policies at Lloyd’s vacant property policies, get in touch with the non-residential team of experts.Back to Blog
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