A report launched at the end of April claims that there are are an estimated 125,000 homes in London with no-one living in them and places the blame on "wealth investment", Airbnb and short-term lettings.
'Pretty Vacant' is the latest report issued by the campaigning group Action on Empty Homes. Its author, Chris Bailey, concludes that
- London housing policy is based on meaningless and inaccurate data. There is huge variation in numbers of recorded empty and second homes between similar, neighbouring London boroughs.
- Wealth investment leaves an estimated 125,000 homes in London without anyone living in them.
- Airbnb and short-term lettings are sucking tens of thousands of homes out of London’s residential supply.
- Tens of thousands of homes are under construction which are destined to deliver for investors without housing any Londoners.
Bailey says that the 500-plus high-rise towers with planning permission in London will not solve London’s housing crisis:
"Too many are destined to end up pretty vacant as unregulated Airbnb lets, second homes and buy to leave investments, while London councils spend over £700 million annually on insecure Temporary Accommodation for 57,000 families, including 80,000 children."
Campaign director Will McMahon is calling for government action:
"We need a robust register of residential property ownership and usage and effective regulation of second homes and short-term lets. Local authorities should be given planning powers and resources to ensure homes are built for residential use rather than as wealth investments."