Could an Abandoned House Nearby Impact Your Home’s Value?
Estimated reading time 6 minutes
Given the statistics below the answer to this question is likely to be yes. Gaffsy is keen to help address this by finding the true owners, refurbishing the property and putting these abandoned properties back into use. They hope to provide further family housing, add value to the area and get rid of a community eyesore.
If you know of an empty or derelict home in your street or neighbourhood, send an email to Gaffsy with a photo of the property and its full address. If Gaffsy is successful in purchasing the property and selling it a cash reward will be sent to the initial reporter.
How do you spot an abandoned house?
- Look for broken or boarded up windows, and an overgrown front garden.
- Abandoned properties are equally spread through London regardless of the value of the area, so keep your eye open wherever you are — an abandoned property in an expensive area might mean a better payout for you.
- Gaffsy is mainly interested in homes but they do also accept reports for MOT garage style space and empty plots of land.
- Please don’t try and enter a property yourself. Not all buildings that look uninhabited are actually empty.
How are abandoned or derelict homes bringing down the value of your property?
The longer a property lies empty, the greater the risk of further devastating dilapidation, The longer a house remains empty the faster it’s deterioration and the increased target for crime as an empty home runs the risk of attracting squatters, vandals, burglars and antisocial behaviour.
It can also create a health and safety risk, as blocked and or defective drainage can cause damage to neighbouring properties. If no one is removing litter and waste builds up it will run the risk of attracting vermin that could be detrimental to health.
Clear to see why your property on a street with a derelict house will be down valued vs a house in a neighbouring street without a derelict empty home.
Why might a house be left empty?
- Repossession if a lender cannot find a buyer then it will take time to dispose of the property.
- When extensive work is needed after natural disasters. Insurance negotiations can take time and whilst they are on-going a property will be left empty. If there was no insurance the property is likely to stay in disrepair for a substantially longer period of time whilst the owner tries to find a solution.
- Construction and materials maybe classified as unsafe and therefore the property sits empty until the necessary money is found to fix the problem or demolish the property.
- Estate disputes where a homeowner has died intestate and there are problems finding the dead persons relatives the property can lie empty for a long time.
- Legal issues surrounding structural and or subsidence problems when there are adjoining properties. As there maybe a dispute over who is responsible to correct the problem delaying a resolution to the problem.
- Vegetation, landlords do not regularly check the plants surrounding the property and some plants are known to cause extensive damage to drains and structures. The subsequent repairs may require tenants to relocated and the owner may need to wait until funds are available to carry out the repairs.
- The long-term neglect is usually caused by poor maintenance when owners or landlords find they can no longer afford to look after their properties. The cost of living crisis, compounded by labour shortages, and a hike in the cost of building materials are all added obstacles to the property being done up.
Statistics and areas with the highest number of abandoned homes
Unfortunately, there are lots of properties across the UK that stand empty and derelict. If you have one in your street and or there are numerous empty derelict properties across your neighbourhood it is probably bringing down the prices of homes in your area.
It’s not difficult to spot the empty home in a street. It usually looks neglected with peeling paintwork, overgrown garden and no-one coming and going. An easy target for people with bad intentions.
The scale of the problem is huge the Government Department for Levelling Up, Housing and Communities estimates that as of 04 October 2021 there were 653,000 vacant. Of those 238,306 homes in England are classed as long-term empty homes. This means that they have been left vacant for more than six months.
According to Action on Empty homes analysis of government council tax data over 30,000 homes lie long-term empty in London. One in 12 homes in Camden is vacant, one in 16 in Tower Hamlets. In North London, one in 50 homes were left in Enfield compared to one in 33 in Barnet while one in every 38 homes in Merton, south-west London, are vacant. The areas with the most empty homes were Southwark (2,705) and Newham (2,246).
Outside of London it is a similar picture, Manchester has 1,455 while Birmingham 5,386 long-term empty homes. Areas in the North, where there has been under investment also see high numbers of longterm empty homes Bradford now has a staggering 4,091 long- term empty homes (nearly 1 in every 50), while Hartlepool has over 1,000. Middlesborough has over 1,500 long-term empty homes; and Grimsby and North East Lincolnshire have 1,636 long-term empty homes (1 in every 45 homes).
What can you do?
Email Gaffsy with a photo of the property and the full address. Their expert researchers will try to make contact with the owner with the intention to purchase the property. We buy any house so don’t be put off it looks beyond repair
We will keep you updated as the investigations nto tracking down the owner progresses and when negotiations are entered. If Gaffsy is successful in buying and selling the property you reported you will receive a cash reward.
We may not always be successful in locating the owner or agreeing a purchase because it is not always possible to buy these abandoned properties. Our aim is to put these abandoned properties back into use, regenerate the accommodation, add value to the area and provide further family housing. As a cash house buyer we have the ability and the funds to make empty properties homes again.