Empty properties dampen Leamington’s desirability

The desirability of houses and areas in Leamington are at risk of decline due to the prominence of void and empty properties in the area, warn Clemens Street estate agents Tara and Co.

Leamington has recently been bucking the national trend of dipping house prices, as shown in Tara and Co’s recent price tracker survey, which showed that house prices rose by an average of three per cent over the last 12 months.

However, an increase in void and empty properties could lead to Leamington postcodes falling back in line with dropping house values.

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Houses which are left empty, or which remain un-renovated, not only affect market prospects of individual properties, but have the knock-on effect of putting potential buyers and renters off choosing neighbouring houses and roads as well.

David French, property and marketing manager at Tara and Co estate agents, said: “While properties may remain void or empty for a number of reasons, the resulting drop in overall area desirability is a commonly seen effect.

“As well as affecting the overall look of a street, properties that are left empty can attract break-ins, which could lead to undeserved negative reputations.

“The latest Empty Homes statistics show that there are 1,350 empty properties in the Warwick area, with the vast majority (97 per cent) being privately owned. These properties are sometimes left neglected for months or even years on end, and can become hang-outs for squatters, as happened to the derelict Black Horse pub, until recent reports by owners that it will finally be renovated.

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Discussing how to avoid the risk posed by void and empty properties, Mr French added: “There are a number of measures that can prevent this becoming a problem. Landlords who let properties often do not have the opportunity to renovate them due to the ongoing cycle of 12-month contracts; the small timeframe between tenancies means full refurbishment becomes a real struggle.

“However, maintaining the standard of a property and refreshing it whenever possible not only contributes to the road overall, but will increase the appeal of that property to potential tenants.

“Furthermore, realistic pricing, both for those looking to sell and let, will considerably reduce the possibility of a property remaining on the market for a long period of time, and thus becoming stagnant.

“This considered approach reduces the risk of void and empty properties emerging, and will ensure the desirability of an area is maintained.”

For any further information on any of Tara and Co’s services or research contact David French on 01926 422077.

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