Half of Northern landlords hit by voids in last quarter
Thursday 12 April 2018
The North of England is the worst hit region for voids, with 53 per cent of landlords left with an empty property in the last three months, new data reveals.
According to the UK Association of Letting Agents (UKALA)'s findings, an average 35 per cent of UK landlords experienced a void over the same period, which has crept up slightly from 33 per cent from the previous quarter.
At the other end of the scale, 28 per cent of landlords in the South East experienced a void in the last quarter, the lowest of any UK region, while in nearby London 42 per cent of landlords had a void period.
The research also shows that while 63 per cent of voids were due to natural tenant changeover, other key reasons included vacating the property to carry out essential maintenance, limited demand in the area, and tenants leaving because they can no longer afford to pay rent.
UKALA director Richard Price said: “There are a number of reasons why landlords experience a void, but it’s important to know that agents are here to help and support them when it comes to re-letting property.
"Other than to carry out important maintenance and refurbishments, void periods can be minimised by finding reliable replacement tenants quickly; something that agents are best placed to assist with."
The regional breakdown:
- North East and North West: 53 per cent of landlords experience a void in the most recent three months; Yorkshire and Humberside: 48 per cent;
Outer London: 42 per cent;
Inner London: 41 per cent;
Wales: 40 per cent;
East of England: 39 per cent;
East Midlands: 38 per cent;
West Midlands: 35 per cent;
Scotland and South West England: 33 per cent
South East: 28 per cent.