Leeds property news: Buying cheaper than renting

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New figures reveal an empty home costs its owner £650 per month.

Cost and wasted opportunity are the twin themes of 2014’s Leeds Empties Week – which started on March 17.

Organised by Leeds Empties – a Leeds City Council backed social enterprise supporting the council with its empty property strategy – the week will look at how empty home owners could be £650 per month – £7,800 per year – better off if they bring their homes back into use.

Gill Coupland, Leeds Empties’ Empty homes doctor said: “Owning an empty home can be a real headache and it’s understandable that sometimes people do nothing. But there are so many reasons why an owner should act today – and one of them is that they’re throwing cash down the drain.

“Empty home owners are missing out on rental income, they’re often charged 150 per cent council tax, their insurance premiums rocket and their property’s far more at risk of burglary and vandalism. During Leeds Empties Week, we want to talk to as many empty home owners as possible and we’re urging them to contact us to find out how we can help.”

Leeds Empties Week will also look at the wasted financial opportunity this represents to Leeds’ businesses and services – and the city as a whole.

Empty homes doctors’ will be on hand throughout the week to support empty home-owners and a new top tips guide will be published to help owners think through the options available to them – before they sell or let. There are almost 7,000 privately-owned long term empty homes in Leeds - for more information contact www.leedsempties.org.uk.

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