Slight fall in the number of vacant homes in Scotlan
The total number of vacant homes in Scotland decreased by 0.6% in 2010, according to the latest annual Bank of Scotland Vacant Property Report.
- (1888PressRelease) December 24, 2011 - The total number of vacant homes in Scotland decreased by 0.6% in 2010, according to the latest annual Bank of Scotland Vacant Property Report. There were 105,649 vacant homes - an empty home or a second home, including both public and private properties - in Scotland in September 2010 compared with 106,239 in September 2009. Whilst the number of vacant homes is at its lowest since 2008 (103,433), it still accounts for 4.2% of all homes in Scotland.
Western Isles has the highest proportion of vacant homes in Scotland Western Isles has the highest proportion of vacant homes as a proportion of all privately owned
properties, at 13.3%; more than three times the average for Scotland (4.2%). Argyll and Bute has the second highest level of vacant homes (11.6%), followed by Orkney Islands (8.7%). All these areas have a significant number of second homes.
North Lanarkshire & East Renfrewshire have the lowest levels of vacant homes in Scotland North Lanarkshire has the smallest proportion of vacant homes (1.8%), followed by East Renfrewshire (1.9%) and Midlothian and East Dunbartonshire (both 2.0%). House prices are lower in areas with the highest proportions of vacant homes House prices are generally lower in areas that have a high proportion of vacant homes.
Property prices in the ten Scottish local authority districts (LADs) with the highest proportion of vacant homes are, on average, 3% (£3,944) below the average for Scotland. Inverclyde has the largest discount with houses trading at 22% (£30,151) below the average Scottish house price. Dundee has the next highest discount with prices 17% below the Scottish average. There are, however, exceptions. Three of the ten LADs with the highest proportion of vacant homes have an average house price that is above the average for Scotland with Perth & Kinross
recording the highest premium (21%) to the Scotland average.
Nitesh Patel, Bank of Scotland housing economist, commented: "Whilst it is encouraging that the number of vacant homes in Scotland has declined over the past year, it is still at a high level, particularly in the context of the country's ongoing housing shortage. Locally, the existence of vacant homes remains a particular problem in a number of areas where the proportion of empty homes is well above the average for Scotland as a whole."
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