FTBs boosted by reduction in empty homes

First time buyers (FTBs) have been given a boost with the news that the number of empty homes in England fell between 2003 and 2006.

According to research by Halifax and the Department for Communities and Local Government, the number of vacant properties fell by six per cent in that time.

It is welcome news for FTBs, many of whom are struggling with rising house prices and a shortage of properties.

Commenting on the figures, which have been published at the start of the Empty Homes National Week of Action, Martin Ellis from Halifax said that some regions are affected more than others.

"It is encouraging that the number of empty homes in England has fallen by nearly 20,000 over the past three years, but it is also notable that the problem has become worse in many areas with the highest number of empty homes," said the bank's chief economist.

"Rising property prices encourage the rejuvenation of empty homes in many parts of England. However, it is clear that intervention is also necessary," he continued.

FTBs received some good news last week, when Nationwide revealed that house prices fell by 0.8 per cent between October and November.

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