A number of new developments of executive accommodation remain largely vacant, it has emerged.

David Ireland, chief executive of the Empty Homes Agency (EHA), asserts that there is poor take-up of some new communities of flats.

As a result, Britons could be missing out on the opportunity to develop equity in their property, which could then be used to obtain homeowner loans should the need for additional funds arise.

"What we're finding is that some of the new flats - and it is mainly flats - that are being built have got very, very high vacancy rates," Mr Ireland comments.

"If you look at some of the new developments in Leeds, for instance, the vacancy rates there are about 35-40 per cent."

Figures from the organisation show that in 2005 there were 680,000 homes in England standing empty, which the EHA terms "an affront" to people looking to get on to the housing ladder.

By attempting to purchase such a property, Britons could find their access to lending such as homeowner loans improved through the equity held in their new home.ADNFCR-1287-ID-18388484-ADNFCR

Request a Callback

Fill in your details and we'll call you back