One in every 25 homes across England alone is labelled vacant, and in some Cities, this rise is increasing the risk of criminal activity against vacant properties in those areas.
With no occupants to report suspicious behaviour or maintenance issues, this can pose a large threat to those responsible for their management as supply shortages could lead to delays with property repairs.
Being a security provider ourselves to vacant properties, we share the top 10 UK Cities which have the costliest number of them, the reason behind the rise, and the impact it’s likely to be having on properties within those areas and across the UK.
The Top 10 UK Cities With The Costliest Number of Vacant Properties
As vacant property figures have increased over recent years, so has the capital. With certain Cities faced with a large number of high-value property left completely unoccupied.
From the most recent statistics found, the top 10 UK Cities with the costliest number of vacant properties (approximate cost in £) are as follows:
- London - £130,748,291,250
- Bournemouth - £2,990,686,158
- Manchester - £2,242,508,523
- Birmingham - £2,107,263,146
- Brighton & Hove - £1,666,902,200
- Bristol - £1,579,313,488
- Coventry - £1,533,863,863
- Leeds - £1,412,926,216
- Bradford - £1,391,558,217
- Reading - £1,157,284,365
For property managers and owners in these areas, figures like this can be alarming, as they suggest vacant properties are likely to be more lucrative for criminals.
What is the Reason for High Vacant Property Rates in the UK?
Contributing factors such as Brexit, the COVID-19 pandemic, rising living costs, and shift in the job market have all led to an increase in the number of vacant properties across the UK.
This change across the nation has impacted the lives of UK residents, and this has caused a knock-on effect to the personal circumstances for some vacant property owners. Due to this and in general, properties can be left vacant for various reasons including:
- Lack of funds to renovate the property
- Increase in overseas investments with ‘but-to-leave’ purposes
- Inheritance properties can be left vacant whilst decisions are made on the outcome of them
- The property may be up for sale or rent
- Owners have a personal attachment to the property, and therefore do not wish to sell
- Legal reasons could postpone the selling or outcome of a property, leaving it vacant
- Risks of rent arrears, high repair costs, and lack of tax incentives lead to some landlords choosing to leave properties empty
As the UK economy and state of the country continue to change, the likelihood that the world of vacant property will increase with this is high, increasing the risk further for those Cities where the costliest of vacant properties are at inflated levels already.
Vacant Property Security Risks
There are various security risks associated with vacant properties and these are as follows:
- Theft
- Vandalism
- Squatting
- Fire risks and arson
- Environmental damage
- Anti-social behaviour
- Trespassing
Unfortunately, vacant properties lay as open targets for criminals and can create costly consequences for any individuals responsible for them.
However, as much as vacant property crime is an ever-growing concern across the UK, the consequences of it can go much deeper than the heavy financial implications that can be caused by it.
The Consequences of Vacant Property Crime
Most property managers and owners will be aware of the expenses that can occur when vacant property crime takes place, especially with the growing threat of copper and cable theft.
However, the consequences do not stop there.
Those responsible for vacant properties are also responsible for the safety of any individuals who enter the property’s perimeter, including any intruders. Therefore, if an injury occurs or even worse, death, you could be held liable for this, causing even greater financial implications for you.
But there’s one other risk to consider: the impact vacant property crime can have on the property’s value.
A 1% increase in the neighbourhood crime rate is associated with a 0.7% reduction in property prices and with vacant property often driving more crime to an area, your property and those nearby could depreciate in value.
This impacts both commercial and residential properties, creating difficulties to sell, rent or lease the property. Multiple incidents can lead to an even greater drop in value and the longer a property is left vacant for, the higher the chance of it facing crime.
How to Protect Your Property’s Value
So, how can you protect yourself against property devaluation on your vacant property?
Although, implementing vacant property insurance and other financial protection techniques help to protect you from the heavy costs that can be created from such crime, it does not help to prevent it.
There are many preventative methods that can be implemented to help protect against vacant property crime, and in turn the devaluation of your property:
CCTV Cameras
Generally considered to be the best all-rounded approach to vacant property security, installing CCTV cameras can help to monitor, record, and prevent crime all within one service.
Although the best security measures for your property will vary, it is recommended that most vacant properties, especially commercial buildings, have CCTV in place.
However, as much as internal cameras are beneficial, the majority of crime begins on the outside of the property and this is the best place to have preventative measures in place.
Any intruder will need to gain access onto the property grounds, so by implementing CCTV cameras around the perimeter of the property, you have a greater chance of deterring crime.
Relying on criminal deterrence alone is risky. Criminals will go to great lengths and even with the presence of cameras, some will simply ignore them completely.
For the best type of prevention, you require a proactive and reactive security approach.
This type of approach uses advanced camera technology backed by remote monitoring services to help detect, deter, and deal with crime presented to your vacant property.
With all of WCCTV’s products, specifically our CCTV towers, we ensure you receive this type of protection. Additional features of sirens and live voice-down audio allow those monitoring the live footage to take further steps to stop criminals from accessing your property’s perimeter.
Vacant Property Alarms
A vacant property alarm is a security system that monitors the property and can trigger an alarm when an intruder attempts to enter the property, notifying the Police in these instances.
They can be activated 24/7 to provide coverage day-to-night and aim to support against any property damage by contacting those relevant to the scene whilst the intruders are present.
Some can be fitted with video monitoring and sirens that enhance the security service provided to the property.
Routine Maintenance and Vacant Property Inspections
One of the biggest issues for vacant property is that the lack of occupancy means no individuals are there to regularly check the property for damage or maintenance issues.
This can lead to issues like this worsening and present a view to criminals in those areas that the property is unmonitored, making it an easier target for them.
Therefore, to both protect the property and its value, you should schedule in routine maintenance checks and inspections at your vacant property.
By doing this, you will help to upkeep your property’s condition and show to any individuals surveying the area that it is being monitored, reducing the appearance of it being an easy target.
Access Control
Access control can be used to reduce access to only those authorised to have it.
Property devaluation tends to happen when criminal activity takes place on the property or when it is damaged, and this is normally due to unauthorised access. Therefore, if you remove this, both issues are likely to be protected against successfully.
Types of access control that can be used with a vacant property include:
- Smart locks with remote access
- Keyless entry systems with PIN codes
- Lockboxes for key storage
- Perimeter fencing
- Door alarms
It is important to remember that the best access control system will be based on what is most suitable for your property, and not all vacant properties will benefit from the same system.
Protect Your Vacant Property At All Costs With WCCTV
Vacant properties are costly for cities, for owners, for managers, and for those with properties nearby, so it’s time to take control of the criminals and protect your property today.
Our full CCTV Tower range offers a fully-managed, temporary security solution without the need to skimp on the quality of service. Fitted with up to 4 IR PTZ cameras that provide zoom in capabilities and 360-degree view help to ensure the precise tracking of any intruders.
Backed with AI video analytics and remote monitoring services to boost your security to the next level, honing in on suspicious activity including loitering.
