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Legally it's difficult to imagine that actually being enforced without huge objections. - Mark Pollack
Westminster Council’s Plan to Seize Vacant Homes Sparks Investor Backlash
In a recent article by The Telegraph it is reported Westminster Council is advocating for the government to amend regulations, allowing local authorities to seize long-term vacant properties after six months of inactivity, a reduction from the current two-year threshold.
This initiative aims to address the borough’s housing crisis by repurposing approximately 11,000 empty homes to accommodate homeless families.
Council leader Adam Hug emphasized the urgency, noting the council’s recent allocation of £140 million for temporary housing solutions.
However, property experts have expressed concerns regarding this approach.
Mark Pollack of Aston Chase remarked, “Legally it’s difficult to imagine that actually being enforced without huge objections. It would be a further attack on wealth and international investment in our cities.”
He further highlighted that, given the current challenges in the market, such measures might deter foreign investors and impact London’s real estate sector.
To read the full article go to Labour-run council plots to seize 11,000 empty homes.
