Member

Requiring properties to stand empty for 12 months is a punitive and unnecessary intervention in both the residential sales and rental markets. It also incurs a number of other risks, including crime, and will further contract the supply of properties in what is already a very undersupplied sector. Making the period six months would easily achieve the Government’s objective, as I hope I have demonstrated, and be less distortive and destructive of the residential lettings and sales markets. I look forward to the Minister’s response.