2500 vacant properties in Newport following a local investment boom

Property prices are rising in Newport, thanks to a flurry of investments. Many of the acquired homes are vacant, and as rents increase in line with prices, owners could find it difficult to find tenants.

Rumours that the Severn crossings tolls will be scrapped next year have sparked new interest in the South Wales area, and a number of investors have bought properties there.

Because of the demand for homes, property prices are (slowly) on the rise – Newport has seen an increase of 2.16% in the last 6 months.

Empty investment properties

According to insurance statistics there are 26,000 vacant properties in Wales, and 2,500 of them are in Newport.

As rents rise in line with house price increases, many potential renters will be priced out to other areas, and these properties will stay vacant for longer as landlords struggle to find suitable tenants.

How can Property Guardian protection help?

Empty properties are at a higher risk of vandalism, squatting and maintenance issues which can be expensive and difficult to resolve. And because of these risks, property insurance is more expensive for vacant buildings.

To help you avoid the problems associated with vacant property, Camelot will place carefully vetted Property Guardians in temporary residence, so that

  • the property has protection from criminal damage.
  • maintenance needs are spotted and dealt with quickly.
  • empty property insurance costs aren’t required as the property is occupied.

Property Guardians are licensees rather than tenants, and need only 4 weeks’ notice to vacate, so the property can be handed back quickly when required.

How do Guardians and communities benefit?

For Property Guardians, the major benefit is reduced cost of living. The monthly fee is very low compared with market rents, anything between 40-60% cheaper than what they might pay as private tenants. For communities, there is a reduced risk of damage, theft and squatting in the local area.

Do you have a vacant property that needs securing? Email us to discuss your needs.

Interested in becoming a Property Guardian? Take a look at our available properties or email our recruitment team today.