Southwark has been identified as the London borough with the most unoccupied properties in 2023, revealing 5,143 vacant homes, according to data from SBA Property Management.
These unoccupied homes together are worth an impressive £2.77 billion, placing Southwark third in valuation across all London boroughs.
Despite this, Southwark boasts popular destinations such as Borough Market and the Tate Modern, as well as numerous dining and nightlife venues, all conveniently close to central London.
Other boroughs with high numbers of empty homes include Barnet, Camden, Croydon, and Newham.
In total, the empty houses in London could be valued at around £50 billion, with one-fourth of this value concentrated in the five aforementioned boroughs.
Habib Mogul, from SBA Property Management, conveyed that while vacant homes remain a challenge for London’s housing market, there has been a push to reintegrate these properties into the market which could stimulate the economy with a release of £50 billion in value from the city’s unused residences.
He further mentioned that local authorities are expected to have the ability to levy higher charges on homes that remain vacant for over a year, and other regulatory measures could also be introduced.
Mogul expressed eagerness to observe how these regulatory tweaks might motivate owners of properties that have been empty for extended periods to either sell or rent them, which could create opportunities for investors and property managers.
Barnet, straddling the line between central London life and the Hertfordshire countryside, benefits from developments like the Brent Cross Cricklewood regeneration, which is creating job opportunities and attracting more people and investors to the area.
In Camden, with property values at roughly £3.5 billion—second only to Kensington and Chelsea—its vibrant markets, music venues like KOKO, and Roundhouse, coupled with close proximity to Regent’s Park, make it one of the most sought-after and expensive boroughs to live in London.
The suburban borough of Croydon, ranking fourth for unoccupied homes, is known for its excellent transportation links—including four rail stations—and its lifestyle offerings featuring open spaces, shopping amenities, and food venues such as BOXPARK.
Newham, with its 3,812 vacant homes, has seen substantial investment since the 2012 Olympic Games. Its access to the Thames and a short commute to central London positions it as a convenient residential choice.
