A new scheme designed to help kick-start interest in empty homes across Arun has been set up by the Council.

With the housing market suffering amidst the global financial crisis, the new scheme is hoping to stimulate the local market by bringing interested buyers and willing sellers together more quickly via a special database.

Known as the 'Investors in Arun' scheme, the database contains the details of individuals and companies who are interested in purchasing empty properties as refurbishment projects.

These details are then passed on to owners of empty properties who are looking to sell, in the hope that deals can be struck and additional activity generated in the local housing market.

Many empty properties require refurbishment to bring them up to the 'Decent Homes' standard and offer an inviting investment opportunity for individuals and companies that have access to funds. The Council had a very positive response from local builders and small-scale developers when it proposed the idea of setting up the database and is hopeful that more homes will be bought and sold in Arun as a result.

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Councillor Robin Brown, Cabinet Member for Housing and Community Care, said: "We are committed to playing our full part in the national campaign to tackle the issue of long-term empty homes and believe that this scheme can help spark some activity at this difficult financial time.

"Despite the credit crunch, there are still investors with cash who are interested in buying properties, provided they are realistically priced, for refurbishment with a view to selling or letting. What we are trying to do is to work together with owners of empty properties to put them in touch with these interested parties and help both sides to achieve their aims.

"What we are certainly not trying to do is set up in competition with the local agents. We are actually looking to work more closely with them to generate additional activity in the current market and obviously there is no charge for the advisory services and help that the Council provides to empty property owners.

"Clearly this initiative is not a panacea for all the problems of the property market in this area, but it is a very positive step towards revitalising a sector of the residential market which is not directly dependant upon the normal 'high-deposit-maximum-mortgage' finance arrangements and will contribute towards bringing more empty properties back into use."

(CD/JM)