London's empty luxury homes become election issue

London

PETER Rees' attempts to form a residents association after moving into the City of London's Heron apartment tower were hampered by one major obstacle: he couldn't find many of his neighbours.

"We discovered just how difficult it was to trace owners who hadn't been near their flats," said Mr Rees, the former City of London planning officer who owns an apartment in the 284-home tower that was completed in September 2013. "They were either unknown or uncontactable." The phenomenon known as buy-to-leave, with some investors not even bothering to pick up keys to properties, is now becoming an issue in the May 7 national election as more than 460,000 UK homes lie vacant. Tessa Jowell, a former Labour lawmaker and bookmaker's favourite to replace Conservative Mayor Boris Johnson when he steps down in 2016, is making penalties for leaving homes empty a principal part of her campaign.