Community ownership of vacant shops: can this save the High Street?

Take Back the High Street: Putting communities in charge of their own town centres – Power to Change Report 

Greater community ownership of high street properties could lead to many fewer empty shops, compared to ownership by private-sector interests such as real estate companies and overseas investors.

  • Shops owned by overseas investors are more than twice as likely to be vacant as shops owned by the public sector
  • Real estate companies own one in four of all empty shops, and overseas investors own one in five; whereas the public sector and social sector [2] own around one in ten each
  • Just 8% of units owned by the social sector are vacant, and 4.5% of those owned by the public sector – compared to 9.2% for real estate companies, 9.6% for overseas investors, 11.9% for institutions like pension funds, and 13% for investment management schemes

Unemployment lower than a year ago

Labour market overview, UK: September 2019 – ONS

 

  • The UK unemployment rate was estimated at 3.8%; this is lower than a year earlier (4.0%) and unchanged on the quarter.
  • The UK economic inactivity rate was estimated at 20.8%; this is lower than a year earlier (21.2%) and unchanged on the quarter.
  • The UK employment rate was estimated at 76.1%; this is the joint-highest on record since comparable records began in 1971, and higher than a year earlier (75.5%).