Andrew Wishart, Senior Property Economist at Capital Economics, pointed out that relatively light taxation on housing is partly to blame for hoarding behavior.

The UK government currently does not impose any ongoing property value tax to incentivize homeowners to sell or rent out vacant properties but rather impedes property transactions through stamp duty.

Wishart suggests that making hoarding behavior more costly through taxation might be an easier way to reduce housing vacancy problems than increasing housing construction rates.

Particularly in London, the issue of housing vacancy is more pronounced, with the vacancy rate reaching 8%, of which 91.6% are genuinely vacant homes and 8.4% are second homes.

As the financial center and international metropolis of the UK, London has attracted a significant number of capital investors and affluent homeowners. However, it also grapples with an imbalance between supply and demand, leading to many properties lying idle without being effectively utilized.

It is worth noting that the data from the Office for National Statistics is based on information from the 2021 census and may contain certain deviations due to behavioral changes during the pandemic.

However, the Office for National Statistics consciously asks people about where they "usually" reside to minimize potential inaccuracies when collecting data.

In addressing the issue of housing vacancy, the UK government needs to consider multiple factors comprehensively. Apart from adjusting the tax system, it could consider promoting more proactive housing policies to encourage homeowners to sell or rent out vacant properties and strengthen supervision of developers and capital investors.

Moreover, providing appropriate incentives, such as tax breaks or subsidies, to facilitate an increase in housing supply could be a viable approach.

Addressing the issue of housing vacancy requires cooperation and joint efforts between the government, developers, and homeowners to ensure that housing resources are utilized more effectively, meet people's residential needs, and promote social stability and prosperity.