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| Empty shop rate rises across Britain as spending drops | Empty shop rate rises across Britain as spending drops |
| (about 1 hour later) | |
| The proportion of shops lying empty has increased in every region in Britain bar London between January and June, according to figures compiled by the Local Data Company (LDC). | The proportion of shops lying empty has increased in every region in Britain bar London between January and June, according to figures compiled by the Local Data Company (LDC). |
| An average of 14.6% of shops now remain empty across Britain, according to LDC. | An average of 14.6% of shops now remain empty across Britain, according to LDC. |
| LDC says a dramatic drop in consumer spending, which it calculates is now back at 2002 levels, is partly to blame for the high vacancy rate. | LDC says a dramatic drop in consumer spending, which it calculates is now back at 2002 levels, is partly to blame for the high vacancy rate. |
| Higher online sales and retail space expansion are also factors, says LDC. | Higher online sales and retail space expansion are also factors, says LDC. |
| However, one group criticised the methodology of the survey, saying the boundaries used by LDC to define a town centre had not been updated since 2004. | |
| The Association of Town Centre Management called the data "fatally flawed". | The Association of Town Centre Management called the data "fatally flawed". |
| "They use an out-of-date set of criteria for establishing town centre boundaries and, as a result, they don't reflect the reality on the ground," said Martin Blackwell, chief executive of the ATCM. | "They use an out-of-date set of criteria for establishing town centre boundaries and, as a result, they don't reflect the reality on the ground," said Martin Blackwell, chief executive of the ATCM. |
| 'Inexorable and irreversible decline' | 'Inexorable and irreversible decline' |
| The North West of England was the worst performing region overall, with a 20.1% vacancy rate, according to LDC. | The North West of England was the worst performing region overall, with a 20.1% vacancy rate, according to LDC. |
| London, which saw the proportion of vacant shops fall to 10.1% in the first half of the year from 10.7% in the last six months of 2011, was the only region to report a drop in the number of empty shops. | London, which saw the proportion of vacant shops fall to 10.1% in the first half of the year from 10.7% in the last six months of 2011, was the only region to report a drop in the number of empty shops. |
| LDC, whose findings are based on visits to 145,000 shops between January and June this year, found retail parks had the lowest overall vacancy rate, at just 8.1%. | LDC, whose findings are based on visits to 145,000 shops between January and June this year, found retail parks had the lowest overall vacancy rate, at just 8.1%. |
| LDC director Matthew Hopkinson added that there was "some way to go" before there was likely to be positive change in the proportion of empty shops. | LDC director Matthew Hopkinson added that there was "some way to go" before there was likely to be positive change in the proportion of empty shops. |
| "Fundamental national economic issues are being played out at a local level," added Mr Hopkinson. | "Fundamental national economic issues are being played out at a local level," added Mr Hopkinson. |
| Liz Peace, chief executive of the British Property Federation, said the survey indicated the need for a rethink on the redevelopment of vacant property. | Liz Peace, chief executive of the British Property Federation, said the survey indicated the need for a rethink on the redevelopment of vacant property. |
| Ms Peace said this would require the property industry, including investors, to accept new lower value options for properties. | Ms Peace said this would require the property industry, including investors, to accept new lower value options for properties. |
| "The alternative is a period of steady, inexorable and irreversible decline," she warned. | "The alternative is a period of steady, inexorable and irreversible decline," she warned. |