Terraced Houses to Account for 40 Cent of 2011 Repossessions

Mon, 04 Jul 2011

Terraced houses are going to account for 40% of all UK repossessions in 2011.

This is the prediction from the HML’s regional repossession forecast.

The research highlights that during 2011, there are going to be 33,258 repossessions, with the figure increasing to 40,000 in 2012.

The HML states that 40% of repossessed properties are going to white terraces, with 24% of repossessions forecast to be flats, 21% semi-detached houses and 15% detached houses.

It is anticipated that London is going to have a higher proportion of repossessions this year, at 0.34% of properties on mortgage, with Northern Ireland experiencing the worst rate at 0.83%.

The risk of repossession is predicted to be the lowest in the South-West, at 0.18%.

Higher arrears are certainly going to feed into higher repossession figures next year than this one.

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