Latest figures on Repossessions
The number of repossession in London has risen from 1,854 in 2001
to 6,661 in 2005. There are many situations that have to be factored when
trying to work out why the figures have increased so rapidly.
The expected factors of relationship breakdowns, sickness and job losses
must be allowed for. However the problem has been made worse by the
rapid increase in house prices, compared with the increase in salaries over the
same period. Properties cost on average £220,000 in 2001, with
average last year almost £300,000, with the increase in salaries falling
behind.
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