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North-South Negative Equity Divide 'widening'

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http://www.guardian.co.uk/money/2013/jun/20/negative-equity-north-south-divide

One in seven mortgage holders in north-west England are in negative equity, while in the south-east it is fewer than one in 100, according to a new report.

Ratings agency Standard & Poor's, which issued the research, also claimed that the north/south negative equity divide "is getting wider".

The report estimates that for the UK as a whole, the proportion of people trapped in properties worth less than their mortgages fell to 4.9% in the first three months of this year, from 5.6% at the end of 2011.

However, the fortunes of the housing markets of the north and south are very different. The report shows that the proportion of borrowers in the southern regions who were in negative equity fell from 3.3% to 1.5% over the same period, with London and the south-east "leading the way" at 0.9%. By contrast, the figure for the northern regions as a whole edged up to 8.7% from 8.5% last time.

It would be interesting to see what the original LTV of these mortgages where and how many went for NR together mortgages.

Still when Ozzy gets the mortgage market moving again we'll all be rich once more.

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Thanks, as I'm in the NW, I will use that info

Did you see other article link on page

(I hesitate to post thread as you've usually beaten me to it ;) )

High house prices damage businesses and the economy

http://www.guardian.co.uk/housing-network/2013/jun/20/high-house-prices-damage-businesses-economy

Edited by Saving For a Space Ship

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It would be interesting to see how they determined the value of the houses.

This^

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I have a friend who moved from Hants up to a cheap part of the NW around 2005, buying a massive house needing lots of work.

For a while it looked like a good move, prices were rising and he reckoned his £600k had become £1m.

Of course, he hadn't factored in the crash and that it is hard to justify average prices of £200K when average incomes are under £20k in his area.

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  • 277 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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