Repossessions and Rent Arrears Low

Repossessions and Rent Arrears Low.

Figures released by the Council of Mortgage Lenders this week combining data from all the leading mortgage companies reveal that home repossessions are at their lowest levels since the start of the credit crunch.

In addition, reports are surfacing from major Estate Rental Market Agents, LSL property, that rent arrears are also down.

Comment

For property investors, this is a good sign as it means property investment, whether you main home, or for buy to let purposes, will appreciate more in value as the market stabilises and recovers.

For the Government, it too is a reflection on people taking more care of their money and indeed more people being employed and able to make mortgage and rental payments.

Property prices are increasing, but we do expect it to be a growth cycle for the next 2 years and then a property bubble to burst, as it did in the early 1990’s after the late 1980’s surge out of recovery.