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House repossessions fall, whilst sales rise

House repossessions fall, whilst sales rise

Category: Mortgages

Updated: 28/02/2013
First Published: 28/02/2013

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Figures released by the Land Registry have revealed an 11% annual fall in the number of homes repossessed in November last year, down from 1,777 in 2011 to 1,589.

The majority of homes claimed back by mortgage lenders occurred in the North West of England where a total of 347 homes were repossessed compared with 44 in the North East.

Property sales increased on a monthly basis from 60,369 to 61,091, with a typical home in England and Wales fetching £162,441 in January this year, a 1% increase compared with the same month in 2011.

London, unsurprisingly, remained the most expensive region in the country with the average home valued at £373,207 last month. This reflected a 7.1% increase from the year before.

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