Property repossessions soar

The number of families suffering the misery of mortgage repossession and the threat of homelessness has risen sharply.

Figures published today by the Council of Mortgage Lenders (CML) reveal homes taken into possession by mortgage lenders shot up from around 10,300 in 2005 to 17,000 in 2006.

The CML said the rise was partly due to the financial impact of reaching the end of fixed-rate mortage deals, but mostly because of the growth in lending to people with poor credit records, where arrears and possession rates are higher.


More from this story here >>>

Will your home sell in 2007?

Making predictions can be a dangerous game and if there's one topic that divides opinion it is the property market.

Last year, many of Britain's housing market experts called only modest increases for 2006, of between 1% and 4%. But it wasn't long before the London-led property revised forecasts.

Similarly, armchair pundits who had suggested doom and gloom were left stranded by reports that prices were rising rapidly. The general consensus among the major house price reports was that prices ended up rising by an average of around 9% in 2006.

But what will happen in 2007 and will your home sell?

This is Money has rounded up the main forecasts and run the rule over them.

Click here to find out more >>>

Land Registry: House price growth calms in November

House prices "continued to rise steadily" going up 0.6 per cent in November, official government figures reveal.

Data from the Land Registry out today finds the average property in England and Wales cost £172,006 in November, going up 6.8 per cent in the 12 months since November 2005.

"After robust growth in September and October, the November monthly growth rate reflects a calmer market," the Land Registry states. "However, the growth rate remains firmly positive. The November monthly growth rate of 0.6 per cent is approximately twice the size of the average monthly growth in 2005."

More from this story >>>