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Dec 09 2009

Home Repossessions


Quicklens Australia Contact Lenses

Following the Global Financial Crisis the numbers of home repossessions in each country has been rising.

To try to compare the actual numbers, I have located some newspaper reports as follows:

United Kingdom – about 787 home repossessions in the UK, per million population, during 2009.

12th Nov 2009
Repossessions rise by 3%

The expected number of homes to be repossessed in the UK for 2009 is about 48,000, the Council of Mortgage Lenders (CML) said today.

www.guardian.co.uk/money/2009/nov/12/repossessions-rise-again

That works out at about 787 home repossessions in the UK, per million population, during 2009.

Australia – about 460 home and business repossessions in Queensland, Australia, per million population, during 2009.

8th December 2009
Queensland housing defaults on rise as jobs lost

The latest Queensland court data reveals lenders had taken legal action to repossess the homes or businesses of 1,488 Queenslanders by the end of October this year

www.news.com.au/couriermail/story/0,23739,26460283-3102,00.html

That works out at about 460 home and business repossessions in Queensland, Australia, per million population, during 2009. (based on an expected total of  2,000 for the full 12 months)

Both countries will also have more owners who choose to sell up before a repossession order is taken out.



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