UK Property Investments Since 2006
Contact us: +44 (0)20 3603 8903

London Borough of Barking & Dagenham is the property hotspot for repossessions

The North West has five locations in the top 10 for repossessions

The London bourgh of Barking and Dagenham tops the list for the repossession capital in the UK according to the latest figures released by Shelter, the homelessness charity.

Rank  Local authority Region Number of claims (2011/12) Rate of claims per 1,000 private homes
1 Barking and Dagenham London 415 8.44
2 Knowsley North West 325 7.2
3 Thurrock UA East of England 345 6.51
4 Lewisham London 490 6.46
5 Rossendale North West 165 6.46
6 Rochdale North West 435 6.41
7 Blackburn with Darwen UA North West 285 6.16
8 Burnley North West 210 6.11
9 Newham London 440 6.07
10 Luton UA East of England 385 6

Source: Shelter Repossession property hotspots

Out of the top ten areas for repossession, there are three boroughs in London and five locations in the North West of England, with a further eight in the top thirty, meaning a total of twelve locations in the top thirty for the North West.

The map drawn up by Shelter highlights the most vulnerable places in the UK for home repossessions and where homeowners are at the most risk of losing their homes. The charity found a link between areas where there is a high case of unemployment to those areas that experience higher repossessions.

How does this affect landlords and property investors?

What would also be interesting to know is what percentage of these figures accounts for buy to let landlords and investors as well? It isn’t just homeowners that fall into a spiral of debt and despair – landlords who haven’t done their sums or have mismanaged their finances are also prone to repossessions as we very well know at Aston Eaves by the number of portfolios we are offered from banks and receiverships.

 

Leave a Reply



Address

26 York Street, London, W1U 6PZ
+44 (0) 20 3603 8903
http://www.astoneaves.com
sales@astoneaves.com

Want to receive off-market deals & repossessions?