Repossessions on their way up again.

[Protagoras]

Just checked the local position.
Some houses unsold for 6 months, many one month plus.
Seeing price reductions advertised and properties re-listed.
Still a shortage of houses that don't need some level of updating.
New build flats taking ages to sell too.

[northernladuk]

that's alright we have had 7.5+ million new people turn up since then.

https://www.migrationwatchuk.org/new...llion-increase

we have built 100-200,000 dwellings a year since then so we are about 5 million short. A dog kennel sells for £200k round here.

https://www.statista.com/statistics/...-dwellings-uk/

This. Houses aren't as much round here but they sell bloody fast. Every sold house has a 'Sold within a week' on it. Saying it took a week to sell is almost becoming a badge of shame. It will be Sold next day soon.

[SueEllen]

Houses aren't moving since September.

Though it's not Truss's fault it is the leftie OBR and those leftie markets faults.

[vetran]

In the 90s crash I knew a couple of people who walked away from their houses which were in tulipty areas. The houses hadn't been sold by 2000.

that's alright we have had 7.5+ million new people turn up since then.

https://www.migrationwatchuk.org/new...llion-increase

we have built 100-200,000 dwellings a year since then so we are about 5 million short. A dog kennel sells for £200k round here.

https://www.statista.com/statistics/...-dwellings-uk/

[AtW]

Had me scared there for a moment, but that's house repossessions, luxury flats over kebab shops are ok...

[SueEllen]

They will be able to sell them, but probably have to accept a lower price.

In the 90s crash I knew a couple of people who walked away from their houses which were in tulipty areas. The houses hadn't been sold by 2000.

[Protagoras]

If they take back too many properties they won't be able to sell them.

They will be able to sell them, but probably have to accept a lower price.

[northernladuk]

If they take back too many properties they won't be able to sell them.

I can't belive that for one minute.. or did i miss a sarcasm smilie?

[SueEllen]

If they take back too many properties they won't be able to sell them.

[vetran]

https://www.thisismoney.co.uk/money/...U4NzU0LjAuMC4w

House repossessions more than double over a year, official figures show, as banks take back properties due to missed mortgage payments

• Repossessions by county courts increased 134% at the end of 2022
• Inflation and higher mortgage rates have put pressure on household budgets
• However, repossessions remain below levels seen before the pandemic

considering they had a ban on it during Covid I expected it quicker than that.