London local authority Barking and Dagenham has the highest repossession risk in England, Shelter's new research reveals.
Shelter's Repossession Risk Hotspots show where homeowners face the highest risk of repossession across the country, based on the number of ‘possession claims’ issued in each local authority in England in 2011/12.
The results reveal distinct clusters of hotspots, with an almost unbroken band stretching over the north of England, from Merseyside in the north west to Humberside in the east.
Repossession risk varies widely across the country, with Barking and Dagenham more than twice as high as the national average, and almost eight times as high as that in west Dorset.
The top five hotspots are:
Local authority Region
Barking and Dagenham London
Knowsley North west
Thurrock East of England
Lewisham London
Rossendale North west
The research also shows a strong link between rising unemployment and repossession, with unemployment in hotspot areas rising at a much greater rate than areas with the lowest risk.
Campbell Robb, Shelter’s Chief Executive said: "Most people think that repossession will never happen to them, but rising unemployment, high living costs and even higher house prices mean that many people are living close to the edge already, and risk falling into a spiral of debt and repossession.
"The journey from being a homeowner to becoming homeless can be frighteningly swift, with just one small thing like a wage cut, a health problem or a job loss meaning that a family can no longer meet their mortgage payments.
"When repossession happens, the impact on families is devastating – research shows people think repossession is worse than having to fight a child custody battle.
"Housing is the largest monthly cost for many homeowners, yet the affordability of housing is not getting the same government attention as the monthly costs of other essentials such as food or energy bills."
(CD)
Time and date
CONSTRUCTION DIRECTORY
Latest Construction News
03/05/2024
Construction firm GRAHAM has started building work on a £19 million Community Diagnostic Centre (CDC) in Workington town centre. The Centre will be located next to Cumberland Council's government-funded Innovation Hub which is also under development in Central Way. GRAHAM is the principal ...
03/05/2024
Significant progress is being made on a new £2 million recycling centre in Haverhill. Construction works are being completed by FCC Environment and its contractor DXI Regeneration Ltd, on behalf of Suffolk County Council. The facility will be operated by FCC Environment, which manages all of ...
03/05/2024
Midlands contractor G F Tomlinson has started work on a new primary school in Dunstall Park Estate, Tamworth. The work is taking place on behalf of Staffordshire County Council alongside project managers and concept architects, Entrust. The project was procured through the Constructing West ...
03/05/2024
Galliford Try has made another step in its carbon reduction journey with the deployment of a new digital platform across its Infrastructure projects. The platform, Qflow, automates data capture and processing by extracting information from delivery and waste tickets, using Artificial Intelligence ...
03/05/2024
Underfloor heating is the most efficient method of heating a room and is fast becoming the most popular option for new building and property refurbishments. As a result, more trade professionals are being asked to install underfloor heating and self-builders and renovators are using it as their ...
03/05/2024
Farrans is making significant progress at Barsham Water Treatment Works in Suffolk, where its client Essex and Suffolk Water is investing more than £49 million in upgrades to the site. Due to be complete in 2025, the project will provide improvements to the resilience and quality of drinking ...
03/05/2024
Work has been completed on a new bridleway bridge at Lindsells Level Crossing in Biggleswade, Bedfordshire. Work started in December 2022 on the fully accessible bridleway bridge which allows pedestrians, horse riders, cyclists and other users to safely cross the railway line, providing better ...
03/05/2024
Ideal Work UK has unveiled Microtopping®, a revolutionary cementitious coating that delivers the sleek, sophisticated look of polished concrete with unparalleled versatility and ease of application. ...
03/05/2024
Building work has commenced on a new development in Oundle that will bring self-contained extra care apartments to the area along with 62 homes and three self-build plots. Persimmon's East Midlands team have started preparing the Barnwell Walk site off St Christopher’s Drive in the town and expect ...
03/05/2024
Morgan Sindall has been appointed to two new Pagabo frameworks. The two frameworks are valued at £1.6 billion each and will run for four years. It was confirmed earlier this month that Morgan Sindall had been appointed to the new £1.6bn Healthcare Decarbonisation Framework from Pagabo, which has ...