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LONDON (SHARECAST) - Britain has long had a love affair with property ownership. This obsession fuelled four booms and busts since 1970 and no matter how ludicrous prices became there was always someone ready to take on astronomical amounts of debt to own their piece of this Sceptred Isle.
The recent economic crisis changed all that. The desire to own a home has not gone away, but the means to satisfy it have changed radically.
Total mortgage approvals by high street banks in April of 29,355 were just above half the average monthly level of 57,644 seen since 1997.
Falling house prices have stopped .......
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