Deep North South property divide in repossessions | Mail Online

Deep North South property divide in repossessions | Mail Online

The growing national property divide has continued to accelerate, with people in the North far more likely to lose their home compared to those in the South, a heatmap has revealed.
Analysis of court-ordered repossessions in the second half of 2011, broken down by postcode ,by chartered surveyors e.surv, found that the North East and the M62 corridor – which includes industrial Lancashire and parts of south Yorkshire - were the regions where repossessions are rife.
With public sector austerity and weak economic growth hitting northern regions hard, borrowers in the North – particularly urban areas dependent on public sector employment and with lower levels of affluence – have found it harder to keep up with mortgage payments.