Mortgage repossession orders in Essex were 46% down in the last quarter of 2009 compared to the same period in 2008. (Source: Ministry of Justice, February 2010)
Brentwood had the largest decrease in possession orders of any local authority area in the UK with 10 cases from 1st October to 31st December, down 73% on the year before. There were a total of 40 orders in Brentwood Borough for the year.
For the whole of 2009, there were 1685 repossession claims leading to orders throughout the county, with Castle Point noticing the highest average at 4 per 1000 properties of anywhere else in Essex.
Camden had the lowest repossession rate of anywhere in the country at less than 1 per 1000 in the twelve months. However these numbers, as with Castle Point, are somewhat blurred by differences in home owner occupation rates.
Bradford and Leeds are by far the worst local authority areas hit by lenders’ moves to reclaim their collateral. In sheer volume terms they saw 1050 and 1035 orders made respectively during 2009, albeit down 30% or so on 2008.
Ironically (although perhaps indirectly linked) Zoopla have unveiled research today that shows Bradford as the most affordable place to buy a home currently, based on the percentage of earnings needed to service a mortgage relative to the local property price. http://blog.zoopla.co.uk/