Five million UK homeowners will have fallen into negative equity by the end of 2009, according to leading UK research house GfK NOP, with 700,000 of those at risk already heavy debt holders.
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The Land Registry has revealed that house prices in England and Wales during January were 15.1% lower than a year earlier.
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Fixed rate mortgages equate to three quarters of the deals on offer to first time buyers, but with rates as much as seven times base rate, there is little incentive for new borrowers to get on the first rung of the ladder, Moneyfacts.co.uk has said.
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New house-building statistics reveal that the number of applications from builders to start new homes fell by almost two thirds year-on-year during the three-months from November to January.
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House prices fell by 1.8% in February as confidence in the UK property market failed to pick up, according to the Nationwide building society.
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The Office of Fair Trading has launched its market study into home buying and selling, following two months of discussion with interested parties on its scope.
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Parents on the look out for a new home are being driven increasingly by the performance of local state schools, reports email4property.co.uk, as many wealthier families start to look away from private education in the current financial climate.
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