Their research focuses on the property liabilities of households in Great Britain, examining both the self-reported burden and the characteristics of those households with this form of debt.
In Great Britain in 2008/10:
- Fewer than two in every five of all households (37.3%) had outstanding property debt on their main residence.
- The combined value of this property debt was £847.9 Billion, up by 3.1% in current prices from 2006/08.
- For households with property debt on their main residence, half owed at least £75,000; households in London had the highest median property debt (£128,000), whilst households in Scotland had the lowest (£55,000).
- Fewer households considered their property debt ‘a heavy burden’ (13.6%), down from 15.2% in 2006/08.
- Only two regions, the North East and Wales, saw a rise in the percentage of households with property liabilities reporting them to be ‘a heavy burden’ since 2006/08.
