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Written by rosalind renshaw

Insolvencies in property businesses rose by just over 17% last year, Experian reported today. Its figures come as new HMRC figures show that house sales fell by just over 1% last year, with only 890,000 completitions. According to HMRC, this was the lowest since 2009, when they fell to a record low of 848,000.

Experian said the property sector saw one of the largest increases in its insolvency rate in 2011, when a total of 1,440 property companies failed, up from 1,054 the year before.

Even so, the proportion of property firms failing was tiny, last year representing just 0.91% of the sector.  

The firm does not spell out different types of companies in the property sector, but does distinguish between the property sector and building and construction.

Overall, the proportion of all UK businesses failing was 1.1% of the total business population. This was slightly higher than 1.03% in 2010, but compares with 1.25% in 2009.

In terms of numbers, the building and construction sector was hardest hit, with 3,275 failures, a rise of 0.4% on 2010.

Comments

  • icon

    Ranty your rent more than covers my mortgage to buy me a nice loan free asset to retire on, please don't get a job and keep getting the benefits so you keep paying , mug!

    • 27 January 2012 12:16 PM
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    Estate Agent Today - staring folornly out of the window tomorrow.

    No change there.

    • 26 January 2012 10:28 AM
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    Estate Agent today - Tea Boy tomorrow.

    *Not much change there really

    • 25 January 2012 17:32 PM
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    The interest on my savings mostly covers my rent thanks Brian.

    • 25 January 2012 13:20 PM
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    You lot will need to re-think when max levels of scrounging benefits from those that pay tax come in. Get a job perhaps?

    Will it cover your rent??

    • 25 January 2012 13:04 PM
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    Estate Agent Today - Job Seekers' Allowance Tomorrow

    • 25 January 2012 13:00 PM
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    Estate Agent Today, Asda trolley boy tomorrow.

    • 25 January 2012 11:28 AM
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    Property is over-priced and everybody knows it. Set realistic asking prices and people will buy.

    • 25 January 2012 11:27 AM
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    Compared to 2006 where it was 1,669,000.

    That's 53% of the 2006 figure, so you could say that just under half of the buying public either couldn't or wouldn't...

    The interesting thing about this stat is that in the South East, London is doing very well, in the North of England there are more forced sales that in the South and where I work it would appear that transaction levels are about a third of normal.

    • 25 January 2012 11:07 AM
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    890,000 peolple who think the idiot HPC nutters wrong and put thier money where their mouths are, rather than type rubbish.

    • 25 January 2012 08:59 AM
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