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South-west [sic] is hit by wave of repossessions
 
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PostPosted: Mon Oct 06, 2008 6:33 pm    Post subject: South-west [sic] is hit by wave of repossessions Reply with quote

http://www.guardian.co.uk/business/2008/oct/06/housingmarket.houseprices

South-west [sic] is hit by wave of repossessions
Quote:


Penzance: Repossession court recently put through 50 orders in one morning. Photo: Corbis

Steven Morris The Guardian, Monday October 6 2008 Article history

The south-west of England has become a hotspot for repossessions, with hundreds of people being forced out of their homes and into temporary accommodation, including caravan sites, every month.

Latest figures from the Ministry of Justice reveal that the number of repossession claims issued in Devon and Cornwall were up by 41% this spring compared with the same period last year.

But experts in the south-west are convinced the situation this autumn is already much worse than the figures suggest.

One repossession and eviction court in Penzance, west Cornwall, raced through 50 cases in one morning recently. In Barnstaple, north Devon, the last repossession court heard 26 cases - more than double the number before the credit crunch.

Stephen Davis, manager of Torridge and Bude Citizens Advice Bureau, said: "The problem is simple. In the south-west we have lower than average wages and above-average house prices. People have overreached themselves." In the area covered by North Cornwall district council the average wage is 23,000. The average house price is 23 times that.

The owner of one static caravan park in Devon said he was allowing families to live in caravans that officially should only be inhabited for limited periods. "I think the council knows about it but I think they are turning a blind eye," he said.

Nationally, repossessions were up by 17% in the second quarter of this year compared with the same period in 2007.

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 Random Information. 
 The Cornish Rebellion of 1497 was a popular uprising by the people of Cornwall in the far south west of Britain. Its primary cause was the raising of war taxes by King Henry VII on the impoverished Cornish for a campaign against Scotland, motivated by brief border skirmishes that were inspired by Perkin Warbeck's pretence to the English throne. Tin miners were angered as the scale of the taxes violated previous rights granted by Edward I of England to the Cornish Stannary Parliament which exempted Cornwall from all taxes of 10ths or 15ths of income. The Cornish had little sympathy for English wars against Scotland, considering that most Cornish were not English speakers at that time.  


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