Following on from our previous article which looked at the latest Gov.uk repossessions figures in detail and took a deep dive into North West England, we move on to our next region to analyse – East Midlands.
In early February this year, Gov.uk release the latest batch of repossession statistics which covers the period of Oct-Dec 2022 with which we can now look at how many repossessed properties areas within the East Midlands had for 2022.
In total, East Midlands recorded 210 repossessed properties for last year which equates to 7% of all repossessions in the UK for 2022. For the most recent quarter (Oct-Dec), figures have risen by 97% when comparing it to the same period as last year, equating to an additional 28 repossessed properties in the area.
In terms of total number of repossessed properties in East Midlands, the areas which recorded the highest numbers for 2022 were West Northamptonshire (22), Nottingham (17), Derby (15), Leicester (13) and North Northamptonshire (10).
When comparing to the same period as last year (Q4 2021), four areas within the region recorded an increase of 3 or more repossessed properties which were West Northamptonshire (+6), South Holland (3), North West Leicestershire (3) and North Kesteven (3).
In contrast, there were five areas which showed a decrease repossessed properties YOY which were Bolsover (-2), West Lindsey (2), North Northamptonshire (1), Boston (1) and Ashfield (1).
When looking at the data versus the previous quarter, six areas in East Midlands recorded an increase of 2 repossessed properties. These were South Holland, North Kesteven, Amber Valley, Charnwood, High Peak and North Northamptonshire.
As with our previous deep dives, it’s difficult to predict the state of the repossessed property market this year but using the data available to us, Repossessedhousesforsale.com has narrowed it down to three areas which we believe investors should keep a close eye on when searching for repossessed houses for sale in 2023. These are West Northamptonshire, South Holland and North Kesteven.
Nottingham recorded 17 repossessed properties in 2022, the 2nd highest in South West England and representing 8% of all repossessions in Nottingham.
The latest figures show Q4 alone having 4 repossessed properties, meaning that records were flat YoY.
Leicester recorded 13 repossessed properties in 2022, the 4th highest in East Midlands and representing 6% of all repossessions in Nottingham.
Q2 2022 recorded 7 repossessions which accounts for 47% of all repossessions recorded that year in the region.
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