We asked is the debt on your home ‘a heavy burden’, ‘somewhat of a burden’ or ‘no problem at all’. The survey said: UH UHHHHH.

Actually, it was a bit more positive than that. The ONS has been looking at what it calls the burden of property debt in the UK, and compared the years 2006-08 with 2008-10. When the survey asked the key questions, the response elicited more of a ringing sound. In 2006-08 15.2 per cent of households opted for ‘heavy burden’. By 2008-10 the number had fallen to 13.6 per cent.

The percentage number who said ‘somewhat of a burden’ also decreased, from 38.0 to 37.0 per cent.

Surveys are great if your idea of fun is hearing buzzers. But what about some cold hard data?

It turns out that in 2008-10, 37.3 per cent of households said they had property debt. That was 0.9 percentage points down on the previous period.

The combined value of this property debt rose, however, from £822.2 billion to £847.9 billion.

 

 

 

© Investment & Business News 2013