Net consumer debts hold whilst house prices fall

Tuesday 13th November 2007 - 16:44

The Royal Institution of Chartered Surveyors has reported that UK debts have held at 1.4 trillion pounds whilst house prices have fallen for the first time in 24 months.  

In addition net consumer credit has risen from 1.1 billion to 1.35 billion pounds whilst net credit card lending has jumped to 310 million pounds from 130 million pounds. 

According to the report a tripling of house prices in the last ten years has encouraged UK home owners to continue to borrow.

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