Divorce and property prices – yes they are linked.

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Divorce and property prices

Divorce and property prices

The UK has seen a decrease in divorce rates from a high of 141,000 in 2007 to a low of 117,000 in 2011 and economists in various studies have linked the decrease to the effects of economic contraction and a decrease in property prices

It therefore follows that when economies start to improve and move into positive territory, the divorce rate will follow upwards.

In the UK, prosperity is linked to the value of houses and an  increase in first time buyers in the UK has resulted in a degree of optimism for the residential property market for 2013. In addition to this, Mortgage brokers in the UK have also become increasingly confident about the overall outlook for the lending market this year.

It found that 75% percent of brokers were encouraged and more confident about the mortgage market coming into the New Year, an increase of 6% compared with the previous quarter.

Positive house price data is often accompanied by improvements in consumer confidence, which in turn leads to more consumer spending in the economy, which could be the first signs of economic revival in the UK.

It is probably too early to tell, but with companies sitting on large amounts of capital  for investment, waiting for positive news, it could be the turning point and the start of growth as companies invest in new plant, factories and services.

If property prices begin to move upwards and credit for mortgages becomes less onerous, more people contemplating divorce, will feel they are able to make the move and physically split from their partners.

 

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Mark Keenan

About Mark Keenan

Editor of the Divorce Online blog

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