If you remember, at the time of initial debt crisis in the US, banks were pushed to take houses under custody - the owner of which failed to provide mortgage. Irrespective of the step taken by the Government to tackle the situation, the number of foreclosure is still on high.

It seems that the hope of millions of Britons to have a dream home is shattered. As per a recent research, six million Britons would never be able to own a house. With the hopes of almost a third of prospective home owners fading away, as per the study conducted by Moneysupermarket.

According to latest data from the Council of Mortgage Lenders (CML), mortgage lending has declined by 14% this year. At present, mortgage lending is at £9.8bn, low from £11.4bn in April.

CML said that the decline in prices was expected because of the Easter holidays in April this year.

Reports are saying that the housing market in UK is improving at a steady state but the weaknesses are prevailing. This has been published last night by the Royal Institute of Chartered Surveyors (RICS). There has been a 18% rise in last month as compared to 4% fall in the previous month.

Housing prices in the UK are on an ongoing decline, confirmed figures published by financial service provider Halifax. According to the release, the average cost of a home dropped 1.4% during the last month, and 3.7% quarter-on-quarter compared with 2010, to stand at GB£ 160,395.

According to figures released today, people who want to buy a house in South Wales are finding it harder and harder to get property than those who live in other parts of the United Kingdom.

Despite property prices still falling in the entire UK, commercial office space in the Greater London area experienced a growth of 22%. With the financial and ancillary sector expanding again, short demand was made responsible for the sharp increase in value.

Lending figures from the Bank of England which revealed a 60% fall in mortgage lending in March, as a result of property market not moving. The net lending after redemptions and repayments, which was £1.71 billion in January and £950m on February, went down to £374 million in March.

According to the Chief Economist, Robert Gardner, the prices for usual houses were observed to roll down by 0.2% in April, approximately, 1.3% lower than the same period of last year, 2010. The quarter-on-quarter change has reported a 0.6pc hike during the 3 months to the end of April and observed on peak since the last year July.

According to the report of Hometrack’s Monthly National Housing Survey, over last nine months, it is for the first time that no price fall has been recorded in regard to houses here. By this, the average price exists as £153,100.