Over the last year the number of house repossessions has been at a high but there are the green shoots of recovery beginning to emerge, but with this being said there are still many people struggling with mortgage payments.  According to a news report by the BBC the number or properties repossessed over the second quarter of 2009 has dropped by 10% compared to the previous quarter.  This may be good as an indication that things are beginning to improve but as a year on year figure this is 14% higher than the previous year and this is a significant amount.

There are some stark warnings about the economy and the coming months where by unemployment has been rising and there could be more people in financial difficulty.  Of course this has a knock on effect for all sectors of the property market and not only do the people who loose their homes need to be re-housed but the vacant properties that have been repossessed need to be dealt with by the financial institutions.  For the savvy landlord or property developer this presents itself with an opportunity to buy the properties at a knock down price, of course funding can be an issue so only the privileged few would be in a position to be able to obtain the funding in the current climate.  However if this is possible then there are plenty of options for making some improvements to the property and then renting it out to the private or the social sector.  The rental property market is still in good shape over the troubled economic times and with tenants searching for property there are real opportunities.