Insolvencies of property companies continue yearly rise

Friday, September 30, 2011

The August Insolvency Index from Experian has shown a slight decrease in the number of insolvencies of property companies from July 2010. However, the figures still show an increase from the figures from August 2010.

The August Insolvency Index from Experian has shown a slight decrease in the number of insolvencies of property companies from July.  However, the figures have revealed an increase from August 2010.

According to the Index, 83 property companies were declared insolvent in August 2011, a 6.41% increase from the figures of August 2010.  The figures nevertheless showed a reduction from the 109 property company insolvencies of July 2011.

The Index showed that the overall rate of company insolvencies dropped to 0.08% in August.

The North East and West Midlands had the highest rate overall in August at 0.11%, whilst the South West had the lowest, at 0.06%.

Source: ask-re The Property People LLP