Housing Market recovery? Yeah, right...

This press release, and subsequent (though patchy) coverage in the National Press is a sign that mortgage possession actions are on the increase. Indeed, the statistics show the highest quarterly figure in the past 10 years.

Although the Guardian tries to stay optimistic ("The figures do not show how many houses are actually repossessed because not all orders are carried out. In many cases, a compromise will be negotiated or an order will be suspended"), money advisers know that those compromises often suit the borrower rather than the lender: they may entail further borrowing, a remortgage or unrealistic levels of repayment.

I can't say that I've managed to notice any changes 'on the ground' to the numbers with such problems, but given these figures, it would seem to be only a matter of time.