Bankruptcies and prices both rise

A total of 33,945 people have been served with bankruptcy orders over the past year – a rise of 13% over the previous year, latest government figures reveal this month.

Personal bankruptcies in the third quarter of 2003 are almost 17% higher than in the third quarter of 2002.

The figures also show that the average house price in England and Wales is now £161,665 – over 10% more than a year ago. The Land Registry&#39s third quarter property price report shows that the average house price has increased by 10.62% from £146,150 in 2002 to £161,665 in 2003. The report reveals that the volume of sales has decreased by 11.44% from 328,184 in 2002 to 290,637 this year.

The figures come just days after the Liberal Democrats released figures showing individual personal debt has leapt by 50% since 1997.