Five million facing negative equity

As many as five million homeowners could be in negative equity by the end of this year if house prices continue to fall research by GfK NOP found. An estimated 3.8 million people either already owe more on their mortgage than their home is worth, or are very close; and a further 1.2 million homeowners are expected to be in negative equity by the end of the year if house prices drop by 10 to 20 per cent. Single people aged 25 to 34, young couples and younger families are most likely to find themselves in negative equity.