For all the fears of a leftward shift that could lead to the repossession of white-owned land, as happened in Zimbabwe, or the nationalization of mines, such moves are highly unlikely, said Steven Friedman, a political analyst at the Center for the Study of Democracy at the University of Johannesburg.
Last year, Panorama's Britain's Hidden Housing Crisis showed how quickly the loss of a job or an illness could lead to a house repossession and as Wall Street banker turned rough sleeper Kevin Browne said: "Nobody ever really thinks anything good that happens to them in life is going to end".
Many cases involve a pile-up of calamities: one constituent tearily describes how immigration troubles have led to debt, repossession, repeated school moves and worse.
These led to 14,373 repossession orders being made – 15% fewer than a year earlier – of which 46% were suspended.The ongoing fall is likely to be driven in part by the introduction of the pre-action protocol in November 2008, under which courts can hold back from granting a repossession order unless all other measures to keep someone in their home have failed.
A rise in interest rates would mean an increase in mortgage payments for most homeowners, which could lead to a rise in repossessions if people were unable to afford the higher monthly payments.
The study says this "could lead to an increase in eviction, repossession and homelessness".
The CCCS warned that a housing market recovery could lead to an increase in the number of repossessions as lenders take a harder line with struggling borrowers.
It believes that a housing market recovery may lead to an increase in the number of repossessions as lenders enforce suspended possession orders after previous leniency.
This would lead to a weaker economy, higher interest rates, house repossessions and huge rises in unemployment.
Even a modest increase in interest rates could lead to a sharp rise in mortgage arrears and repossessions, it said.
