Proportion of borrowers facing negative equity in different regions of the UK. As you can see, more than one in ten in the North West and Yorkshire & Humber currently owe more than the value of their home. The proportion in London and the South East is lower than 1%.
During the early 1990s housing slump around 11% of mortgage borrowers across the UK were in negative equity; however, the pain was mostly felt in the South East and London, in stark contrast to the current situtation.
UPDATE: According to Steve Laird the figure for Northern Ireland is 35%, according to the CAB.