According to a new report, the number of households in the UK with negative equity has fallen during the previous 18 months.

The Council of Mortgage Lenders (CML) report showed that level of un-mortgaged housing equity with the borrowers remained at the same level at about £800 billion since the previous year even as the housing prices fell during the period.

The report also showed that level of equity to outstanding mortgage debt was equal to an average loan to value ratio of 56 per cent. The total number of borrowers in negative equity fell from 827,000 during the first quarter of 2011 to 719,000 at the present quarter.

It was also found that the percentage of first-time buyers, who have borrowed since 2005 and are in the negative territory, has fallen from 26 per cent to 20 per cent. About 90 per cent of all the borrowers, who have taken a loan since 2005, have some equity in their property.

The CML also said that the price of the typical home has not changed much, recording a fall of 0.3% according to the Halifax index.