LONDON (MNI) – The pace of UK housing equity injection slowed in
the third quarter, dropping from record high levels in the second
quarter to hit its lowest level since Q3 2010.
In the third quarter UK homeowners injected Stg8.561 billion into
their homes, down from Stg9.628 billion in the second quarter.
Homeowners have been taking advantage of low interest rates to boost
home equity, but with the economic recovery stalling the pace of
injection may continue to slow.
In the third quarter, housing equity injection amounted to 3.3% of
post-tax income, also its weakest reading since Q3 last year.
Housing equity withdrawal is a measure of secured borrowing not
invested in the housing market. It is the net result of increases in
mortgage lending and capital grants minus household investment in
housing.
–London newsroom: 0044 20 7862 7491; email: drobinson@marketnews.com
[TOPICS: M$B$$$,MABDA$,MABDS$]
