UK Home Owners Inject £4 Billion Equity

Home Equity

UK home owners injected more than £4 billion of equity into their homes in the 4th quarter of 2009 as record low interest rates encouraged home owners to pay down their debt.

Figures release by the Bank of England on Tuesday show home owners added £4.038 billion of housing equity between October and December, the equivalent of 1.6% of post-tax income.

That compares with an injection of £5.059 billion in the 3rd quarter of 2009 and £6.126 billion in the quarter previous to that.

Home owners have injected equity into their homes for the past 7 quarters, reversing the trend of home equity withdrawal to spend that has dominated the past decade.

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