UK: Negative Home Equity Withdrawals Q2

[yoganmahew]

bankofengland.co.uk/statisti … /index.htm

The Bank of England estimate for HEW for 2008 Q2 is -£2.8 billion. The negative figure implies that individuals injected a net total of £2.8 billion into housing equity in the second quarter. That compares with a revised estimate of £5.2 billion of net housing equity withdrawal for 2008 Q1.

Consensus forecase was for for +£2.5 billion.

I guess the September mortgage figures weren’t a blip waiting for stamp duty changes then…