In seasonally adjusted terms, the Bank’s measure of housing equity withdrawal (HEW) in 2012 Q1 was -£8.8bn, £0.3bn lower than the figure for 2011 Q4 (Table A). HEW as a percentage of post-tax income was -3.3% in 2012 Q1, compared with the figure for 2011 Q4 of -3.2%. The negative figures indicate a continued injection of housing equity by households overall, with the net flow of lending secured on dwellings remaining weaker than their investment in housing. The flow of secured lending remained positive (Table A). The decline in HEW – and move to injections of housing equity - since the start of the financial crisis ... (full story)