This estimate prepared by the Bank of England shows that over the past sixteen quarters the UK public have reduced the net mortgage lending.
This shows we have entered a new dawn where for the first time in 11 years the UK public have chosen to reduce the money they owe own on their homes, rather than withdraw equity and increase borrowings. It is also interesting to note that the UK public chooses to invest 2% of their net post tax income into their properties.
Economists have estimated that since the second quarter of 2008 the net amount of equity injected in to UK property has topped the £30 billion pounds mark.