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1367.5 - Western Australian Statistical Indicators, Mar 2008  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 16/04/2008   
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Investment and finance INVESTMENT AND FINANCE

PRIVATE NEW CAPITAL EXPENDITURE

Private new capital expenditure (trend chain volume measure) in Western Australia increased by 1.5% ($77 million) to $5,301 million in the December quarter 2007, lower than the growth of 2.1% ($109 million) recorded in the previous quarter. The rise in the December quarter 2007, was driven by investment in both buildings and structures (up $50 million or 1.5%) and equipment, plant and machinery (up $23 million or 1.2%). Western Australia's growth in private new capital expenditure over this period was considerably higher than the national growth of 0.3%.

PRIVATE NEW CAPITAL EXPENDITURE, Chain volume measures
Graph: Private new capital expenditure, Chain volume measures



In original current price terms, Western Australia's business investment rose 20.4% ($1,038 million) to $6,114 million through the year to December quarter 2007. This rise was mainly driven by increased investment in the mining industry, up $730 million (20.5%). Other selected industries (including retail trade, property and business services and construction) (up $169 million or 14.9%) and manufacturing (up $139 million or 37.6%) also recorded growth over the same period.



HOUSING FINANCE COMMITMENTS

The number of dwellings financed for owner occupation (trend) in Western Australia increased 1.2% (305 commitments) in the three months to January 2008, compared to the previous three month period. Since September 2007 (8,357), the number of dwellings financed has risen for four successive months to 8,554 in January 2008. However, in original terms, there were 24,239 dwellings financed in Western Australia in the three months to January 2008, 3.5% (875) less than in the previous three months. Dwellings financed by non-first home buyers fell 3.7% (764), while dwellings financed by first home buyers also declined 2.5% (111).

HOUSING FINANCE COMMITMENTS, Number of dwellings financed
Graph: Housing finance commitments, Number of dwellings financed



The total value of housing finance for owner occupation (original) in Western Australia decreased 6.5% ($392 million) in the three months to January 2008, compared to the previous three month period. The average loan size for first home buyers fell 3.8% ($9,300) and for non-first home buyers it fell 3.0% ($7,100). The difference between the average loan size for first home buyers and non-first home buyers has narrowed considerably in Western Australia in recent months. In July 2007, the average loan size for first home buyers ($259,500) was $23,700 higher than the non-first home buyers ($235,800), but in January 2008 the average loan size for first home buyers ($231,100) was $1,700 less than the non-first home buyers ($232,800).

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