|Page tools: Print Page Print All RSS Search this Product|
INVESTMENT AND FINANCE
In original current prices terms, Western Australia's business investment rose 17.9% ($709 million) to $4,670 million through the year to March quarter 2007. This rise was mainly driven by increased investment in the mining industry, up 23.8% ($622 million) to $3,237 million, as well as an 18.4% rise in investment in other selected industries (including retail trade, property and business services and construction) (up $166 million to $1,066 million). Manufacturing industry investment, however, fell 17.5% ($78 million) to $368 million through the year.
In original terms, the total value of housing finance for owner occupation in Western Australia increased 3.0% ($163 million) in the three months to April 2007, compared to the previous three month period. Growth was entirely driven by the value of housing finance for non-first home buyers, rising 4.1% ($195 million), partially offset by a 4.8% ($32 million) fall in the value of housing finance for first home buyers. The difference between the average loan size for first home buyers and non-first home buyers has widened considerably in Western Australia in recent months. In January 2007, the average loan size for non-first home buyers ($220,800) was $3,900 higher than for first home buyers ($216,900), but by April 2007 this gap had widened to $22,400 - $218,500 (non-first home buyers) compared to $196,100 (first home buyers). In the three months to April 2007, the total value of housing finance for investment (original) rose 5.2% ($122 million) in Western Australia, compared to the previous three month period.
These documents will be presented in a new window.