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SUMMARY OF FINDINGS
Number of Owner Occupied Dwellings Financed The number of owner occupied housing commitments (seasonally adjusted) decreased by 4.1% (down 2,711) in July 2007 compared with June 2007, following an increase of 0.8% in June 2007. Decreases were recorded in purchase of established dwellings excluding refinancing (down 1,436, 3.6%), refinancing of established dwellings (down 1,081, 5.9%), construction of dwellings (down 153, 3.3%) and purchase of new dwellings (down 41, 1.3%). The number of owner occupied housing commitments (trend) decreased 0.1% in July 2007.
Number of Owner Occupied Dwellings Financed Excluding Refinancing The number of owner occupied housing commitments excluding refinancing (seasonally adjusted) decreased by 3.4% in July 2007 compared with June 2007, following an increase of 2.1% in June 2007. The trend rose 0.6% in July 2007, the ninth consecutive monthly increase. PURPOSE OF FINANCE (OWNER OCCUPATION) Construction of dwellings The number of finance commitments for the construction of dwellings for owner occupation (seasonally adjusted) fell 3.3% in July 2007, following a 2.7% increase for June 2007. The trend series fell by 0.1% in July 2007. Purchase of new dwellings The number of finance commitments for the purchase of new dwellings for owner occupation (seasonally adjusted) fell by 1.3% in July 2007, following an increase of 5.5% in June 2007. The trend series rose by 1.1% in July 2007, the eighth consecutive monthly increase. Purchase of established dwellings (including refinancing) The number of finance commitments for the purchase of established dwellings for owner occupation (seasonally adjusted) fell by 4.3% in July 2007, following an increase of 0.4% in June 2007. The trend series decreased by 0.2% in July 2007. Refinancing The number of refinancing commitments for owner occupied housing (seasonally adjusted) fell by 5.9% in July 2007 compared with June 2007, following a decrease of 2.5% in June 2007. The trend series fell by 1.9% in July 2007, the tenth consecutive monthly decrease. TYPE OF LENDER (OWNER OCCUPATION) Banks The number of owner occupied dwellings financed by banks (seasonally adjusted) decreased by 5.1% in July 2007 compared with June 2007, after a 1.0% increase in June 2007. The trend series fell by 0.2% in July 2007. Non-banks The number of owner occupied dwellings financed by non-banks (seasonally adjusted) increased by 0.1% in July 2007 compared with June 2007, after an increase of 0.2% in June 2007. The trend series increased by 0.3% in July 2007. HOUSING LOAN OUTSTANDINGS At the end of July 2007, the value of outstanding housing loans financed by authorised deposit-taking institutions was $650,532m, up $6,195m (1.0%) from the June 2007 closing balance. Owner occupied housing loans increased by $4,460m (1.0%) to close at $438,066m, while investment housing loans increased by $1,735m (0.8%) to reach a closing balance of $212,466m.
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