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5609.0 - Housing Finance, Australia, Dec 2008 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 11/02/2009   
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DECEMBER KEY FIGURES

Trend estimates
Seasonally adjusted estimates
Dec 2008
Nov 2008 to Dec 2008
Dec 2008
Nov 2008 to Dec 2008

Value of dwelling commitments(a)
$m
% change
$m
% change
Total dwellings
17 983
0.8
18 633
5.9
Owner occupied housing
12 897
1.7
13 506
7.1
Investment housing - fixed loans(b)
5 086
-1.3
5 127
2.9
Number of dwelling commitments(a)
no.
% change
no.
% change
Owner occupied housing
50 621
1.3
52 974
6.4
Construction of dwellings
4 041
1.1
4 285
9.9
Purchase of new dwellings
2 062
4.7
2 275
15.2
Purchase of established dwellings
44 518
1.1
46 413
5.6

(a) Includes refinancing.
(b) Excludes revolving credit.

Value of dwelling commitments, Total dwellings
Graph: Value of dwelling commitments, Total dwellings

No. of dwelling commitments, Owner occupied housing
Graph: No. of dwelling commitments, Owner occupied housing




DECEMBER KEY POINTS


VALUE OF DWELLING COMMITMENTS

December 2008 compared with November 2008:
  • In trend terms, the total value of dwelling finance commitments excluding alterations and additions increased 0.8%. Owner occupied housing commitments increased 1.7%, while investment housing commitments decreased 1.3%.
  • In seasonally adjusted terms, the total value of dwelling finance commitments excluding alterations and additions increased 5.9%. Owner occupied housing commitments increased 7.1%, while investment housing commitments increased 2.9%.


NUMBER OF DWELLING COMMITMENTS

December 2008 compared with November 2008:
  • In trend terms, the number of commitments for owner occupied housing finance increased 1.3%. The number of commitments for owner occupied housing finance excluding refinancing rose 1.6%.
  • In trend terms, the number of commitments for the purchase of new dwellings increased 4.7%.
  • In original terms, the number of first home buyer commitments as a percentage of total owner occupied housing finance commitments increased from 23.6% in November 2008 to 25.4% in December 2008, the highest proportion since December 2001.
  • In original terms, the number of fixed rate loan commitments as a percentage of total owner occupied housing finance commitments decreased from 2.5% in November 2008 to 1.9% in December 2008.


NOTES

FORTHCOMING ISSUES

ISSUE Release Date
January 2009 11 March 2009
February 2009 8 April 2009
March 2009 12 May 2009
April 2009 10 June 2009
May 2009 8 July 2009
June 2009 10 August 2009



REVISIONS

Revisions have been made in this month's issue to include the latest available administrative and survey data.


INQUIRIES

For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Susan Schemen on Canberra (02) 6252 5171.


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