5609.0 - Housing Finance, Australia, May 2008  
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 09/07/2008   
   Page tools: Print Print Page Print all pages in this productPrint All

MAY KEY FIGURES

Trend estimates
Seasonally adjusted estimates
May 2008
Apr 2008 to May 2008
May 2008
Apr 2008 to May 2008

Value of dwelling commitments(a)
$m
% change
$m
% change
Total dwellings
18 809
-3.6
18 141
-6.1
Owner occupied housing
13 076
-3.7
12 581
-5.7
Investment housing - fixed loans(b)
5 733
-3.4
5 560
-6.8
Number of dwelling commitments(a)
no.
% change
no.
% change
Owner occupied housing
54 738
-4.2
52 006
-7.9
Construction of dwellings
4 495
-1.3
4 367
-5.0
Purchase of new dwellings
1 792
-5.0
1 667
-13.5
Purchase of established dwellings
48 451
-4.5
45 972
-8.0

(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




MAY KEY POINTS


VALUE OF DWELLING COMMITMENTS

May 2008 COMPARED WITH April 2008:
  • In trend terms, the total value of dwelling finance commitments excluding alterations and additions decreased 3.6%. Owner occupied housing commitments decreased 3.7% and investment housing commitments decreased by 3.4%.
  • In seasonally adjusted terms, the total value of dwelling finance commitments excluding alterations and additions decreased 6.1%. Investment housing commitments decreased 6.8% and owner occupied housing commitments decreased 5.7%.


NUMBER OF DWELLING COMMITMENTS

May 2008 COMPARED WITH April 2008:
  • In trend terms, the number of commitments for owner occupied housing finance decreased 4.2%. The number of commitments for owner occupied housing finance excluding refinancing fell 4.4%.
  • In trend terms, the total number of commitments for purchase of established dwellings fell 4.5% and the seasonally adjusted series decreased 8.0%.
  • In original terms, the number of first home buyer commitments as a percentage of total owner occupied housing finance commitments increased from 16.9% in April 2008 to 17.3% in May 2008.
  • In original terms, the number of fixed rate loan commitments as a percentage of total owner occupied housing finance commitments decreased from 17.5% in April 2008 to 13.0% in May 2008.


NOTES

FORTHCOMING ISSUES

ISSUE Release Date
June 2008 6 August 2008
July 2008 9 September 2008
August 2008 8 October 2008
September 2008 10 November 2008
October 2008 10 December 2008
November 2008 14 January 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.