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5609.0 - Housing Finance, Australia, Aug 2008 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 08/10/2008   
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AUGUST KEY FIGURES

Trend estimates
Seasonally adjusted estimates
Aug 2008
Jul 2008 to Aug 2008
Aug 2008
Jul 2008 to Aug 2008

Value of dwelling commitments(a)
$m
% change
$m
% change
Total dwellings
17 458
-1.3
17 513
-3.0
Owner occupied housing
12 028
-1.5
12 123
-2.1
Investment housing - fixed loans(b)
5 430
-1.0
5 390
-5.0
Number of dwelling commitments(a)
no.
% change
no.
% change
Owner occupied housing
48 342
-2.3
48 903
-2.2
Construction of dwellings
3 958
-2.8
3 886
-4.0
Purchase of new dwellings
1 620
-2.8
1 609
-6.0
Purchase of established dwellings
42 764
-2.2
43 408
-1.9

(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




AUGUST KEY POINTS


VALUE OF DWELLING COMMITMENTS

August 2008 compared with July 2008:
  • In trend terms, the total value of dwelling finance commitments excluding alterations and additions decreased 1.3%. Owner occupied housing commitments decreased 1.5% and investment housing commitments decreased 1.0%.
  • In seasonally adjusted terms, the total value of dwelling finance commitments excluding alterations and additions decreased 3.0%. Investment housing commitments decreased 5.0% and owner occupied housing commitments decreased 2.1%.


NUMBER OF DWELLING COMMITMENTS

August 2008 compared with July 2008:
  • In trend terms, the number of commitments for owner occupied housing finance decreased 2.3%. The number of commitments for owner occupied housing finance excluding refinancing also fell 2.3%.
  • In trend terms, the total number of commitments for the purchase of established dwellings fell 2.2% and the seasonally adjusted series decreased 1.9%.
  • In original terms, the number of first home buyer commitments as a percentage of total owner occupied housing finance commitments remained unchanged at 18.6%.
  • In original terms, the number of fixed rate loan commitments as a percentage of total owner occupied housing finance commitments decreased from 8.8% in July 2008 to 4.6% in August 2008.


NOTES

FORTHCOMING ISSUES

ISSUE Release Date
September 2008 10 November 2008
October 2008 10 December 2008
November 2008 14 January 2009
December 2008 11 February 2009
January 2009 11 March 2009
February 2009 8 April 2009



CHANGES IN THIS ISSUE

A Quality Declaration for this publication has been released with this month's issue on the ABS website. The Quality Declaration contains information relating to the relevance, timeliness, accuracy, coherence, interpretability and accessibility of the data in this publication. The Quality Declaration can be found on the ABS website via a link alongside the publication title or within the Explanatory Notes section for Housing Finance Australia (cat. no. 5609.0).


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 Philip Beresford on Canberra (02) 6252 6052.


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