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INVESTMENT AND FINANCE
In original current price terms, Western Australia's private new capital expenditure rose 11.1% ($577 million) to $5,778 million through the year to June quarter 2007. The main driver of growth was investment by other selected industries (including retail trade, property and business services and construction) (up 30.9% or $351 million), followed by mining (up 4.6% or $167 million) and manufacturing (up 14.1% or $59 million).
In the three months to July 2007, Western Australia's total value of finance for owner occupied housing (original) increased 21.0% ($1,162 million) to $6,706 million, compared to the previous three month period. The rise was attributable to growth in finance by both non-first home buyers (up 15.5% or $761 million) and first home buyers (up 62.8% or $401 million). Over the three months to July 2007, the average loan for first home buyers was $246,100, $3,800 higher than for non-first home buyers ($242,300). The average loan for first home buyers grew 18.1% ($37,700) in the three months to July 2007 (compared to the previous three months), much higher than for non-first home buyers (up 6.8% or $15,400).
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