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SUMMARY OF FINDINGS
INVESTMENT HOUSING - TOTAL Number of Owner Occupied Dwellings FinancedThe number of owner occupied housing commitments (seasonally adjusted) decreased by 2.4% (down 1,553) in September 2007 compared with August 2007, following an increase of 1.4% in August 2007. Decreases were recorded in purchase of established dwellings excluding refinancing (down 1,125, 3.0%), refinancing of established dwellings (down 389, 2.1%) and purchase of new dwellings (down 106, 3.5%), while construction of dwellings rose (up 67, 1.4%). The number of owner occupied housing commitments (trend) decreased 0.9% in September 2007.
Number of Owner Occupied Dwellings Financed Excluding Refinancing The number of owner occupied housing commitments excluding refinancing (seasonally adjusted) decreased by 2.5% in September 2007 compared with August 2007, following an increase of 0.4% in August 2007. The trend fell 0.8% in September 2007. PURPOSE OF FINANCE (OWNER OCCUPATION) Construction of dwellings The number of finance commitments for the construction of dwellings for owner occupation (seasonally adjusted) increased by 1.4% in September 2007 compared with August 2007, following an increase of 2.7% in August 2007. The trend rose 0.5% in September 2007. Purchase of new dwellings The number of finance commitments for the purchase of new dwellings for owner occupation (seasonally adjusted) fell by 3.5% in September 2007, following an increase of 0.1% in August 2007. The trend series fell by 0.4% in September 2007. Purchase of established dwellings (including refinancing) The number of finance commitments for the purchase of established dwellings for owner occupation (seasonally adjusted) fell by 2.7% in September 2007, following an increase of 1.3% in August 2007. The trend series decreased by 1.1% in September 2007. Refinancing The number of refinancing commitments for owner occupied housing (seasonally adjusted) fell by 2.1% in September 2007 compared with August 2007, following an increase of 3.9% in August 2007. The trend series fell by 1.3% in September 2007, the eleventh consecutive monthly decrease. TYPE OF LENDER (OWNER OCCUPATION) Banks The number of owner occupied dwellings financed by banks (seasonally adjusted) decreased by 0.4% in September 2007 compared with August 2007, after an increase of 2.0% in August 2007. The trend series fell by 0.7% in September 2007. Non-banks The number of owner occupied dwellings financed by non-banks (seasonally adjusted) decreased by 10.1% in September 2007 compared with August 2007, after a decrease of 0.9% in August 2007. This fall was driven by a decrease of 12.6% in financing by wholesale lenders n.e.c. The trend series in the number of owner occupied dwellings financed by non-banks decreased by 2.0% in September 2007. HOUSING LOAN OUTSTANDINGS At the end of September 2007, the value of outstanding housing loans financed by authorised deposit-taking institutions was $663,365m, up $7,013m (1.1%) from the August 2007 closing balance. Owner occupied housing loans increased by $5,303m (1.2%) to $447,432m, while investment housing loans increased by $1,710m (0.8%) to $215,933m.
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