1307.8 - Australian Capital Territory in Focus, 2007  
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Contents >> Housing and Construction >> Finance Commitments

FINANCE COMMITMENTS

Housing finance commitments are secured loans from significant lenders (banks, building societies, insurance companies etc) to individuals, where the purpose of the loan is the construction or purchase of owner occupied dwellings or dwellings for rent or resale (investment housing).


In trend terms, there were 8,796 housing finance commitments in the ACT during 2006, compared with 738,680 nationally. Over the past six years, housing finance commitments in the ACT have fluctuated. While the 2006 figure was a 17.7% increase from 2005 (7,474 commitments), it was a decrease of 10.7% from 2003 (9,849 commitments). Nationally, there was a 9.2% increase from 2005 to 2006 and a 9.8% increase from 2003 to 2006.

12.6 Housing finance commitments(a)(b): Trend series

2001
2002
2003
2004
2005
2006
no.
no.
no.
no.
no.
no.

ACT
8 973
9 763
9 849
7 263
7 474
8 796
Aust.
606 976
625 343
676 625
615 695
672 604
738 680

(a) Excludes alterations and additions. Includes refinancing.
(b) The number and value of owner occupied housing commitments for the construction of dwellings has been revised downward in all states and territories back to November 1995, mainly due to the incorrect inclusion of finance commitments for the purchase of individual residential blocks of land.
Housing Finance, Australia, March 2007 (cat. no. 5609.0), Time series spreadsheets.


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