|M/M percent change||1.2%||0.9%||-0.8%|
|Yr/Yr percent change||-2.6%||-4.2%|
The number of dwelling commitments for owner occupied housing in Australia rebounded by 0.9 percent in November, after declining 0.6 percent in October. On the year, the number of dwelling commitments declined 2.6 percent. The monthly increase reflects a rebound in commitments for the purchase of established dwellings (0.6 percent), as well as commitments for the construction of dwellings (up 2.3 percent). Commitments for the purchase of new dwellings jumped 3.3 percent.
In value terms, the total value of dwelling commitments excluding alterations and additions was up 2.2 percent in November. The total value of owner occupied housing commitments was up 0.4 percent while investment housing (fixed loans) was up 4.9 percent.
Home Loans data are included in the monthly housing finance report. The report also contains data for home loans for secured and unsecured housing finance commitments for owner occupation, commitments for construction or purchase of dwellings for rent or resale and loans outstanding to individuals/households for housing.
The health of the housing market is always a key element in evaluating the strength of the economy. And it is no different for Australia. The data released here are for secured and unsecured housing finance commitments for owner occupation, commitments for construction or purchase of dwellings for rent or resale, and loan outstanding to individuals/households for housing.
For secured housing finance for owner occupation, these data give the number and value of commitments made by banks, permanent building societies, wholesale lenders not elsewhere classified and other lenders, provided to individuals/households. These commitments are classified by construction of dwellings, the purchase of new and established dwellings, the refinancing of existing dwellings and alterations and additions to dwellings.
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