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Investors spur January increase in dwelling commitments

by Staff Reporter2 minute read

The total value of housing commitments rose a seasonally adjusted 3.7 per cent in January to $23.166 billion compared to December 2007, ABS data revealed this morning.

The total value of investment housing commitments contributed largely to the rise, increasing a seasonally adjusted 8.3 per cent over the course of the month.

Other significant findings include:

•    Total number of finance commitments for construction of dwellings rose 2.7 per cent, seasonally adjusted, to $4.826 billion

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•    Total value of finance commitments for construction of dwellings for rent or resale rose 81.5 per cent, or $483 million, seasonally adjusted.

•    Total number of finance commitments for purchase of new dwellings decreased 4.9 per cent, seasonally adjusted, to $2.265 billion

•    Total number of first home buyer commitments as a percentage of total owner occupied housing finance commitments decreased to 18 per cent in January, from 18.4 per cent in December 2007.

•    Total number of owner occupied dwellings financed by banks increased by 3.3 per cent, in January, seasonally adjusted.

•    Total number of owner occupied dwellings financed by non-banks decreased by 2.2 per cent in January, seasonally adjusted.

Published: 11-03-08

Investors spur January increase in dwelling commitments
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