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The total value of owner-occupied housing commitments rose by a seasonally adjusted 2.0 per cent ($298 million) in November.
According to figures released yesterday by the the ABS, the increase was mainly due to a rise in the refinancing of established dwellings – up $221 million (5.9 per cent) and the purchase of established dwellings (excluding refinancing), which was up $169 million, or 1.8 per cent.
These strong gains were offset by decreases in the purchase of new dwellings – which was down 6.8 per cent – and the construction of dwellings, down 3.6 per cent.
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