Housing finance bounce ends

JUNE KEY POINTS

VALUE OF DWELLING COMMITMENTS

June 2011 compared with May 2011:

  • The trend estimate for the total value of dwelling finance commitments excluding alterations and additions rose 0.5%. Owner occupied housing commitments rose 0.9%, while investment housing commitments fell 0.4%.
  • In seasonally adjusted terms, the total value of dwelling finance commitments excluding alterations and additions fell 1.4%.

    NUMBER OF DWELLING COMMITMENTS

    June 2011 compared with May 2011:

  • In trend terms, the number of commitments for owner occupied housing finance rose 1.0%.
  • In trend terms, the number of commitments for the purchase of new dwellings rose 1.9%, the number of commitments for the purchase of established dwellings rose 0.9% and the number of commitments for the construction of dwellings rose 0.9%.
  • In seasonally adjusted terms, the number of commitments for owner occupied housing finance was flat (0.0%).
  • In original terms, the number of first home buyer commitments as a percentage of total owner occupied housing finance commitments fell from 15.4% in May 2011 to 15.2% in June 2011.

Delusional Economics will return with a detailed assessment later…