Housing Finance misses

Fresh from the Numberwang comes August Housing Finance which handily missed expectations of .2% growth at -.9%:

AUGUST KEY FIGURES

	Trend estimates		Seasonally adjusted estimates
	Aug 2014	Jul 2014 to Aug 2014	Aug 2014	Jul 2014 to Aug 2014
Value of dwelling commitments(a)(b)
	$m	% change	$m	% change
Total dwellings	28 067	0.3	28 006	-1.2
Owner occupied housing	16 820	-0.1	16 631	-2.0
Investment housing – fixed loans(c)	11 247	0.9	11 375	-0.1
Number of dwelling commitments(a)(b)
	no.	% change	no.	% change
Owner occupied housing	51 967	-0.2	51 787	-0.9
Construction of dwellings	6 149	-0.2	6 096	-0.8
Purchase of new dwellings	2 918	1.7	2 952	2.5
Purchase of established dwellings	42 900	-0.3	42 739	-1.1
(a) Includes refinancing (see Glossary).
(b) Excludes alterations and additions.
(c) Excludes revolving credit.

AUGUST KEY POINTS

VALUE OF DWELLING COMMITMENTS

August 2014 compared with July 2014:

• The trend estimate for the total value of dwelling finance commitments excluding alterations and additions rose 0.3%. Investment housing commitments rose 0.9% while owner occupied housing commitments fell 0.1%.
• 
• 
• In seasonally adjusted terms, the total value of dwelling finance commitments excluding alterations and additions fell 1.2%.

NUMBER OF DWELLING COMMITMENTS

August 2014 compared with July 2014:

• In trend terms, the number of commitments for owner occupied housing finance fell 0.2% in August 2014.
• In trend terms, the number of commitments for the purchase of established dwellings fell 0.3% and the number of commitments for the construction of dwellings fell 0.2%, while the number of commitments for the purchase of new dwellings rose 1.7%.
• In original terms, the number of first home buyer commitments as a percentage of total owner occupied housing finance commitments fell to 11.8% in August 2014 from 12.2% in July 2014.
• 

Definitely looking toppy. Hit the bid, peeps. Leith returns Monday with much better charts!