Australian Home Loans up by 2.3%

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Wednesday, Jan 17 2018

Australian Home Loans up by 2.3%

The total value of dwelling commitments excluding alterations and additions (trend) was flat in November 2017 compared with October 2017, while the seasonally adjusted series rose 2.3% in November 2017. The total value of owner occupied housing commitments (trend) rose (up $14m, 0.1%) in November 2017. Rises were recorded in commitments for the purchase of new dwellings (up $3m, 0.2%) and commitments for the purchase of established dwellings (up $29m, 0.2%) while a fall was recorded in commitments for the construction of dwellings (down $18m, 0.9%). The seasonally adjusted series for the total value of owner occupied housing commitments rose 2.7% in November 2017.

The total value of investment housing commitments (trend) fell (down $31m, 0.3%) in November 2017 compared with October 2017. Falls were recorded in commitments for the purchase of dwellings by individuals for rent or resale (down $75m, 0.8%) and commitments for the purchase of dwellings by others for rent or resale (down $22m, 2.3%), while a rise was recorded in commitments for the construction of dwellings for rent or resale (up $66m, 5.4%). The seasonally adjusted series for the total value of investment housing commitments rose 1.5% in November 2017.

More in this category: « Empire State Manufacturing Index declined to 17.7 Eurozone inflation at 1.4% »

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