Housing finance picked up in November, according to data released this week by the Australian Bureau of Statistics.
In seasonally adjusted terms, the number of commitments for owner occupied housing finance rose 1.4 per cent in November 2011.
In trend terms, the number of commitments for the purchase of established dwellings rose 0.8 per cent and the number of commitments for the purchase of new dwellings rose 0.5 per cent, while the number of commitments for the construction of dwellings fell 0.9 per cent.
In original terms, the number of first home buyer commitments as a percentage of total owner occupied housing finance commitments rose to 20.0 per cent in November 2011 from 19.1 per cent in October 2011.
The total value of dwelling commitments excluding alterations and additions (seasonally adjusted) rose 2.1 per cent in November 2011, with owner-occupied housing commitments up by 2.2 per cent.
In trend terms, a rise was recorded in the value of commitments for the purchase of established dwellings (up $50m, 0.4 per cent), while falls were recorded in the construction of dwellings (down $14m, 1.0 per cent) and the purchase of new dwellings (down $5m, 0.7 per cent).
The value of investment housing commitments seasonally adjusted rose 1.8 per cent in November 2011.
Source: Quartile Research, www.quartileresearch.com.au
