Turf QLD Industry Alert |ABS Housing Finance, Australia, Dec 2014
ABS Housing Finance, Australia, Dec 2014
Housing finance is an excellent indicator to residential and multiunit forward orders. This coupled with reductions in interest rates should be a positive for the turf production industry.
DECEMBER 2014 KEY FIGURES
Trend estimates | Seasonally adjusted estimates | |||
Dec 2014 | Nov 2014 to Dec 2014 | Dec 2014 | Nov 2014 to Dec 2014 | |
Value of dwelling commitments(a)(b) | ||||
$m | % change | $m | % change | |
Total dwellings | 30 012 | 1.0 | 30 604 | 4.7 |
Owner occupied housing | 17 689 | 0.9 | 18 043 | 3.8 |
Investment housing – fixed loans(c) | 12 323 | 1.2 | 12 561 | 6.0 |
Number of dwelling commitments(a)(b) | ||||
no. | % change | no. | % change | |
Owner occupied housing | 53 160 | 0.5 | 53 920 | 2.7 |
Construction of dwellings | 6 285 | 0.0 | 6 258 | 0.8 |
Purchase of new dwellings | 2 776 | -1.1 | 2 750 | -1.8 |
Purchase of established dwellings | 44 099 | 0.6 | 44 912 | 3.3 |
(a) Includes refinancing (see Glossary). |
(b) Excludes alterations and additions. |
(c) Excludes revolving credit. |
DECEMBER 2014 KEY POINTS
VALUE OF DWELLING COMMITMENTS
December 2014 compared with November 2014:
- The trend estimate for the total value of dwelling finance commitments excluding alterations and additions rose 1.0%. Investment housing commitments rose 1.2% and owner occupied housing commitments rose 0.9%.
- In seasonally adjusted terms, the total value of dwelling finance commitments excluding alterations and additions rose 4.7%.
NUMBER OF DWELLING COMMITMENTS
December 2014 compared with November 2014:
- In trend terms, the number of commitments for owner occupied housing finance rose 0.5% in December 2014.
- In trend terms, the number of commitments for the purchase of established dwellings rose 0.6%, while the number of commitments for the purchase of new dwellings fell 1.1% and the number of commitments for the construction of dwellings was flat.
- In original terms, the number of first home buyer commitments as a percentage of total owner occupied housing finance commitments fell to 14.5% in December 2014 from 14.6% in November 2014.
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