AUGUST KEY FIGURES

	Trend estimates		Seasonally adjusted estimates
	Aug 2011	Jul 2011 to Aug 2011	Aug 2011	Jul 2011 to Aug 2011
Value of dwelling commitments(a)(b)	$m	% change	$m	% change
Total dwellings	20 820	1.1	20 848	1.0
Owner occupied housing	14 554	1.3	14 513	0.6
Investment housing - fixed loans(c)	6 266	0.6	6 335	1.8
Number of dwelling commitments(a)(b)	no.	% change	no.	% change
Owner occupied housing	50 944	1.6	50 965	1.2
Construction of dwellings	4 821	0.5	4 800	0.8
Purchase of new dwellings	2 198	2.5	2 226	6.0
Purchase of established dwellings	43 925	1.7	43 938	1.0
(a) Includes refinancing (see Glossary).
(b) Excludes alterations and additions.
(c) Excludes revolving credit.

Value of dwelling commitments, Total dwellings

No. of dwelling commitments, Owner occupied housing

AUGUST KEY POINTS


VALUE OF DWELLING COMMITMENTS

August 2011 compared with July 2011:

• The trend estimate for the total value of dwelling finance commitments excluding alterations and additions rose 1.1%. Owner occupied housing commitments rose 1.3% driven by refinancing across institutions and investment housing commitments rose 0.6%.
• In seasonally adjusted terms, the total value of dwelling finance commitments excluding alterations and additions rose 1.0%.

NUMBER OF DWELLING COMMITMENTS

August 2011 compared with July 2011:

• In trend terms, the number of commitments for owner occupied housing finance rose 1.6%.
• In trend terms, the number of commitments for the purchase of new dwellings rose 2.5%, the number of commitments for the purchase of established dwellings rose 1.7% and the number of commitments for the construction of dwellings rose 0.5%.
• In seasonally adjusted terms, the number of commitments for owner occupied housing finance rose 1.2%.
• In original terms, the number of first home buyer commitments as a percentage of total owner occupied housing finance commitments rose to 15.3% in August 2011 from 14.9% in July 2011.

NOTES

FORTHCOMING ISSUES

ISSUE	Release Date
September 2011	9 November 2011
October 2011	12 December 2011
November 2011	16 January 2012
December 2011	13 February 2012
January 2012	13 March 2012
February 2012	11 April 2012

IMPACT OF THE FLOODS

Flooding began in late December 2010 in Queensland, and was more extensive in both Queensland and other states in January 2011. On a month to month basis, original and seasonally adjusted series can be impacted by a number of factors including interest rates, supply constraints, consumer confidence and unusual influences. The specific impact of floods on these estimates can not be quantified.

The trend series provide an estimate of the underlying behaviour of a series over time but, in the short term, may be distorted by unusual influences impacting on the original and seasonally adjusted estimates. Trend series will be subject to revision in future issues as additional monthly original estimates become available. Users are advised to exercise caution when using the most recent trend estimates. For further information please refer to page 3 of the August 2009 issue of Australian Economic Indicators (cat. no. 1350.0).


REVISIONS

In this issue revisions have been made to the original series as a result of improved reporting of survey and administrative data. These revisions impact on:

• Owner occupied housing for the periods June 2011 and July 2011;
• Investment Housing for July 2011; and
• Housing loan outstanding to households series for the periods November 2009 to January 2010, March 2010, April 2010, June 2011 and July 2011.

Seasonally adjusted and trend series have been revised as a result of revisions to the original series, the incorporation of estimates for the latest month and the revision of seasonal factors due to the concurrent seasonal adjustment methodology.


INQUIRIES

For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Andriy Opryshko on Canberra (02) 6252 5223.