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DECEMBER KEY FIGURES

	Trend estimates		Seasonally adjusted estimates
	Dec 2008	Nov 2008 to Dec 2008	Dec 2008	Nov 2008 to Dec 2008
Value of dwelling commitments(a)	$m	% change	$m	% change
Total dwellings	17 983	0.8	18 633	5.9
Owner occupied housing	12 897	1.7	13 506	7.1
Investment housing - fixed loans(b)	5 086	-1.3	5 127	2.9
Number of dwelling commitments(a)	no.	% change	no.	% change
Owner occupied housing	50 621	1.3	52 974	6.4
Construction of dwellings	4 041	1.1	4 285	9.9
Purchase of new dwellings	2 062	4.7	2 275	15.2
Purchase of established dwellings	44 518	1.1	46 413	5.6
(a) Includes refinancing.
(b) Excludes revolving credit.

Value of dwelling commitments, Total dwellings

No. of dwelling commitments, Owner occupied housing

• In trend terms, the total value of dwelling finance commitments excluding alterations and additions increased 0.8%. Owner occupied housing commitments increased 1.7%, while investment housing commitments decreased 1.3%.
• In seasonally adjusted terms, the total value of dwelling finance commitments excluding alterations and additions increased 5.9%. Owner occupied housing commitments increased 7.1%, while investment housing commitments increased 2.9%.

• In trend terms, the number of commitments for owner occupied housing finance increased 1.3%. The number of commitments for owner occupied housing finance excluding refinancing rose 1.6%.
• In trend terms, the number of commitments for the purchase of new dwellings increased 4.7%.
• In original terms, the number of first home buyer commitments as a percentage of total owner occupied housing finance commitments increased from 23.6% in November 2008 to 25.4% in December 2008, the highest proportion since December 2001.
• In original terms, the number of fixed rate loan commitments as a percentage of total owner occupied housing finance commitments decreased from 2.5% in November 2008 to 1.9% in December 2008.