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NOVEMBER KEY FIGURES

	Trend estimates			Seasonally adjusted estimates
	Nov 2007	Oct 2007 to Nov 2007		Nov 2007	Oct 2007 to Nov 2007
Value of dwelling commitments(a)	$m	% change		$m	% change
Total dwellings	22 108	-0.3		22 295	0.5
Owner occupied housing	15 363	0.3		15 556	2.0
Investment housing - fixed loans(b)	6 744	-1.8		6 739	-2.8
Number of dwelling commitments(a)	no.	% change		no.	% change
Owner occupied housing	64 201	0.2		65 831	4.0
Construction of dwellings	4 801	0.9		4 808	-
Purchase of new dwellings	2 662	-3.5		2 503	-7.3
Purchase of established dwellings	56 738	0.3		58 520	4.9
- nil or rounded to zero (including null cells)
(a) Includes refinancing.
(b) Excludes revolving credit.

Value of dwelling commitments, Total dwellings

Number of dwelling commitments, Owner occupied housing

NOVEMBER KEY POINTS


VALUE OF DWELLING COMMITMENTS

NOVEMBER 2007 COMPARED WITH OCTOBER 2007:

• In trend terms, total value of dwelling finance commitments excluding alterations and additions decreased by 0.3%. Owner occupied housing commitments increased by 0.3% while investment housing commitments continue to fall, decreasing 1.8%.
• In seasonally adjusted terms, total value of dwelling finance commitments excluding alterations and additions increased 0.5%. Owner occupied housing commitments increased 2.0%, while investment housing commitments decreased 2.8%.

• In trend terms, the number of commitments for refinancing of established dwellings rose 0.7% while the seasonally adjusted series increased 10.6%.
• In seasonally adjusted terms, the number of commitments for owner occupied housing finance increased by 4.0% and the number excluding refinancing rose by 1.5%.
• In original terms, the number of first home buyer commitments as a percentage of total owner occupied housing finance commitments decreased from 18.7% in October 2007 to 18.3% in November 2007.
• In original terms, the number of fixed rate loan commitments as a percentage of total owner occupied housing finance commitments increased from 21.0% in October 2007 to 24.0% in November 2007.

As foreshadowed in the October 2007 release, data in this publication has undergone the annual seasonal reanalysis review, resulting in improvements in the quality of some series.

Recently, the ABS implemented improved methods of producing seasonally adjusted estimates, focused on the application of autoregressive integrated moving average (ARIMA) modelling techniques. The revision properties of the seasonally adjusted and trend estimates can be improved by the use of ARIMA modelling. ARIMA modelling relies on the characteristics of the series being analysed to project future period data. The projected values are temporary, intermediate values, that are only used internally to improve the estimation of the seasonal factors. The projected data do not affect the original estimates and are discarded at the end of the seasonal adjustment process.

INQUIRIES

For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Michael Abbondante on Canberra (02) 6252 6707.