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NOVEMBER KEY FIGURES

	Trend estimates		Seasonally adjusted estimates
	Nov 2008	Oct 2008 to Nov 2008	Nov 2008	Oct 2008 to Nov 2008
Value of dwelling commitments(a)	$m	% change	$m	% change
Total dwellings	17 417	-0.1	17 491	-0.9
Owner occupied housing	12 237	0.4	12 460	1.4
Investment housing - fixed loans(b)	5 180	-1.2	5 032	-6.1
Number of dwelling commitments(a)	no.	% change	no.	% change
Owner occupied housing	48 271	0.0	49 192	1.3
Construction of dwellings	3 823	-0.8	3 854	-0.3
Purchase of new dwellings	1 843	3.0	1 971	9.8
Purchase of established dwellings	42 605	-0.1	43 367	1.1
(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 decreased 0.1%. Investment housing commitments decreased 1.2%, while owner occupied housing commitments increased 0.4%.
• In seasonally adjusted terms, the total value of dwelling finance commitments excluding alterations and additions decreased 0.9%. Investment housing commitments decreased 6.1%, while owner occupied housing commitments increased 1.4%.

• In trend terms, the number of commitments for owner occupied housing finance remained unchanged. The number of commitments for owner occupied housing finance excluding refinancing rose 0.5%.
• In original terms, the number of first home buyer commitments as a percentage of total owner occupied housing finance commitments increased from 19.5% in October 2008 to 23.6% in November 2008, the highest proportion since January 2002.
• In original terms, the number of fixed rate loan commitments as a percentage of total owner occupied housing finance commitments decreased from 2.9% in October 2008 to 2.5% in November 2008.