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MAY KEY FIGURES

	Trend estimates		Seasonally adjusted estimates
	May 2008	Apr 2008 to May 2008	May 2008	Apr 2008 to May 2008
Value of dwelling commitments(a)	$m	% change	$m	% change
Total dwellings	18 809	-3.6	18 141	-6.1
Owner occupied housing	13 076	-3.7	12 581	-5.7
Investment housing - fixed loans(b)	5 733	-3.4	5 560	-6.8
Number of dwelling commitments(a)	no.	% change	no.	% change
Owner occupied housing	54 738	-4.2	52 006	-7.9
Construction of dwellings	4 495	-1.3	4 367	-5.0
Purchase of new dwellings	1 792	-5.0	1 667	-13.5
Purchase of established dwellings	48 451	-4.5	45 972	-8.0
(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 3.6%. Owner occupied housing commitments decreased 3.7% and investment housing commitments decreased by 3.4%.
• In seasonally adjusted terms, the total value of dwelling finance commitments excluding alterations and additions decreased 6.1%. Investment housing commitments decreased 6.8% and owner occupied housing commitments decreased 5.7%.

• In trend terms, the number of commitments for owner occupied housing finance decreased 4.2%. The number of commitments for owner occupied housing finance excluding refinancing fell 4.4%.
• In trend terms, the total number of commitments for purchase of established dwellings fell 4.5% and the seasonally adjusted series decreased 8.0%.
• In original terms, the number of first home buyer commitments as a percentage of total owner occupied housing finance commitments increased from 16.9% in April 2008 to 17.3% in May 2008.
• In original terms, the number of fixed rate loan commitments as a percentage of total owner occupied housing finance commitments decreased from 17.5% in April 2008 to 13.0% in May 2008.