In November 2011, the number of owner occupied housing commitments in the ACT increased in trend terms, to 807, an increase of 0.1% from the previous month (806). However, the number of commitments decreased by 6.5%, from 863 in November 2010.
The value of commitments (Owner occupation) decreased by 0.5% to $246 million, in trend terms, from the previous month and by 2.8% from November 2010.
In seasonally adjusted terms, the number of commitments (Owner occupation) increased by 4.4% (to 828) from 793 in October 2011, while the value of commitments (Owner occupation) grew by 0.4% (up from $247 million to $248 million) over the same period.
Housing finance commitments are the monetary commitments made by significant lenders towards the construction or purchase of housing. This includes new commitments as well as the outstanding values of housing loan assets to individuals (owner-occupiers and investors) held by lenders at the end of each reference month. Significant lenders include Banks, Building Societies, Credit Unions, Life or General Insurance companies, Superannuation Funds and other financial institutions. Housing finance data are primarily collected via returns submitted to the Australian Prudential Regulation Authority (APRA). For more information about the collection of housing finance statistics, refer to the Explanatory Notes of Housing Finance, Australia (cat. no. 5609.0).
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