ABS releases Housing Finance data for March 2012

The Australian Bureau of Statistics recently released its Housing Finance data for March 2012, which showed that the total value of dwelling commitments for the month of March, excluding alterations and additions, fell 0.2 per cent (trend) compared with February 2012.    The seasonally adjusted series fell 0.5 per cent in March 2012. 

According to the ABS, the total value of owner occupied housing commitments (trend) fell 0.5 per cent in March, following a fall of 0.4 per cent in February 2012.  Falls were seen in commitments for the purchase of established dwellings (down 0.6 per cent) and commitments for the purchase of new dwellings (down 1.7 per cent), while commitments for the construction of dwellings rose (up 0.5 per cent).  March 2012 saw the seasonally adjusted series for the total value of owner occupied housing commitments fall 0.3 per cent. 

The total value of investment housing commitments (trend) also rose in March – by 0.4 per cent.  The seasonally adjusted series fell 1.0 per cent over the month. 

In terms of the number of owner occupied housing commitments (trend) seen between March 2012 and February 2012, on a state by state basis falls were seen in New South Wales (down 2.2 per cent), Tasmania (down 1.7 per cent), South Australia (down 0.1 per cent), and the Australian Capital Territory (down 0.2 per cent).  Meanwhile, rises were seen in Western Australia (up 1.8 per cent), Queensland (up 1.1 per cent), Victoria (up 0.4 per cent) and the Northern Territory (up 2.6 per cent). 

The seasonally adjusted number of owner occupied housing commitments saw increases in Western Australia (up 3.5 per cent), Queensland (up 2.0 per cent), the Northern Territory (up 23.0 per cent) and New South Wales (up 0.1 per cent), while falls were seen in Victoria (down 0.6 per cent), Tasmania (down 4.5 per cent), the Australian Capital Territory (down 2.6 per cent) and South Australia (down 0.4 per cent). 

For more information about this data, as well as advice regarding your property purchase plans, please feel free to stop by your local CENTURY 21 real estate office to speak to an experienced and informed professional. 

Posted by Charles Tarbey on 29/05/2012 at 10:30 AM | Categories:

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