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					Housing Finance For Owner Occupation — November 2010
                                                                                                                                                              AUSTRALIAN
                                                                                                                                                           CAPITAL TERRITORY

HOUSING FINANCE COMMITMENTS FOR OWNER OCCUPIERS UP
IN NOVEMBER 2010                                                                                          Housing Finance for Owner Occupation — All Series
                                                                                                                                                    % Change
                                                                                                          Nov-10
Main Features                                                                                                                        Level      Monthly     Annual (a)
                                                                                            ACT
In November 2010, the trend number of ACT housing finance commitments for                   Original
owner occupiers increased by 2%. Year-on-year to November 2010, ACT housing                 No. of commitments                           1,141           14.7%            -12.8%
finance commitments declined by 12.8%, in original terms.                                   Value of commitments ($'000)               308,359           14.7%             -9.5%
                                                                                            First Home Buyer Commitments                   145            9.0%            -44.2%
At the national level, growth in the trend number of housing finance                        Seasonally adjusted
commitments for owner occupiers increased by 1.1% in November 2010.                         No. of commitments                           1,027             3.7%           -13.0%
Year-on-year to November 2010, national housing finance commitments                         Value of commitments ($'000)               277,298             4.3%            -9.6%
decreased by 21%, in original terms.                                                        Trend
                                                                                            No. of commitments                           1,000             2.0%           -12.5%
Commentary                                                                                  Value of commitments ($'000)               273,535             1.5%            -9.1%
The trend number of housing finance commitments for owner occupation increased in
the ACT in November 2010 by 2% to 1,000. The number of commitments is around                Australia
11.3% higher than the 5-year monthly average.                                               Original
                                                                                            No. of commitments                           53,933          13.1%            -21.0%
The number of housing finance commitments for owner occupiers in the ACT recorded           Value of commitments ($'000)             15,495,263          13.3%            -15.0%
a decline of 12.8% year-on-year to November 2010 in original terms, while nationally        First Home Buyer Commitments                  8,435          14.7%            -48.4%
there was a decline of 21%.                                                                 Seasonally adjusted
                                                                                            No. of commitments                           50,526            2.5%           -21.1%
During November 2010, in original terms, the number of housing finance commitments          Value of commitments ($'000)             14,465,078            2.9%           -15.0%
for the purchase of established dwellings in the ACT increased from 852 in                  Trend
October 2010 to 958 in November. The number of established dwellings being                  No. of commitments                           49,691            1.1%          -20.5%
refinanced in the ACT increased from 255 in October 2010 to 276 in November, the            Value of commitments ($'000)             14,201,689            1.1%          -14.6%
number of housing finance commitments for the purchase of new dwellings increased           Source: ABS Cat. no. 5609.0                                        (a) Year-on-year
from 59 to 72 in November 2010 and the number of housing finance commitments for
construction of dwellings also increased from 84 to 111 in November 2010.
                                                                                                              NO. OF FINANCE COMMITMENTS ACT & AUST
                                                                                                                   (Seasonally adjusted and trend data)
In November 2010, the average loan size in the ACT in original terms remained
                                                                                                                     Aust. Trend           Aust. Seas. Adj.
unchanged at $270,300. This remains lower than the national average, which increased                                 ACT Trend             ACT Seas. Adj.
from $286,700 in October 2010 to $287,300 in November.                                           90,000                                                             1,800


In original terms, the number of first home buyer housing finance commitments in the
ACT increased from 133 in October 2010 to 145 in November. Year-on-year to
                                                                                          AUST




                                                                                                                                                                            ACT
November 2010, the number of first home buyer commitments in the ACT declined by                 55,000                                                             1,100
44.2% to 1,656. Note: care should be taken when interpreting original data from one
month to the next due to volatility.

                                                                                                 20,000                                                             400
First home buyer housing finance commitments in the ACT accounted for 12.7% of all
                                                                                                     Nov-05      Nov-06     Nov-07    Nov-08      Nov-09       Nov-10
housing finance commitments in November 2010, down from 17% in
November 2009. For the year ending November 2010, first home buyer housing finance          Source: ABS Cat. no. 5609.0
commitments accounted for 14.4% of all housing finance commitments, down from
22.5% recorded for the year ending November 2009.                                                                      Housing Finance Commitments
                                                                                                            State/Territory Comparisons (Trend, Monthly data)
State/Territory Comparisons
                                                                                                          Nov-10                  Number of               % Change
In November 2010, all jurisdictions, except the Northern Territory (down 2%), recorded
                                                                                            State/Territory                    commitments(a)      Monthly(a)      Annual (b)
an increase in the trend number of housing finance commitments for owner occupation.
                                                                                            New South Wales                             15,008           1.3%         -23.8%
The largest increase occurred in the ACT (up 2%), followed by New South Wales and
                                                                                            Victoria                                    13,390           0.8%         -10.2%
Western Australia (both up 1.3%).
                                                                                            Queensland                                   9,379           0.7%         -26.4%
                                                                                            South Australia                              3,785           0.4%         -27.6%
Year-on-year to November 2010, all jurisdictions recorded a decrease in the number of
                                                                                            Western Australia                            5,650           1.3%         -20.8%
housing finance commitments for owner occupation in original terms. South Australia
                                                                                            Tasmania                                        891          0.2%         -27.1%
(down 27.6%) recorded the largest decline, followed by Tasmania (down 27.1%) and
                                                                                            Northern Territory                              325         -2.0%         -26.3%
Queensland (down 26.4%). The ACT recorded the second smallest decrease of
                                                                                            Australian Capital Territory                 1,000           2.0%         -12.8%
12.8%.
                                                                                            Australia                                   49,691           1.1%         -21.0%
                                                                                            Source: ABS Cat. no. 5609.0 (a) Trend               (b) Year-on-year — Original
Definition and Explanatory Note
These statistics measure secured loans made by significant lenders for the construction
or purchase of newly erected dwellings, commitments for the refinancing of existing
                                                                                                  First Home Buyer Housing Finance Commitments - Original Series
loans, and loans taken out for the purchase of established dwellings.
                                                                                                         Nov-10                           Proportion of Total Commitments
                                                                                                                                  Number       Monthly           Annual
Starting from the December 2008 release, annual growth is measured using the
                                                                                            ACT                                       145         12.7%           14.4%
year-on-year growth in original data instead of trend data. This approach
                                                                                            Australia                               8,435         15.6%           17.1%
maintains the quality of annual estimates as this avoids smoothing the data too
                                                                                            Source: ABS Cat. no. 5609.0
much as a result of 'averaging an average'. This is because the most recent
trend estimates comprise a proportion of observations from several preceding months.




ACT Department of Treasury, Economics Branch                                                Publication Release Date:                                  January 12, 2011
Contact Officer: Dinesh Kumar (6207 0236)                                                   Brief Release Date:                                        January 12, 2011
                                                                                            Next Brief Release Date:                                   February 14, 2011

				
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