Latest statistics confirm growth
The latest housing finance stats confirm that the market continues to grow in raw terms, though seasonally adjusted figures are yet to reflect the market vibe.
Released by the Australian Bureau of Statistics (ABS) on December 9, the raw stats for October 2009 showed the total value of dwelling finance commitments (excluding alterations and additions) increased 0.3 per cent, compared to the previous month. Investment housing commitments increased 0.4% and owner-occupied housing commitments rose 0.2%.
In seasonally adjusted terms, however, the total value of dwelling finance commitments (excluding alterations and additions) decreased 1.4%.
While in trend terms, the number of commitments for owner occupied housing finance remained flat, total commitments related to the construction of dwellings increased 3.9% and the number of commitments for the purchase of new dwellings rose 0.2%.
Earlier this month, the ABS confirmed that October saw the number of private sector house permit approvals rise for the tenth consecutive month. In seasonally adjusted terms, the number of private sector houses approved rose 5.0% compared to September 2009.
