Housing finance for owner occupation October 2017
Number of housing finance commitments
| NT | AUST | |
|---|---|---|
| Change in the month (trend) | 0.7% | 0.3% |
| Year on year (original) | 8.1% | 0.5% |
In October 2017, the trend number of housing finance commitments for owner occupation in the Territory increased by 0.7 per cent to 297 (Chart 1). This was the second highest change in total commitments of all jurisdictions, which ranged from a decline of 0.4 per cent in Western Australia to a 1.3 per cent increase in Victoria. Nationally, the trend number of commitments increased by 0.3 per cent to 56 316.
The Australian Bureau of Statistics (ABS) does not report a breakdown of Territory housing finance data by type or purpose, in trend or seasonally adjusted terms.
In the year to October 2017, the total number of housing finance commitments (including refinancing) in the Territory decreased by 8.1 per cent to 3 579, driven by a decrease of 2.8 per cent for the purchase of established dwellings and a decrease of 28.0 per cent for the purchase of new dwellings, the second largest year on year decline of the jurisdictions behind Western Australia (down 10.4 per cent) (Chart 2).
Excluding refinancing, the number of housing finance commitments in the Territory decreased by 0.8 per cent to 2 748 in the year to October 2017. This was driven by a 9.0 per cent decline in non-first home buyers, partly offset by an increase of 35.2 per cent in first home buyers (Chart 3).
The value of total housing finance commitments (excluding refinancing) in the Territory decreased by 1.4 per cent in the year to October 2017.
Number of first home buyer commitments
| NT | AUST | |
|---|---|---|
| Change in the month (original) | 6.0% | 4.5% |
| Year on year (original) | 35.2% | 11.9% |
Caution should be used in interpreting monthly original data for commitments by first home buyers, as data can be highly volatile and influenced by seasonal factors.
In the year to October 2017, the number of commitments by first home buyers in the Territory decreased by 6.0 per cent to 692 (Chart 3). Nationally, the number of commitments by first home buyers increased by 4.5 per cent in the same period.
Number of non-first home buyer commitments (excluding refinancing)
| NT | AUST | |
|---|---|---|
| Change in the month (original) | flat | 3.1% |
| Year on year (original) | 9.0% | 2.4% |
The number of non-first home buyer commitments (excluding refinancing) in the Territory decreased by 9.0 per cent to 2 056 in the year to October 2017 (Chart 3). Nationally, the number of non-first home buyer commitments decreased by 2.4 per cent over the same period.
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