Upward trends for the value and number of housing commitments nationwide remained steady in the final month of 2016, according to the latest information from the Australian Bureau of Statistics.

In its report released last week, the Bureau announced that the total value of dwelling finance commitments (not including additions and alterations) grew by 0.8% month-over-month in December, up to $33.2bn. Seasonally adjusted, the total value of these commitments rose by 0.4%, up to $33.4bn.

“Investment housing commitments rose 1.7%, and owner occupied housing commitments rose 0.2%,” the report said.

Meanwhile, the number of commitments for the purchase of new dwellings increased by 1.4% from November to December (up to 2,785). Seasonally adjusted, this metric saw a significant 3.2% rise month-over-month (up to 2,864).

In the same time frame, the number of commitments for the construction of dwellings grew by 0.2% (up to 5,637). However, these commitments suffered a -0.3% hit in volume when seasonally adjusted (down to 5,672).

The number of commitments for the purchase of established dwellings was 0.1% greater in December compared to the month before (up to 45,940). Seasonally adjusted, these commitments increased by 0.3% (up to 46,375).

Nationwide, the number of commitments for owner occupied housing finance grew by 0.1% month-over-month in December (up to 54,362).

“In original terms, the number of first home buyer commitments as a percentage of total owner occupied housing finance commitments remained at 13.8% in December 2016,” the report said. “The number of first home buyer commitments fell by 7.1% to 7,690 in December from 8,281 in November; the number of non-first home buyer commitments also fell.”


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