ABS Update: Value and number of dwelling commitments continue to fall

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In November 2018, the total value of dwelling finance commitments (not including alterations and additions) fell 2.5% according to seasonally adjusted terms released by the ABS.

The total value of owner occupied housing commitments fell 1% in November. The trend was driven by falls in:

  • commitments for the purchase of established dwellings (down 0.9%)
  • commitments for the construction of dwellings (1.5%)
  • commitments for the purchase of new dwellings (down 1.4%)

In November 2018, the total value of investment housing commitments trends fell 1.5%, continuing an ongoing downward trend from November 2016.

By state, the trend of owner occupied housing commitments fell in New South Wales (down 1.5%), Victoria (down 0.4%) and Queensland (down 0.7%). On the other hand, the trend rose in Western Australia (up 1.3%), Victoria (up 0.7%), and the Northern Territory (up 22.4%).

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