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Housing Finance Commitments Rise by 24% in WA; To February 2012 Finance commitments increased by 24%. Up 6.2% in the 3 months to February
Topic Started: 19 Apr 2012, 11:51 PM (349 Views)
Mike
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http://www.treasury.wa.gov.au/cms/uploadedFiles/_Treasury/Economic_Data/housing_finance_feb2012.pdf?n=9938

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Analysis
Seasonally adjusted housing finance commitments in Western Australia rose by 0.8% in February 2012 (Chart 1), after increasing 3.8% in January, with monthly data volatile.
Over the year to February, housing finance commitments rose by 24.0%.
In trend terms, the number of housing finance commitments in the State increased by 1.4% in February and by 19.8% over the year (Chart 2). In original terms, housing finance commitments excluding refinancing increased by 9.5% in February and were up
16.2% compared to a year earlier. In original terms, housing finance commitments for
construction plus newly erected homes increased by 14.1% in February and were up 21.4% compared to a year earlier.

Key Facts

Seasonally Adjusted

Seasonally adjusted housing finance commitments in Western Australia increased by 0.8% to 6,643 between January and February. Commitments rose by 24.0% over the year and grew by 6.2% over the three months to February 2012. Australia's seasonally adjusted commitments
fell by 2.5% to 46,322 between January and February. Commitments grew by 9.8% over the 12 months and decreased by 2.3% in the three months ending in February.
Over the year to February, the largest increase in commitments by State was 24.0%, in Western Australia. The largest decrease was 3.7%, in Tasmania.

Trend

Trend housing finance commitments in Western Australia increased by 1.4% between January and February. Commitments rose by 19.8% over the year and grew by 5.1% over the three months to February 2012. Australia's trend commitments was unchanged at between January and February. Commitments grew by 10.4% over the 12 months and increased by 0.7% in the three months ending in February. Over the year to February, the largest increase in trend commitments by State was 19.8%, in Western Australia. The largest decrease was 5.2%, in Tasmania.
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