MNI: Australia Investor Housing Loans Drop For 6 Straight Mth

--Owner-Occupier Housing Loans Dn In Aug, Trend Negative For 11 Months

     SYDNEY (MNI) - The number of owner-occupier home loans fell in August and

investment housing loans dropped for the fifth straight month, indicating

investors continue to shy away from housing investment amid tighter lending

conditions and weaker housing prices.

     Data published by the Australian Bureau of Statistics Friday showed the

number of owner-occupier mortgages fell 2.1% m/m in August, following a 0.4%

gain in July.

     In value terms, owner-occupier mortgages also fell 2.1% m/m in August, also

falling after a 0.4% gain the month before.

     Investment housing loans, however, fell 1.1% m/m, dropping for the sixth

straight month. 

     From Housing Finance data for July published by the Australian Bureau of

Statistics on Friday:

                                                  August                    July

--------------------------------------------------------------------------------

                                      (M/M %, seasonally      (M/M %, seasonally

                                               adjusted)               adjusted)

Number of Owner-Occupied Dwelling

Commitments                                         -2.1                    +0.4

MNI Median Consensus

-Construction of Dwellings                          -6.2                    +0.6

-Purchase of New Dwellings                          +0.3                    -2.2

-Purchase of Established

Dwellings                                           -1.8                    +0.6

Value of Dwelling Commitments                       -2.1                    +0.4

-Owner occupied housing                             -2.7                    +1.3

-Investment housing                                 -1.1                    -1.3

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