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REPEAT: MNI: Aus Investor Housing Loans Drop For 6 Straight Mo

MNI (London)
Repeats Story Initially Transmitted at 01:01 GMT Oct 12/21:01 EST Oct 11
--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
[TOPICS: MTABLE]
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com

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