REPEAT: MNI: Australia Loan Data Confirm Slowing Hsg Mkt

Repeats Story Initially Transmitted at 01:04 GMT Mar 13/21:04 EST Mar 12

By Sophia Rodrigues

     SYDNEY (MNI) - The number of loans for owner-occupied housing fell in

January for the second straight month, leading to acceleration in fall in the

trend rate and confirming slowdown in housing market conditions.

     Data published by the Australian Bureau of Statistics Tuesday showed the

number of loans for owner-occupied housing fell 1.1% m/m in December, following

a 2.3% fall in December. This was the fourth month of fall in the last five.

     In trend terms, the number of loans fell 0.7% m/m in January, declining for

four months in a row with the latest drop accelerating from -0.6% in December.

     In value terms, total loan growth rebounded partly from a 1.7% m/m fall in

December as loans for both investment and owner-occupier housing rose.

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

Statistics on Tuesday:

                                                 January                December

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

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

                                               adjusted)               adjusted)

Number of Owner-Occupied Dwelling

Commitments                                         -1.1      -2.3 (no revision)

MNI Median Consensus                                -1.0

-Construction of Dwellings                          +3.1                    -0.9

-Purchase of New Dwellings                          -4.7                    -5.4

-Purchase of Established

Dwellings                                           -1.5                    -2.3

Value of Dwelling Commitments                       +0.7                    -1.7

-Owner occupied housing                             +0.5                    -1.1

-Investment housing                                 +1.1                    -2.9

--MNI Sydney Bureau; tel: +61 2-9716-5467; email: sophia.rodrigues@marketnews.com

[TOPICS: MTABLE]