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Dwelling Commitments Increase Slightly in February

By Matt Hurlston

Owner occupied dwelling commitments saw a 0.2 per cent month-on-month rise in February, according to an April 9 release from the Australian Bureau of Statistics (ABS).

However, first home buyer finance as a proportion of total commitments dropped over the same period in original terms, from 13.2 per cent in January to 12.5 per cent in February.

Existing homeowners in Melbourne looking to refinance their existing home and make a move to a family-friendly suburb may consider Carnegie or Malvern East real estate.

Boost in commitments

Dwelling finance commitments excluding additions and alterations increased in value by 1 per cent, month-on-month in trend terms. In seasonally adjusted terms, the increase in value was 2.9 per cent.

Over the same period, investment housing commitment values grew by 1.1 per cent in trend terms, while the figure for owner-occupied housing commitment values was slightly behind this (0.9 per cent).

The figures show that those with existing capital – whether homeowners or investors – have more to work with when it comes to edging in on the property market, whether it's real estate in Carnegie or elsewhere in Melbourne or Australia.

For help with selling or buying, consult with experienced Selling Principal Matt Hurlston at Ray White Carnegie.

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