Australian Bureau of Statistics (ABS) housing finance data released before noon indicates a relatively weak demand for housing.

The July 2010 ABS Housing Finance report shows “the total value of dwelling finance commitments excluding alterations and additions was flat (0.0 percent).” Aside from this, the report shows “investment housing commitments fell 0.5 percent, while owner occupied housing commitments rose 0.3 percent.”

The report shows a 0.7 percent increase in the total value of dwelling finance commitments excluding alterations and additions in seasonally adjusted terms.

Even the number of commitments for owner occupied housing was flat. A 3.0 percent fall can also be noted in the number of commitments for construction dwellings.

An area for rejoicing rests with the number of commitments for the purchase of new dwellings and the number of commitments for the purchase of established dwellings. The ABS data shows a 1.7 percent rise in the purchase of new dwellings and a 0.2 percent movement in the purchase of established dwellings.