The trend estimate for the total value of dwelling finance commitments excluding alterations and additions fell 0.7%. Owner occupied housing commitments fell 0.2% and investment housing commitments fell 1.9%.

In seasonally adjusted terms, the total value of dwelling finance commitments excluding alterations and additions rose 0.5%.

May 2018 compared with April 2018:

• In trend terms, the number of commitments for owner occupied housing finance fell 0.7% in May 2018.

• In trend terms, the number of commitments for the construction of dwellings fell 1.5%, the number of commitments for the purchase of new dwellings fell 0.9% and the number of commitments for the purchase of established dwellings fell 0.6%.

• In original terms, the number of first home buyer commitments as a percentage of total owner occupied housing finance commitments was unchanged at 17.6% in May 2018.