The total number of owner occupied housing commitments in Australia decreased in May, after rebounding in the previous month, figures from the Australian Bureau of Statistics showed Monday.
Total number of owner occupied dwelling commitments dropped 1.0 percent month-over-month in May, reversing a 1.4 percent rise in April. Economists had expected a 2.0 percent fall for the month.
The value of owner occupied housing commitments, excluding alternations and addition, fell 0.6 percent over the month, following a 0.2 percent decrease a month ago.
At the same time, the total value of investment housing commitments grew notably by 3.9 percent in May.
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