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5609.0 - Housing Finance, Australia, May 2014 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 11/07/2014   
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SUMMARY OF FINDINGS


DWELLINGS FINANCED

Value of Dwellings Financed (Tables 11, 1 & 2)

The total value of dwelling commitments excluding alterations and additions (trend) rose 0.2%in May 2014 compared with April 2014, while the seasonally adjusted series fell 0.8% in May 2014.

The total value of owner occupied housing commitments (trend) rose (up $27m, 0.2%) in May 2014. Rises were recorded in commitments for the purchase of established dwellings (up $22m, 0.2%) and commitments for the construction of dwellings (up $10m, 0.6%), while commitments for the purchase of new dwellings fell (down $5m, 0.6%). The seasonally adjusted series for the total value of owner occupied housing commitments fell 0.7% in May 2014.

The total value of investment housing commitments (trend) rose ($36m, 0.3%) in May 2014 compared with April 2014. Rises were recorded in commitments for the purchase of dwellings by individuals for rent or resale (up $51m, 0.6%) and for the purchase of dwellings by others for rent or resale (up $10m, 1.0%), while commitments for the construction of dwellings for rent or resale fell (down $25m, 3.8%). The value of investment housing commitments seasonally adjusted fell 0.9% in May 2014.

INVESTMENT HOUSING - TOTAL
Graph: INVESTMENT HOUSING - TOTAL



Number of Owner Occupied Dwellings Financed (Tables 1 & 2)

The number of owner occupied housing commitments (trend) rose (up 51, 0.1%) in May 2014, following a rise of 0.1% in April 2014. Rises were recorded in commitments for the refinancing of established dwellings (up 150, 0.9%) and in commitments for the construction of dwellings (up 30, 0.5%), while falls were recorded in commitments for the purchase of established dwellings excluding refinancing (down 124, 0.5%) and commitments for the purchase of new dwellings (down 4, 0.2%). The seasonally adjusted estimate for the total number of owner occupied housing commitments was flat in May 2014.

Graph: Number of Owner Occupied Dwellings Financed


Number of Owner Occupied Dwellings Financed - State (Tables 5 & 6)

Between April 2014 and May 2014, the number of owner occupied housing commitments (trend) rose in Queensland (up 44, 0.4%), South Australia (up 22, 0.7%), Western Australia (up 14, 0.2%) and the Northern Territory (up 6, 1.5%), while falls were recorded in Victoria (down 12, 0.1%), New South Wales (down 10, 0.1%), the Australian Capital Territory (down 4, 0.5%) and Tasmania (down 3, 0.4%). The seasonally adjusted estimates rose in Queensland (up 326, 3.3%), New South Wales (up 192, 1.3%), South Australia (up 52, 1.5%), the Northern Territory (up 34, 9.6%), the Australian Capital Territory (up 22, 2.8%) and Western Australia (up 15, 0.2%), while falls were recorded in Victoria (down 153, 1.1%) and Tasmania (down 68, 7.6%).


First Home Buyer Commitments (Table 9)

In original terms, the number of first home buyer commitments as a percentage of total owner occupied housing finance commitments rose to 12.6% in May 2014 from 12.3% in April 2014. Between April 2014 and May 2014, the average loan size for first home buyers rose $2,800 to $303,800. The average loan size for all owner occupied housing commitments fell $3,500 to $320,000 for the same period.


Number of Owner Occupied Dwellings Financed Excluding Refinancing (Tables 1 & 2)

The number of owner occupied housing commitments excluding refinancing (trend) fell 0.3%in May 2014, following a fall of 0.2% in April 2014. The seasonally adjusted series fell 1.0% in May 2014, following a fall of 0.7% in April 2014.

Graph: Number of owner occupied dwellings financed excluding refinancing


PURPOSE OF FINANCE (OWNER OCCUPATION)

Construction of dwellings (Tables 1 & 2)

The number of finance commitments for the construction of dwellings for owner occupation (trend) rose 0.5% in May 2014, following a rise of 0.8% in April 2014. This is the eighteenth consecutive rise since December 2012. The seasonally adjusted series rose 0.9% in May 2014, after a fall of 1.3% in April 2014.

Graph: Construction of dwellings


Purchase of new dwellings (Tables 1 & 2)

The number of finance commitments for the purchase of new dwellings for owner occupation (trend) fell 0.2% in May 2014, following a fall of 0.7% in April 2014. The seasonally adjusted series rose 1.7% in May 2014, after a fall of 1.6% in April 2014.

Graph: Purchase of new dwellings


Purchase of established dwellings (including refinancing across lending institutions) (Tables 1 & 2)

The number of finance commitments for the purchase of established dwellings for owner occupation (trend) rose 0.1% in May 2014, following a rise of 0.1% April 2014. The seasonally adjusted series fell 0.2% in May 2014, after being flat in April 2014.

Graph: Purchase of established dwellings including refinancing


Refinancing (Tables 1 & 2)

The number of refinancing commitments for owner occupied housing (trend) rose 0.9% in May 2014, following a rise of 0.9% in April 2014. The seasonally adjusted series rose 2.1% in May 2014, following a rise of 0.8% in April 2014.

Graph: Refinancing


TYPE OF LENDER (OWNER OCCUPATION)

Banks (Tables 3 & 4)

The number of commitments for owner occupied dwellings financed by banks (trend) fell 0.1% in May 2014, following a fall of 0.1% in April 2014. The seasonally adjusted series fell 0.3% in May 2014, following a fall of 0.6% in April 2014.

Graph: Banks


Non-banks (Tables 3 & 4)

The number of commitments for owner occupied dwellings financed by non-banks (trend) rose 2.1% in May 2014, following a rise of 2.5% in April 2014. The seasonally adjusted series rose 4.0% in May 2014, following a rise of 4.3% in April 2014. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) fell 1.0% in May 2014, following a fall of 0.9% in April 2014. The seasonally adjusted series fell 7.7% in May 2014, following a fall of 1.3% in April 2014.

Graph: Non-banks


HOUSING LOAN OUTSTANDINGS

(Table 12)

At the end of May 2014, the value of outstanding housing loans financed by Authorised Deposit-taking Institutions (ADIs) was $1,301,160m, up $9,170m (0.7%) from the April 2014 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $4,999m (0.6%) to $861,528m and investment housing loan outstandings financed by ADIs rose $4,171m (1.0%) to $439,632m.

Bank housing loan outstandings rose $9,035m (0.7%) during May 2014 to reach a closing balance of $1,254,349m. Owner occupied housing loan outstandings of banks rose $4,884m (0.6%) to $823,865m and investment housing loan outstandings of banks rose $4,151m (1.0%) to $430,484m.


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Commonwealth of Australia 2014

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