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1301.0 - Year Book Australia, 2002  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 25/01/2002   
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Contents >> Housing >> Housing finance for owner occupation

Secured housing finance commitments to owner occupiers are shown in table 8.20, split by purpose and type of lender.

There were 555,006 lending commitments (totalling $75b) made by all lenders in 2000-01. The number of commitments in 2000-01 increased by 5,868 (or 10.7%) on the previous year, mainly due to strength in the June quarter (in which there were 157,809 commitments to lend). The value of all commitments over the year was down slightly (by $356m or 0.5%) on 1999-2000. The average borrowing size fell from $136,500 in 1999-2000 to $134,400 in 2000-01, due to a slump in the average size of borrowing in the September and December quarters. The average size of borrowing strengthened considerably into 2001.

Commitments for construction of dwellings fell to 52,987 in 2000-01 (down 30.0% on the previous year), although a recovery had commenced by the June quarter. Commitments for the purchase of newly erected dwellings fell more moderately, down 4.5% to 17,697. The number of commitments for the purchase of established dwellings (including refinancing) increased by 6.5% to 484,322.

The average size of commitments by banks fell for the year, down 2.7% to $135,400, in contrast to permanent building societies (up 2.5% to $119,400) and other lenders (up 5.9% to $133,400).


8.20 SECURED HOUSING FINANCE COMMITMENTS(a), By Purpose and Type of Lender(b)

Type of lender
Units
Banks
Permanent
building
societies
Other
lenders(c)
Total

CONSTRUCTION OF DWELLINGS

Dwelling units -
1997-98
no.
63,325
3,732
7,160
74,217
1998-99
no.
62,464
3,787
7,238
73,489
1999-00
no.
65,673
3,276
6,733
75,682
2000-01
no.
44,127
2,755
6,105
52,987
Value of commitments -
1997-98
$m
7,015
487
879
8,380
1998-99
$m
7,935
520
901
9,356
1999-00
$m
9,293
474
849
10,617
2000-01
$m
6,088
412
893
7,394

PURCHASE OF NEWLY ERECTED DWELLINGS

Dwelling units -
1997-98
no.
18,889
227
4,154
23,270
1998-99
no.
17,903
282
1,963
20,148
1999-00
no.
17,313
300
920
18,533
2000-01
no.
14,656
475
2,566
17,697
Value of commitments -
1997-98
$m
2,402
28
477
2,907
1998-99
$m
2,482
37
282
2,802
1999-00
$m
2,666
48
127
2,841
2000-01
$m
2,322
55
361
2,738

PURCHASE OF ESTABLISHED DWELLINGS(d)

Dwelling units -
1997-98
no.
309,033
15,770
59,883
384,686
1998-99
no.
323,840
14,917
55,779
394,536
1999-00
no.
368,814
16,563
69,546
454,923
2000-01
no.
379,236
19,479
85,607
484,322
Value of commitments -
1997-98
$m
34,883
1,618
6,874
43,375
1998-99
$m
41,089
1,677
6,577
49,342
1999-00
$m
50,919
1,825
8,750
61,495
2000-01
$m
50,893
2,244
11,327
64,465

TOTAL

Dwelling units -
1997-98
no.
391,247
19,729
71,197
482,173
1998-99
no.
404,207
18,986
64,980
488,173
1999-00
no.
451,800
20,139
77,199
549,138
2000-01
no.
438,019
22,709
94,278
555,006
Value of commitments -
1997-98
$m
44,300
2,133
8,230
54,662
1998-99
$m
51,506
2,234
7,760
61,500
1999-00
$m
62,878
2,347
9,726
74,953
2000-01
$m
59,303
2,711
12,581
74,597

(a) Excludes alterations and additions.
(b) Caution should be exercised in using these statistics to calculate market share because, while all banks and permanent building societies are selected, only a sample of other lenders are selected.
(c) Includes wholesale lenders n.e.c.
(d) Includes refinancing.

Source: ABS data available on request, Survey of Housing Finance for Owner Occupation.

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