5609.0 - Housing Finance, Australia, Aug 2013 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 14/10/2013   
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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 0.5% in August 2013 compared with July 2013, while the seasonally adjusted series fell 1.2% in August 2013.

The total value of owner occupied housing commitments (trend) rose ($59m, 0.4%) in August 2013. Rises were recorded in commitments for the purchase of established dwellings (up $54m, 0.4%), commitments for the construction of dwellings (up $4m, 0.3%) and commitments for the purchase of new dwellings (up $1m, 0.1%). The seasonally adjusted series for the total value of owner occupied housing commitments fell 1.9% in August 2013.

The total value of investment housing commitments (trend) rose ($69m, 0.8%) in August 2013 compared with July 2013. Rises were recorded in commitments for the purchase of dwellings by individuals for rent or resale (up $54m, 0.7%) and commitments for the construction of dwellings for rent or resale (up $17m, 3.6%), while a fall was recorded in commitments for the purchase of dwellings by others for rent or resale (down $2m, 0.3%). The value of investment housing commitments seasonally adjusted was flat in August 2013.

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 297, 0.6%) in August 2013, following a rise of 1.0% in July 2013. Rises were recorded in commitments for the refinancing of established dwellings (up 195, 1.2%), commitments for the purchase of established dwellings excluding refinancing (up 90, 0.3%), commitments for the purchase of new dwellings (up 9, 0.3%) and commitments for the construction of dwellings (up 3, 0.1%). The seasonally adjusted estimate for the total number of owner occupied housing commitments fell (down 2,015, 3.9%) in August 2013.

Graph: Number of Owner Occupied Dwellings Financed


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

Between August 2013 and July 2013, the number of owner occupied housing commitments (trend) rose in Victoria (up 146, 1.1%), New South Wales (up 51, 0.4%), Queensland (up 39, 0.4%), South Australia (up 24, 0.7%), Northern Territory (up 9, 2.3%), the Australian Capital Territory (up 9, 1.1%) and Tasmania (up 8, 1.1%), while a fall was recorded in Western Australia (down 22, 0.3%). The seasonally adjusted estimates fell in Queensland (down 426, 4.4%), Western Australia (down 406, 5.2%), New South Wales (down 347, 2.4%), Victoria (down 135, 1.0%), South Australia (down 88, 2.6%), Northern Territory (down 8, 2.1%) and Tasmania (down 3, 0.4%), while a rise was recorded in the Australian Capital Territory (up 9, 1.1%).


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 fell to 13.7% in August 2013 from 14.7% in July 2013. Between August 2013 and July 2013, the average loan size for first home buyers fell $1,300 to $286,000. The average loan size for all owner occupied housing commitments rose $100 to $299,800 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) rose 0.3% in August 2013, following a rise of 0.7% in July 2013. The seasonally adjusted series fell 5.3% in August 2013, after a rise of 2.4% in July 2013.

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 0.1% in August 2013, following a rise of 0.2% in July 2013. This is the ninth consecutive rise since December 2012. The seasonally adjusted series rose 2.2% in August 2013, after a fall of 1.8% in July 2013.

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) rose 0.3% in August 2013, following a rise of 0.7% in July 2013. This is the eighteenth consecutive rise since March 2012. The seasonally adjusted series fell 4.0% in August 2013, after a rise of 4.6% in July 2013.

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 0.7% in August 2013, following a rise of 1.1% in July 2013. This is the eighth consecutive rise since January 2013. The seasonally adjusted series fell 4.6% in August 2013, after a rise of 2.4% in July 2013.

Graph: Purchase of established dwellings including refinancing


Refinancing (Tables 1 & 2)

The number of refinancing commitments for owner occupied housing (trend) rose 1.2% in August 2013, following a rise of 1.6% in July 2013. The seasonally adjusted series fell 1.0% in August 2013, after a rise of 1.5% in July 2013.

Graph: Refinancing


TYPE OF LENDER (OWNER OCCUPATION)

Banks (Tables 3 & 4)

The number of commitments for owner occupied dwellings financed by banks (trend) rose 0.5% in August 2013, following a rise of 1.0% in July 2013. The seasonally adjusted series fell 4.1% in August 2013, after a rise of 1.4% in July 2013.

Graph: Banks


Non-banks (Tables 3 & 4)

The number of commitments for owner occupied dwellings financed by non-banks (trend) rose 1.3% in August 2013, following a rise of 1.4% in July 2013. The seasonally adjusted series fell 1.2% in August 2013, after a rise of 11.6% in July 2013. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) rose 0.1% in August 2013, following a rise of 0.6% in July 2013. The seasonally adjusted series rose 5.0% in August 2013, after a fall of 0.3% in July 2013.

Graph: Non-banks


HOUSING LOAN OUTSTANDINGS

(Table 12)

At the end of August 2013, the value of outstanding housing loans financed by authorised deposit-taking institutions (ADIs) was $1,234,832m, up $5,125m (0.4%) from the July 2013 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $2,848m (0.3%) to $831,732m and investment housing loan outstandings financed by ADIs rose $2,277m (0.6%) to $403,100m.

Bank housing loan outstandings rose $8,150m (0.7%) during August 2013 to reach a closing balance of $1,189,667m. Owner occupied housing loan outstandings of banks rose $5,249m (0.7%) to $795,334m and investment housing loan outstandings of banks rose $2,901m (0.7%) to $394,333m.