5609.0 - Housing Finance, Australia, Dec 2012 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 11/02/2013   
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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 0.4% in December 2012 compared with November 2012, while the seasonally adjusted series fell 2.6% in December 2012.

The total value of owner occupied housing commitments (trend) fell ($19m, 0.1%) in December 2012, after being flat in November 2012. Falls were recorded in commitments for the purchase of established dwellings (down $22m, 0.2%) and commitments for the construction of dwellings (down $3m, 0.2%), while commitments for the purchase of new dwellings rose (up $5m, 0.6%). The seasonally adjusted series for the total value of owner occupied housing commitments fell 2.7% in December 2012.

The total value of investment housing commitments (trend) rose ($98m, 1.3%) in December 2012 compared with November 2012. Rises were recorded in commitments for the purchase of dwellings by individuals for rent or resale (up $50m, 0.8%), commitments for the purchase of dwellings by others for rent or resale (up $44m, 5.8%) and commitments for the construction of dwellings for rent or resale (up $4m, 1.0%). The value of investment housing commitments seasonally adjusted fell 2.4% in December 2012.

INVESTMENT HOUSING - TOTAL
Graph: INVESTMENT HOUSING - TOTAL



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

The number of owner occupied housing commitments (trend) fell (67, 0.1%) in December 2012, after being flat in November. Falls were recorded in commitments for the construction of dwellings (down 54, 1.1%) and commitments for the refinancing of established dwellings (down 52, 0.3%), while rises were recorded in commitments for the purchase of established dwellings excluding refinancing (up 31, 0.1%) and commitments for the purchase of new dwellings (up 10, 0.4%). The seasonally adjusted estimate for the total number of owner occupied housing commitments fell (696, 1.5%) in December 2012.

Graph: Number of Owner Occupied Dwellings Financed


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

Between December 2012 and November 2012, the number of owner occupied housing commitments (trend) fell in New South Wales (down 146, 1.1%), South Australia (down 22, 0.7%), Tasmania (down 5, 0.7%) and the Northern Territory (down 1, 0.4%), while rises were recorded in Victoria (up 27, 0.2%) and Queensland (up 24, 0.3%). The Australian Capital Territory and Western Australia were both flat. The seasonally adjusted estimates fell in New South Wales (down 407, 3.2%), Western Australia (down 129, 1.9%), Queensland (down 73, 0.8%), the Northern Territory (down 43, 11.2%) and the Australian Capital Territory (down 36, 4.8%), while rises were recorded in Victoria (up 42, 0.3%) and South Australia (up 32, 1.1%). Tasmania was flat.


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 14.9% in December 2012 from 15.8% in November 2012. Between December 2012 and November 2012, the average loan size for first home buyers rose $6,100 to $293,900. The average loan size for all owner occupied housing commitments rose $1,500 to $308,300 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) was flat in December 2012, after a rise of 0.2% in November 2012. The seasonally adjusted series fell 0.1% in December 2012, following a fall of 1.3% in November 2012.

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) fell 1.1% in December 2012, following a fall of 1.2% in November 2012. This is the sixth consecutive fall in this series. The seasonally adjusted series rose 1.2% in December 2012, after a fall of 1.4% in November 2012.

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 0.4% in December 2012, following a rise of 1.5% in November 2012. This is the tenth consecutive rise in this series. The seasonally adjusted series rose 1.9% in December 2012, after a fall of 10.9% in November 2012.

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) fell 0.1% in December 2012, after a rise of 0.1% in November 2012. The seasonally adjusted series fell 2.1% in December 2012, after a rise of 0.1% in November 2012.

Graph: Purchase of established dwellings including refinancing


Refinancing (Tables 1 & 2)

The number of refinancing commitments for owner occupied housing (trend) fell 0.3% in December 2012, following a fall of 0.4% in November 2012. The seasonally adjusted series fell 4.3% in December 2012, after a rise of 0.6% in November 2012.

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 December 2012, after a rise of 0.1% in November 2012. The seasonally adjusted series fell 1.2% in December 2012, following a fall of 0.6% in November 2012.

Graph: Banks


Non-banks (Tables 3 & 4)

The number of commitments for owner occupied dwellings financed by non-banks (trend) fell 1.0% in December 2012, following a fall of 1.0% in November 2012. The seasonally adjusted series fell 5.1% in December 2012, following a fall of 1.2% in November 2012. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) fell 2.4% in December 2012. The seasonally adjusted series fell 7.3% in December 2012, after a rise of 8.1% in November 2012.

Graph: Non-banks


HOUSING LOAN OUTSTANDINGS

(Table 12)

At the end of December 2012, the value of outstanding housing loans financed by authorised deposit-taking institutions (ADIs) was $1,186,121m, up $5,959m (0.5%) from the November 2012 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $3,955m (0.5%) to $801,460m and investment housing loan outstandings financed by ADIs rose $2,004m (0.5%) to $384,661m.

Bank housing loan outstandings rose $6,911m (0.6%) during December 2012 to reach a closing balance of $1,136,469m. Owner occupied housing loan outstandings of banks rose $4,776m (0.6%) to $761,565m and investment housing loan outstandings of banks rose $2,135m (0.6%) to $374,904m.