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5609.0 - Housing Finance, Australia, Jan 2010 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 10/03/2010   
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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) decreased 1.4% in January 2010 compared with December 2009, and the seasonally adjusted series decreased 3.3% in January 2010.

The total value of owner occupied housing commitments (trend) fell (down $371m, 2.4%) in January 2010, following a decrease of 2.5% in December 2009. Decreases were recorded in commitments for the purchase of established dwellings (down $342m, 2.6%), the purchase of new dwellings (down $19m, 2.6%) and the construction of dwellings (down $11m, 0.6%). The seasonally adjusted series for the value of owner occupied commitments fell 5.0% in January 2010.

The total value of investment housing commitments (trend) rose 1.0% (up $64m) in January 2010 compared with December 2009, following an increase of 1.1% in December 2009. Increases were recorded in commitments for the purchase of dwellings by individuals for rent or resale (up $53m, 1.0%) and commitments for the purchase of dwellings by others for rent or resale (up $15m, 2.4%). A decrease was recorded for commitments for the construction of dwellings for rent or resale (down $4m, 1.2%). The value of investment housing commitments seasonally adjusted rose 0.9% in January 2010.

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 (down 2,030, 3.6%) in January 2010 compared with December 2009. Decreases were recorded in commitments for the purchase of established dwellings excluding refinancing (down 1,400, 4.4%), the refinancing of established dwellings (down 443, 3.1%), the construction of dwellings (down 103, 1.4%) and the purchase of new dwellings (down 84, 3.5%). The seasonally adjusted estimate for the total number of owner occupied housing commitments fell 7.9% in January 2010.

Graph: Number of Owner Occupied Dwellings Financed


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

Between December and January 2010, the number of owner occupied housing commitments (trend) decreased in: New South Wales (down 686, 4.2%), Queensland (down 523, 4.6%), Victoria (down 325, 2.3%), South Australia (down 203, 4.4%), Western Australia (down 178, 2.5%), Tasmania (down 40, 3.8%) and the Northern Territory (down 13, 3.0%). The Australian Capital Territory remained flat. The seasonally adjusted estimates decreased in all states and territories except the Northern Territory (up 15, 3.7%).


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 decreased from 21.0% in December 2009 to 20.5% in January 2010. Between December and January 2010, the average loan size for first home buyers fell $5,400 to $284,700. The average loan size for all owner occupied housing commitments fell $200 to $282,800 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) fell 3.8% in January 2010 compared with December 2009, following a decrease of 3.9% in December 2009. The seasonally adjusted series fell 8.2% in January 2010.

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) decreased 1.4% in January 2010 compared with December 2009, following a decrease of 0.9% in December 2009. The seasonally adjusted series fell 3.9% in January 2010.

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) decreased 3.5% in January 2010 compared with December 2009, following a decrease of 3.5% in December 2009. The seasonally adjusted series fell 13.2% in January 2010.

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) decreased 4.0% in January 2010 compared with December 2009, following a decrease of 4.2% in December 2009. The seasonally adjusted series fell 8.2% in January 2010.

Graph: Purchase of established dwellings including refinancing


Refinancing (Tables 1 & 2)

The number of refinancing commitments for owner occupied housing (trend) decreased 3.1% in January 2010 compared with December 2009, following a decrease of 3.4% in December 2009. The seasonally adjusted series fell 7.2% in January 2010.

Graph: Refinancing


TYPE OF LENDER (OWNER OCCUPATION)

Banks (Tables 3 & 4)

The number of owner occupied dwellings financed by banks (trend) decreased 4.0% in January 2010 compared with December 2009, after a decrease of 4.1% in December 2009. The seasonally adjusted series fell 8.5% in January 2010.

Graph: Banks


Non-banks (Tables 3 & 4)

The number of owner occupied dwellings financed by non-banks (trend) fell 1.1% in January 2010 compared with December 2009, after a decrease of 1.1% in December 2009. The seasonally adjusted series for the number of owner occupied dwellings financed by non-banks decreased 3.8% in January 2010. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) decreased 5.5%. The seasonally adjusted series decreased 1.6%.

Graph: Non-banks


HOUSING LOAN OUTSTANDINGS

(Table 12)

At the end of January 2010, the value of outstanding housing loans financed by authorised deposit-taking institutions was $965,022m, up $7,269m (0.8%) from the December 2009 closing balance. Owner occupied housing loan outstandings financed by authorised deposit-taking institutions increased $5,285m (0.8%) to $675,978m and investment housing loans financed by authorised deposit-taking institutions increased $1,984m (0.7%) to $289,044m.

Bank housing loan outstandings increased $6,946m (0.8%) during January 2010 to reach a closing balance of $917,074m. Owner occupied housing loan outstandings of banks increased $5,040m (0.8%) to $636,231m and investment housing loan outstandings of banks increased $1,906m (0.7%) to $280,843m.


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