5609.0 - Housing Finance, Australia, Jul 2010 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 08/09/2010   
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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) was flat in July 2010 compared with June 2010, while the seasonally adjusted series rose 0.7% in June 2010.

The total value of owner occupied housing commitments (trend) rose 0.3% (up $40m) in July 2010, following a fall of 0.2% in June 2010. Rises were recorded in commitments for the purchase of established dwellings (up $62m, 0.5%) and the purchase of new dwellings (up $10m, 1.4%), while commitments for the construction of dwellings fell (down $32m, 2.5%). The seasonally adjusted series for the value of owner occupied commitments rose 2.3% in July 2010.

The total value of investment housing commitments (trend) fell 0.5% (down $34m) in July 2010 compared with June 2010, following a fall of 0.2% in June 2010. Falls were recorded in commitments for the purchase of dwellings by others for rent or resale (down $24m, 3.4%), the purchase of dwellings by individuals for rent or resale (down $6m, 0.1%) and the construction of dwellings for rent or resale (down $4m, 0.8%). The value of investment housing commitments seasonally adjusted fell 2.3% in July 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) was flat (down 18, 0.0%) in July 2010 compared with June 2010. Falls were recorded in commitments for the construction of dwellings (down 153, 3.0%) and the purchase of established dwellings excluding refinancing (down 70, 0.3%), while rises were recorded in commitments for the refinancing of established dwellings (up 166, 1.3%) and the purchase of new dwellings (up 39, 1.7%). The seasonally adjusted estimate for the total number of owner occupied housing commitments rose 1.7% in July 2010.

Graph: Number of Owner Occupied Dwellings Financed


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

Between June and July 2010, the number of owner occupied housing commitments (trend) fell in Western Australia (down 109, 2.0%), Queensland (down 37, 0.4%), Northern Territory (down 12, 3.7%) and the Australian Capital Territory (down 4, 0.4%). Rises were recorded in New South Wales (up 85, 0.6%), Victoria (up 35, 0.3%), Tasmania (up 7, 0.7%) and South Australia (up 5, 0.1%). The seasonally adjusted estimates rose in all states and territories except Western Australia (down 134, 2.5%) and the Northern Territory (down 26, 7.8%).


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 from 16.0% in June 2010 to 16.1% in July 2010. Between June and July 2010, the average loan size for first home buyers fell $2,100 to $282,500. The average loan size for all owner occupied housing commitments rose $3,800 to $289,300 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) fell 0.5% in July 2010 compared with June 2010, following a fall of 1.1% in June 2010. The seasonally adjusted series rose 0.9% in July 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) fell 3.0% in July 2010 compared with June 2010, following a fall of 3.9% in June 2010. The seasonally adjusted series fell 0.7% in July 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) rose 1.7% in July 2010 compared with June 2010, following a rise of 1.3% in June 2010. The seasonally adjusted series rose 1.5% in July 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) rose 0.2% in July 2010 compared with June 2010, following a fall of 0.2% in June 2010. The seasonally adjusted series rose 2.0% in July 2010.

Graph: Purchase of established dwellings including refinancing


Refinancing (Tables 1 & 2)

The number of refinancing commitments for owner occupied housing (trend) rose 1.3% in July 2010 compared with June 2010, following a rise of 0.9% in June 2010. The seasonally adjusted series rose 3.8% in July 2010.

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 July 2010 compared with June 2010, following a fall of 0.6% in June 2010. The seasonally adjusted series rose 1.7% in July 2010.

Graph: Banks


Non-banks (Tables 3 & 4)

The number of commitments for owner occupied dwellings financed by non-banks (trend) rose 0.3% in July 2010 after a fall of 0.3% in June 2010. The seasonally adjusted series rose 1.4% in July 2010. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) rose 0.5%. The seasonally adjusted series rose 6.0% in July 2010.

Graph: Non-banks


HOUSING LOAN OUTSTANDINGS

(Table 12)

At the end of July 2010, the value of outstanding housing loans financed by authorised deposit-taking institutions (ADIs) was $1,014,839m, up $6,222m (0.6%) from the June 2010 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $4,332m (0.6%) to $708,148m and investment housing loans financed by ADIs rose $1,890m (0.6%) to $306,691m.

Bank housing loan outstandings rose $5,901m (0.6%) during July 2010 to reach a closing balance of $965,051m. Owner occupied housing loan outstandings of banks rose $4,248m (0.6%) to $668,292m and investment housing loan outstandings of banks rose $1,653m (0.6%) to $296,759m.