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5609.0 - Housing Finance, Australia, Jul 2012 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 10/09/2012   
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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 0.1% in July 2012 compared with June 2012, while the seasonally adjusted series fell 1.8% in July 2012.

The total value of owner occupied housing commitments (trend) rose ($20m, 0.1%) in July 2012, following a rise ($10m, 0.1%) in June 2012. Rises were recorded in commitments for the purchase of new dwellings (up $14m, 2.0%) and commitments for the construction of dwellings (up $18m, 1.3%), while a fall was recorded in commitments for the purchase of established dwellings (down $13m, 0.1%). The seasonally adjusted series for the total value of owner occupied housing commitments fell 1.4% in July 2012.

The total value of investment housing commitments (trend) was flat (down $1m, 0.0%) in July 2012 compared with June 2012. A fall was recorded in commitments for the purchase of dwellings by others for rent or resale (down $14m, 2.9%), while rises were recorded in commitments for the construction of dwellings for rent or resale (up $9m, 2.3%) and commitments for the purchase of dwellings by individuals for rent or resale (up $4m, 0.1%). The value of investment housing commitments seasonally adjusted fell 2.7% in July 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) was flat (up 16, 0.0%) in July 2012, after a fall of 0.1% in June 2012. Rises were recorded in commitments for the purchase of new dwellings (up 37, 1.8%), commitments for the construction of dwellings (up 53, 1.0%) and commitments for the purchase of established dwellings excluding refinancing (up 107, 0.5%), while a fall was recorded in commitments for the refinancing of established dwellings (down 182, 1.2%). The seasonally adjusted estimate for the total number of owner occupied housing commitments fell (474, 1.0%) in July 2012.

Graph: Number of Owner Occupied Dwellings Financed


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

Between July 2012 and June 2012, the number of owner occupied housing commitments (trend) rose in Victoria (up 40, 0.3%), Tasmania (up 13, 1.9%) and the Northern Territory (up 3, 0.7%), while falls were recorded in Queensland (down 82, 1.0%), New South Wales (down 34, 0.3%), South Australia (down 8, 0.3%), Western Australia (down 4, 0.1%) and the Australian Capital Territory (down 2, 0.2%). The seasonally adjusted estimates fell in New South Wales (down 346, 2.7%), Queensland (down 165, 2.0%), Victoria (down 159, 1.3%), South Australia (down 31, 1.0%),Tasmania (down 23, 3.1%) and the Australian Capital Territory (down 20, 2.7%), while rises were recorded in Western Australia (up 118, 1.8%) and the Northern Territory (up 27, 8.0%).


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 to 19.2% in July 2012 from 18.5% in June 2012. Between July 2012 and June 2012, the average loan size for first home buyers fell $600 to $291,400. The average loan size for all owner occupied housing commitments fell $1,100 to $300,500 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 0.7% in July 2012, following a rise of 0.4% in June 2012. The seasonally adjusted series fell 0.3% in July 2012, after a rise of 2.0% in June 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) rose 1.0% in July 2012, following a rise of 1.2% in June 2012. This is the ninth consecutive rise in this series. The seasonally adjusted series rose 0.3% in July 2012, following a rise of 4.5% in June 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 1.8% in July 2012, following a rise of 1.9% in June 2012. This is the sixth consecutive rise in this series. The seasonally adjusted series fell 6.8% in July 2012, after a rise of 8.9% in June 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 0.2% in July 2012, following a fall of 0.4% in June 2012. This is the seventh consecutive fall in this series. The seasonally adjusted series fell 0.9% in July 2012, after a rise of 0.2% in June 2012.

Graph: Purchase of established dwellings including refinancing


Refinancing (Tables 1 & 2)

The number of refinancing commitments for owner occupied housing (trend) fell 1.2% in July 2012, following a fall of 1.1% in June 2012. The seasonally adjusted series fell 2.4% in July 2012, following a fall of 0.9% in June 2012.

Graph: Refinancing


TYPE OF LENDER (OWNER OCCUPATION)

Banks (Tables 3 & 4)

The number of commitments for owner occupied dwellings financed by banks (trend) was flat (0.0%) in July 2012, after a fall of 0.2% in June 2012. The seasonally adjusted series fell 1.0% in July 2012, after a rise of 1.1% in June 2012.

Graph: Banks


Non-banks (Tables 3 & 4)

The number of commitments for owner occupied dwellings financed by non-banks (trend) rose 0.4% in July 2012, following a rise of 0.5% in June 2012. The seasonally adjusted series fell 1.5% in July 2012, after a rise of 0.8% in June 2012. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) rose 0.8% in July 2012. The seasonally adjusted series rose 0.6% in July 2012, after a fall of 6.1% in June 2012.

Graph: Non-banks


HOUSING LOAN OUTSTANDINGS

(Table 12)

At the end of July 2012, the value of outstanding housing loans financed by authorised deposit-taking institutions (ADIs) was $1,175,790m, up $4,924m (0.4%) from the June 2012 closing balance. Owner occupied housing loan outstanding financed by ADIs rose $3,030m (0.4%) to $790,578m and investment housing loans financed by ADIs rose $1,894m (0.5%) to $385,212m.

Bank housing loan outstandings rose $4,416m (0.4%) during July 2012 to reach a closing balance of $1,126,522m. Owner occupied housing loan outstandings of banks rose $2,567m (0.3%) to $750,588m and investment housing loan outstandings of banks rose $1,849m (0.5%) to $375,934m.


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