5609.0 - Housing Finance, Australia, Jun 2011 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 09/08/2011   
   Page tools: Print Print Page Print all pages in this productPrint All RSS Feed RSS Bookmark and Share Search this Product

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 June 2011 compared with May 2011, while the seasonally adjusted series fell 1.4% in June 2011.

The total value of owner occupied housing commitments (trend) rose 0.9% (up $130m) in June 2011, following a rise of 0.7% in May 2011. Rises were recorded in commitments for the purchase of established dwellings (up $98m, 0.8%), the construction of dwellings (up $16m, 1.2%) and the purchase of new dwellings (up $15m, 2.2%). The seasonally adjusted series for the value of owner occupied commitments was flat (0.0%) in June 2011.

The total value of investment housing commitments (trend) fell 0.4% (down $26m) in June 2011 compared with May 2011, the fourteenth consecutive monthly fall. Falls were recorded in commitments for the purchase of dwellings by others for rent or resale (down $27m, 4.6%) and the purchase of dwellings by individuals for rent or resale (down $14m, 0.3%), while the construction of dwellings for rent or resale rose (up $15m, 3.6%). The value of investment housing commitments seasonally adjusted fell 4.4% in June 2011.

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 464, 1.0%) in June 2011 compared with May 2011. Rises were recorded in commitments for the refinancing of established dwellings (up 302, 1.9%), the purchase of established dwellings excluding refinancing (up 81, 0.3%), the construction of dwellings (up 43, 0.9%) and the purchase of new dwellings (up 38, 1.9%). The seasonally adjusted estimate for the total number of owner occupied housing commitments was flat (0.0%) in June 2011.

Graph: Number of Owner Occupied Dwellings Financed


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

Between May 2011 and June 2011, the number of owner occupied housing commitments (trend) rose in Western Australia (up 120, 2.0%), Victoria (up 105, 0.8%), Queensland (up 44, 0.5%), New South Wales (up 37, 0.3%), South Australia (up 25, 0.7%), the Australian Capital Territory (up 9, 0.9%) and the Northern Territory (up 2, 0.4%), while a fall was recorded in Tasmania (down 5, 0.7%). The seasonally adjusted estimates rose in all states and territories except Queensland (down 56, 0.7%), Tasmania (down 10, 1.2%) and Victoria (flat, 0.0%).


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 fell from 15.4% in May 2011 to 15.2% in June 2011. Between May 2011 and June 2011, the average loan size for first home buyers fell $6,000 to $280,200. The average loan size for all owner occupied housing commitments rose $900 to $288,100 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 0.5% in June 2011 compared with May 2011, following a rise of 0.2% in May 2011. The seasonally adjusted series rose 1.3% in June 2011.

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 0.9% in June 2011 compared with May 2011, following a rise of 0.7% in May 2011. The seasonally adjusted series fell 0.8% in June 2011, after a rise of 4.9% in May 2011.

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 1.9% in June 2011 compared with May 2011, following a rise of 0.7% in May 2011. The seasonally adjusted series rose 0.7% in June 2011, following a rise of 1.6% in May 2011 and 12.5% in April 2011.

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 0.9% in June 2011 compared with May 2011, following a rise of 0.8% in May 2011. The seasonally adjusted series rose 0.1% in June 2011, following a rise of 2.6% in May 2011.

Graph: Purchase of established dwellings including refinancing


Refinancing (Tables 1 & 2)

The number of refinancing commitments for owner occupied housing (trend) rose 1.9% in June 2011 compared with May 2011, following a rise of 2.0% in May 2011. The seasonally adjusted series fell 2.6% in June 2011, after a rise of 9.0% in May 2011.

Graph: Refinancing


TYPE OF LENDER (OWNER OCCUPATION)

Banks (Tables 3 & 4)

The number of commitments for owner occupied dwellings financed by banks (trend) rose 1.5% in June 2011 compared with May 2011, following a rise of 1.5% in May 2011. The seasonally adjusted series rose 0.2% in June 2011.

Graph: Banks


Non-banks (Tables 3 & 4)

The number of commitments for owner occupied dwellings financed by non-banks (trend) fell 3.4% in June 2011, following a fall of 5.2% in May 2011. The seasonally adjusted series fell 1.1% in June 2011. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) fell 3.4%. The seasonally adjusted series fell 0.9% in June 2011.

Graph: Non-banks


HOUSING LOAN OUTSTANDINGS

(Table 12)

At the end of June 2011, the value of outstanding housing loans financed by authorised deposit-taking institutions (ADIs) was $1,100,035m, up $9,492m (0.9%) from the May 2011 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $6,870m (0.9%) to $770,629m and investment housing loans financed by ADIs rose $2,622m (0.8%) to $329,406m.

Bank housing loan outstandings rose $9,606m (0.9%) during June 2011 to reach a closing balance of $1,042,622m. Owner occupied housing loan outstandings of banks rose $6,951m (1.0%) to $724,132m and investment housing loan outstandings of banks rose $2,655m (0.8%) to $318,490m.