5609.0 - Housing Finance, Australia, Jun 2012 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 08/08/2012   
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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) was flat (down $7m, 0.0%) in June 2012 compared with May 2012, while the seasonally adjusted series rose 2.4% in June 2012.

The total value of owner occupied housing commitments (trend) rose ($18m, 0.1%) in June 2012 after being flat (up $6m, 0.0%) in May 2012. Rises were recorded in commitments for the purchase of new dwellings (up $18m, 2.5%) and commitments for the construction of dwellings (up $16m, 1.1%), while a fall was recorded in commitments for the purchase of established dwellings (down $16m, 0.1%). The seasonally adjusted series for the total value of owner occupied housing commitments rose 1.2% in June 2012.

The total value of investment housing commitments (trend) fell ($24m, 0.4%) in June 2012 compared with May 2012. Falls were recorded in commitments for the construction of dwellings for rent or resale (down $14m, 3.4%), commitments for the purchase of dwellings by others for rent or resale (down $8m, 1.6%) and commitments for the purchase of dwellings by individuals for rent or resale (down $2m, 0.0%). The value of investment housing commitments seasonally adjusted rose 4.9% in June 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 (33, 0.1%) in June 2012, following a fall of 0.2% in May 2012. Falls were recorded in commitments for the refinancing of established dwellings (down 70, 0.4%) and commitments for the purchase of established dwellings excluding refinancing (down 53, 0.2%), while rises were recorded in commitments for the purchase of new dwellings (up 50, 2.4%) and commitments for the construction of dwellings (up 39, 0.7%). The seasonally adjusted estimate for the total number of owner occupied housing commitments rose (579, 1.3%) in June 2012.

Graph: Number of Owner Occupied Dwellings Financed


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

Between June 2012 and May 2012, the number of owner occupied housing commitments (trend) fell in New South Wales (down 183, 1.4%), Queensland (down 69, 0.8%) and the Northern Territory (down 4, 1.2%), while rises were recorded in Victoria (up 78, 0.6%), Tasmania (up 16, 1.9%), South Australia (up 9, 0.3%), Western Australia (up 8, 0.1%) and the Australian Capital Territory (up 3, 0.3%). The seasonally adjusted estimates rose in New South Wales (up 293, 2.3%), Victoria (up 230, 1.8%), South Australia (up 74, 2.3%), Tasmania (up 47, 5.4%), the Australian Capital Territory (up 15, 1.7%) and the Northern Territory (up 14, 4.6%), while falls were recorded in Queensland (down 124, 1.4%) and Western Australia (down 82, 1.2%).


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 18.3% in June 2012 from 17.8% in May 2012. Between June 2012 and May 2012, the average loan size for first home buyers rose $3,600 to $289,400. The average loan size for all owner occupied housing commitments rose $1,900 to $295,500 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 0.1% in June 2012, after a fall of 0.1% in May 2012. The seasonally adjusted series rose 2.0% in June 2012, following a rise of 0.1% in May 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 0.7% in June 2012, following a rise of 0.9% in May 2012. This is the eighth consecutive rise in this series. The seasonally adjusted series rose 4.9% in June 2012, following a rise of 0.1% in May 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 2.4% in June 2012, following a rise of 2.5% in May 2012. This is the fifth consecutive rise in this series. The seasonally adjusted series rose 9.7% in June 2012, after a fall of 4.7% in May 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 0.3% in June 2012, following a fall of 0.4% in May 2012. This is the sixth consecutive fall in this series. The seasonally adjusted series rose 0.3% in June 2012, after a fall of 0.8% in May 2012.

Graph: Purchase of established dwellings including refinancing


Refinancing (Tables 1 & 2)

The number of refinancing commitments for owner occupied housing (trend) fell 0.4% in June 2012, following a fall of 0.2% in May 2012. The seasonally adjusted series fell 0.2% in June 2012, following a fall of 2.7% in May 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 0.3% in June 2012, following a fall of 0.4% in May 2012. The seasonally adjusted series rose 1.0% in June 2012, after a fall of 1.1% in May 2012.

Graph: Banks


Non-banks (Tables 3 & 4)

The number of commitments for owner occupied dwellings financed by non-banks (trend) rose 1.8% in June 2012, following a rise of 1.6% in May 2012. The seasonally adjusted series rose 2.9% in June 2012, following a rise of 1.2% in May 2012. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) rose 2.4% in June 2012. The seasonally adjusted series fell 5.1% in June 2012, after a rise of 0.2% in May 2012.

Graph: Non-banks


HOUSING LOAN OUTSTANDINGS

(Table 12)

At the end of June 2012, the value of outstanding housing loans financed by authorised deposit-taking institutions (ADIs) was $1,170,866m, up $8,255m (0.7%) from the May 2012 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $4,743m (0.6%) to $787,550m and investment housing loans financed by ADIs rose $3,512m (0.9%) to $383,316m.

Bank housing loan outstandings rose $8,921m (0.8%) during June 2012 to reach a closing balance of $1,122,106m. Owner occupied housing loan outstandings of banks rose $5,479m (0.7%) to $748,023m and investment housing loan outstandings of banks rose $3,442m (0.9%) to $374,083m.