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SUMMARY OF FINDINGS Number of Owner Occupied Dwellings Financed (Tables 1 & 2) The number of owner occupied housing commitments (trend) fell 4.1% (down 2,055) in March 2010 compared with February 2010. Decreases were recorded in commitments for the purchase of established dwellings excluding refinancing (down 1,362, 4.8%), the refinancing of established dwellings (down 327, 2.4%), the construction of dwellings (down 296, 4.6%) and the purchase of new dwellings (down 70, 3.2%). The seasonally adjusted estimate for the total number of owner occupied housing commitments fell 3.4% in March 2010. This is the lowest level since April 2001. Number of Owner Occupied Dwellings Financed - State (Tables 5 & 6) Between February and March 2010, the number of owner occupied housing commitments (trend) decreased in: New South Wales (down 733, 5.1%), Queensland (down 446, 4.5%), Victoria (down 307, 2.3%), Western Australia (down 288, 4.5%), South Australia (down 217, 5.5%), Tasmania (down 53, 5.9%), Australian Capital Territory (down 20, 2.0%) and Northern Territory (down 13, 3.3%). The seasonally adjusted estimates decreased in all states and territories. 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 18.1% in February 2010 to 16.1% in March 2010. Between February and March 2010, the average loan size for first home buyers rose $1,700 to $284,300. The average loan size for all owner occupied housing commitments rose $6,700 to $281,400 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 4.7% in March 2010 compared with February 2010, following a decrease of 5.2% in February 2010. The seasonally adjusted series fell 4.6% in March 2010. 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 4.6% in March 2010 compared with February 2010, following a decrease of 4.4% in February 2010. The seasonally adjusted series fell 7.3% in March 2010. Purchase of new dwellings (Tables 1 & 2) The number of finance commitments for the purchase of new dwellings for owner occupation (trend) decreased 3.2% in March 2010 compared with February 2010, following a decrease of 4.0% in February 2010. The seasonally adjusted series fell 3.2% in March 2010. 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 March 2010 compared with February 2010, following a decrease of 4.6% in February 2010. The seasonally adjusted series fell 2.9% in March 2010. Refinancing (Tables 1 & 2) The number of refinancing commitments for owner occupied housing (trend) decreased 2.4% in March 2010 compared with February 2010, following a decrease of 2.8% in February 2010. The seasonally adjusted series fell 0.3% in March 2010. TYPE OF LENDER (OWNER OCCUPATION) Banks (Tables 3 & 4) The number of owner occupied dwellings financed by banks (trend) decreased 4.0% in March 2010 compared with February 2010, after a decrease of 4.6% in February 2010. The seasonally adjusted series fell 3.2% in March 2010. Non-banks (Tables 3 & 4) The number of owner occupied dwellings financed by non-banks (trend) decreased 4.4% in March 2010 after a decrease of 4.3% in February 2010. The seasonally adjusted series for the number of owner occupied dwellings financed by non-banks decreased 5.2% in March 2010. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) decreased 2.4%. The seasonally adjusted series increased 5.4% after decreasing the previous nine months. HOUSING LOAN OUTSTANDINGS (Table 12) At the end of March 2010, the value of outstanding housing loans financed by authorised deposit-taking institutions (ADIs) was $983,431m, up $9,677m (1.0%) from the February 2010 closing balance. Owner occupied housing loan outstandings financed by ADIs increased $6,313m (0.9%) to $687,569m and investment housing loans financed by ADIs increased $3,364m (1.2%) to $295,862m. Bank housing loan outstandings increased $9,610 (1.0%) during March 2010 to reach a closing balance of $935,208m. Owner occupied housing loan outstandings of banks increased $6,255m (1.0%) to $648,576m and investment housing loan outstandings of banks increased $3,355m (1.2%) to $286,632m. Document Selection These documents will be presented in a new window.
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