5609.0 - Housing Finance, Australia, Oct 2013 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 10/12/2013   
   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 1.8% in October 2013 compared with September 2013 and the seasonally adjusted series rose 4.1% in October 2013.

The total value of owner occupied housing commitments (trend) rose ($175m, 1.1%) in October 2013. Rises were recorded in commitments for the purchase of established dwellings (up $164m, 1.2%) and commitments for the construction of dwellings (up $16m, 1.0%), while a fall was recorded in commitments for the purchase of new dwellings (down $5m, 0.5%). The seasonally adjusted series for the total value of owner occupied housing commitments rose 1.7% in October 2013.

The total value of investment housing commitments (trend) rose ($275m, 2.9%) in October 2013 compared with September 2013. Rises were recorded in commitments for the purchase of dwellings by individuals for rent or resale (up $207m, 2.6%), commitments for the construction of dwellings for rent or resale (up $43m, 7.0%) and commitments for the purchase of dwellings by others for rent or resale (up $25m, 3.2%). The value of investment housing commitments seasonally adjusted rose 8.2% in October 2013.

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 287, 0.6%) in October 2013, following a rise of 0.7% in September 2013. Rises were recorded in commitments for the purchase of established dwellings excluding refinancing (up 143, 0.5%), commitments for the refinancing of established dwellings (up 109, 0.6%) and commitments for the construction of dwellings (up 38, 0.7%), while a fall was recorded in commitments for the purchase of new dwellings (down 3, 0.1%). The seasonally adjusted estimate for the total number of owner occupied housing commitments rose (up 513, 1.0%) in October 2013.

Graph: Number of Owner Occupied Dwellings Financed


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

Between October 2013 and September 2013, the number of owner occupied housing commitments (trend) rose in New South Wales (up 154, 1.0%), Victoria (up 149, 1.1%) and Tasmania (up 23, 2.7%) while falls were recorded in Western Australia (down 23, 0.3%), the Australian Capital Territory (down 7, 0.8%), Queensland (down 7, 0.1%), South Australia (down 5, 0.2%), and the Northern Territory (down 1, 0.3%). The seasonally adjusted estimates rose in New South Wales (up 434, 2.9%), Western Australia (up 394, 5.3%), Tasmania (up 60, 7%), Queensland (up 29, 0.3%) and the Northern Territory (up 28, 8.2%), while falls were recorded in Victoria (down 745, 5.1%), the Australian Capital Territory (down 153, 17.4%) and South Australia (down 58, 1.7%).


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 12.6% in October 2013 from 12.5% in September 2013. Between October 2013 and September 2013, the average loan size for first home buyers rose $5,200 to $296,100. The average loan size for all owner occupied housing commitments rose $5,600 to $311,100 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 October 2013, following a rise of 0.5% in September 2013. The seasonally adjusted series rose 2.0% in October 2013, following a rise of 3.6% in September 2013.

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 October 2013, following a rise of 0.6% in September 2013. This is the eleventh consecutive rise since December 2012. The seasonally adjusted series rose 1.0% in October 2013, following a rise of 1.7% in September 2013.

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) fell 0.1% in October 2013, following a fall of 0.4% in September 2013. The seasonally adjusted series rose 3.6% in October 2013, after a fall of 1.8% in September 2013.

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 0.6% in October 2013, following a rise of 0.7% in September 2013. This is the tenth consecutive rise since January 2013. The seasonally adjusted series rose 0.8% in October 2013, following a rise of 4.2% in September 2013.

Graph: Purchase of established dwellings including refinancing


Refinancing (Tables 1 & 2)

The number of refinancing commitments for owner occupied housing (trend) rose 0.6% in October 2013, following a rise of 1.0% in September 2013. This is the tenth consecutive rise since January 2013. The seasonally adjusted series fell 1.0% in October 2013, after a rise of 3.3% in September 2013.

Graph: Refinancing


TYPE OF LENDER (OWNER OCCUPATION)

Banks (Tables 3 & 4)

The number of commitments for owner occupied dwellings financed by banks (trend) rose 0.5% in October 2013, following a rise of 0.6% in September 2013. The seasonally adjusted series rose 0.9% in October 2013, following a rise of 3.8% in September 2013.

Graph: Banks


Non-banks (Tables 3 & 4)

The number of commitments for owner occupied dwellings financed by non-banks (trend) rose 1.2% in October 2013, following a rise of 1.3% in September 2013. The seasonally adjusted series rose 2.3% in October 2013, following a rise of 0.1% in September 2013. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) rose 1.2% in October 2013, following a rise of 1.5% in September 2013. The seasonally adjusted series fell 1.3% in October 2013, after a rise of 2.2% in September 2013.

Graph: Non-banks


HOUSING LOAN OUTSTANDINGS

(Table 12)

At the end of October 2013, the value of outstanding housing loans financed by authorised deposit-taking institutions (ADIs) was $1,247,430m, up $6,906m (0.6%) from the September 2013 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $3,967m (0.5%) to $838,785m and investment housing loan outstandings financed by ADIs rose $2939m (0.7%) to $408,645m.

Bank housing loan outstandings rose $6,684m (0.6%) during October 2013 to reach a closing balance of $1,201,755m. Owner occupied housing loan outstandings of banks rose $3,787m (0.5%) to $801,988m and investment housing loan outstandings of banks rose $2,897m (0.7%) to $399,767m.