Australian Bureau of Statistics

Rate the ABS website
ABS Home > Statistics > By Release Date
5609.0 - Housing Finance, Australia, Feb 2005  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 11/04/2005   
   Page tools: Print Print Page Print all pages in this productPrint All RSS Feed RSS Bookmark and Share Search this Product



FEBRUARY KEY FIGURES

Trend estimates
Seasonally adjusted estimates
Feb 2005
Jan 2005 to Feb 2005
Feb 2005
Jan 2005 to Feb 2005

Value of dwelling commitments(a)
$m
% change
$m
% change
Total dwellings
17,556
1.8
17,911
5.0
Owner occupied housing
11,576
1.8
11,835
5.0
Investment housing - fixed loans(b)
5,980
1.7
6,076
4.9
Number of dwelling commitments(a)
no.
% change
no.
% change
Owner occupied housing
54,472
1.3
55,466
3.7
Construction of dwellings
4,421
0.8
4,510
2.3
Purchase of new dwellings
2,012
0.6
2,049
5.2
Purchase of established dwellings
48,039
1.4
48,907
3.8

(a) Includes refinancing.
(b) Excludes revolving credit.

Housing finance, Value of dwellings
Graph: Housing Finance, Value of Dwellings

Owner occupied housing finance
Graph: Owner occupied housing finance



FEBRUARY KEY POINTS


TREND ESTIMATES

  • Total value of dwelling finance commitments excluding alterations and additions increased by 1.8% in February 2005, the seventh consecutive monthly increase. Owner occupied housing increased by 1.8%, while investment housing rose by 1.7%.
  • The number of commitments for owner occupation increased by 1.3% in February 2005, while the number excluding refinancing rose by 1.6%.


SEASONALLY ADJUSTED ESTIMATES
  • Total value of dwelling finance commitments excluding alterations and additions rose by 5.0% in February 2005. This rise was due to increases in both owner occupied housing commitments (up 5.0%) and investment housing commitments (up 4.9%).
  • Investment housing commitments increased through purchase of dwellings for rent or resale (by others up $125m, 28.5%; by individuals up $104m, 2.2%) and construction of dwellings for rent or resale (up $57m, 10.6%).
  • The number of commitments for owner occupied housing increased by 3.7% in February 2005, the seventh monthly increase in the past eight months. The number excluding refinancing increased by 3.9%.


ORIGINAL ESTIMATES
  • First home buyer commitments as a percentage of total commitments fell to 15.7% in February 2005.


NOTES

CHANGES IN THIS ISSUE

There are no changes in this issue.



INQUIRIES

For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Darren Page on (02) 6252 6731.



SUMMARY COMMENTARY


SUMMARY OF FINDINGS


DWELLINGS FINANCED

Value of Dwellings Financed

The total value of dwelling commitments excluding alterations and additions (seasonally adjusted) increased by 5.0% in February 2005. The total housing finance trend increased by 1.8%, the seventh consecutive monthly increase.


The total value of owner occupied commitments (seasonally adjusted) increased by 5.0% (up $561m) in February 2005, following an increase of 0.2% in the revised January estimate. Increases were recorded in the purchase of established dwellings excluding refinancing (up $435m, 6.3%), refinancing of established dwellings (up $97m, 3.2%), construction of dwellings (up $28m, 2.9%) and purchase of new dwellings (up $2m, 0.5%). The trend series in the value of owner occupied commitments rose by 1.8% in February.


The seasonally adjusted series for value of investment housing commitments (including finance for construction and finance for rent or resale) increased by 4.9% (up $287m) in February 2005, following a fall of 2.4% in January. The increase this month was due to increases in purchase of dwellings for rent or resale by others (up $125m, 28.5%), purchase of dwellings for rent or resale by individuals (up $104m, 2.2%) and finance for the construction of dwellings for rent or resale (up $57m, 10.6%). The trend series in total value of investment commitments rose by 1.7%.

INVESTMENT HOUSING - TOTAL
Graph: INVESTMENT HOUSING - TOTAL



Number of Owner Occupied Dwellings Financed

The number of owner occupied dwelling commitments (seasonally adjusted) increased by 3.7% (up 1976) in February 2005, the seventh increase in the past eight months. Increases were recorded in the purchase of established dwellings excluding refinancing (up 1279, 4.0%), refinancing of established dwellings (up 493, 3.2%), construction of dwellings (up 103, 2.3%) and purchase of new dwellings (up 101, 5.2%). The total owner occupied housing finance trend rose by 1.3% in February 2005, the eighth consecutive monthly increase.


Increases were recorded in seasonally adjusted terms in New South Wales (up 991, 6.5%), Queensland (up 686, 5.8%), South Australia (up 249, 5.6%), Victoria (up 232, 1.9%) and Western Australia (up 192, 2.6%). These increases were partially offset by falls in Tasmania (down 61, -5.2%) Northern Territory (down 38, -6.7%) and Australian Capital Territory (down 34, -5.4%). The trend increased in all states and territories except Western Australia and Northern Territory.


In original terms, first home buyer commitments as a percentage of total owner occupied housing commitments fell to 15.7% in February 2005. The percentage of commitments at a fixed rate of interest (for at least two years) increased from 9.8% in January to 11.2% in February.

Graph: Number of Owner Occupied Dwellings Financed


Number of Owner Occupied Dwellings Financed Excluding Refinancing

The number of owner occupied dwellings financed excluding refinancing (seasonally adjusted) increased by 3.9% in February 2005, the fourth consecutive monthly increase. The trend increased by 1.6% in February 2005, the ninth consecutive monthly increase.

Graph: Number of Ownder Occupied Dwellings Financed Excluding Refinancing



PURPOSE OF FINANCE (OWNER OCCUPATION)

Construction of dwellings

The seasonally adjusted number of construction commitments for owner occupation rose by 2.3% in February 2005, following an increase of 2.4% in January. The trend series increased by 0.8% in February.

Graph: Construction of Dwellings


Purchase of new dwellings

The number of finance commitments for the purchase of new dwellings for owner occupation (seasonally adjusted) rose by 5.2% in February 2005, following a decrease of 3.9% in January. The trend series rose 0.6% in February 2005.

Graph: Purchase of New Dwellings


Purchase of established dwellings

The seasonally adjusted established dwelling for owner occupation series increased by 3.8% in February 2005, the seventh monthly increase in the past eight months. The trend rose by 1.4% in February 2005, the eighth consecutive monthly increase.

Graph: Purchase of Established Dwellings


Refinancing

The number of refinancing commitments for owner occupied housing (seasonally adjusted) rose by 3.2% in February 2005, after a fall of 0.9% in January. The trend series rose 0.5% in February 2005.

Graph: Refinancing



TYPE OF LENDER (OWNER OCCUPATION)

Banks

The number of owner occupied dwellings financed by banks (seasonally adjusted) increased by 4.0% in February 2005, after a rise of 1.5% in January. The trend series increased by 1.6% in February, the eighth consecutive monthly increase.

Graph: Type of Lender - Owner Occupation - Banks


Non-banks

Non-bank commitments for owner occupied housing (seasonally adjusted) increased by 2.7% in February 2005, following a decrease of 1.7% in January. Permanent building societies were up 8.5% and wholesale lenders were up 2.1%. The non-bank trend series increased by 0.5% in February 2005, the eighth consecutive monthly increase.

Graph: Type of Lender - Owner Occupation - Non-Banks



HOUSING LOAN OUTSTANDINGS

At the end of February 2005, housing loans outstanding of authorised deposit-taking institutions was $500,436m, down $2,908m (-0.6%) from January's closing balance, following significant sales to securitisation vehicles during the month. Owner occupied housing loans decreased by $2,393m (-0.7%) to close at $332,993m, while investment housing loans outstanding decreased by $515m (-0.3%) to reach a closing balance of $167,443m.


Bank loans decreased by $3,050m (-0.6%) during February to a closing stock of $470,769m. Owner occupied housing loans of banks decreased by $2,493m (-0.8%) to $309,241m, while investment housing loans decreased $557m (-0.3%) to $161,528m.


Bookmark and Share. Opens in a new window

Commonwealth of Australia 2014

Unless otherwise noted, content on this website is licensed under a Creative Commons Attribution 2.5 Australia Licence together with any terms, conditions and exclusions as set out in the website Copyright notice. For permission to do anything beyond the scope of this licence and copyright terms contact us.