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1367.5 - Western Australian Statistical Indicators, 2010  
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Contents >> Investment and Finance >> Lending and Housing Finance Commitments

LENDING FINANCE COMMITMENTS

NOVEMBER KEY FIGURES, Western Australia

Nov 2010
Oct 2010 to Nov 2010
Nov 2009 to Nov 2010
Original Data(a)
$m
% change
% change

Housing finance for owner occupation
1 738.0
12.9
-20.0
Personal finance
1 077.9
8.3
-0.1
Commercial finance
2 970.1
-7.8
-8.7
Lease finance
22.6
12.7
28.1

Source: Lending Finance, Australia (cat. no. 5671.0); Housing Finance, Australia (cat. no. 5609.0).
(a) Personal, Commercial and Lease finance commitments data are only available in original terms. Housing finance commitments data are also available in trend and seasonally adjusted terms (see below).

  • In original data terms, the value of lending commitments in the month of November rose across all types of finance except Commercial finance, which fell by almost 8%.
  • Compared with November of the previous year, Housing and Personal finance commitments that were about 20% lower in November 2010, while Lease Finance commitments were around 28% higher.
This link takes you to time series spreadsheets from Lending Finance, Australia, November 2010 (cat. no. 5609.0). Data for Western Australia can be found in Table 23: Commercial Finance Commitments; Table 35: Lease Finance Commitments; and Table 57: Personal Finance Commitments.


HOUSING FINANCE COMMITMENTS

NOVEMBER KEY FIGURES, Western Australia(a)
Number of dwelling commitments(b)
Value of dwelling commitments(b)
November 2010
% change from
November 2010
% change from
October 2010
November 2009
October 2010
November 2009
Estimate
no.
%
%
$m
%
%

Trend
5 650
1.3
-20.8
1 593.4
1.4
-23.7
Seasonally adjusted
5 733
2.2
-19.6
1 630.1
4.0
-23.3

(a) Dwelling commitment statistics presented in this table are for owner occupied dwellings.
(b) Excludes alterations and additions. Includes re-financing.
Source: Housing Finance, Australia (cat. no. 5609.0).

  • In November 2010, the number of owner occupied housing commitments increased for the fourth consecutive month, giving a rise of 1.3% in trend terms.
  • In seasonally adjusted terms, the number of owner occupied commitments increased by 2.2% while the total value of commitments increased by 4.0%. However, these estimates were around 23% lower than in November 2009.


Number of Dwelling Commitments, Owner Occupied Housing

Graph: Number of Dwelling Commitments, Owner Occupied Housing

  • Over the last 10 years, there has been considerable volatility in the number of finance commitments for owner-occupied housing.
  • After peaking at 9,600 (trend) in May 2006, the number of commitments followed a downward trend, dropping below 6,300 in September 2008.
  • Coinciding with falling interest rates and increased government subsidies, the number of commitments began to rise again in October 2008, climbing to almost 7,600 by July 2009.
  • The number of commitments then fell by around 1,900 twelve months later although small increases over the four months to November 2010 may indicate the beginning of a new upward trend.


HOUSING FINANCE COMMITMENTS FOR OWNER OCCUPATION(a)(b), First Home Buyers

Number of commitments
Value of commitments
Average loan size
Reference period
no.
$m
$'000

2008-2009(c)
20 782
5 861.3
282.0
2009-2010(c)
19 327
5 667.0
293.2
2009November
2 088
628.0
300.8
December
1 841
550.3
298.9
2010January
1 259
376.1
298.7
February
1 172
342.7
292.4
March
1 162
333.5
287.0
April
889
255.9
287.8
May
955
265.2
277.7
June
967
270.2
279.4
July
798
223.5
280.1
August
924
259.2
280.5
September
945
257.9
272.9
October
987
274.0
277.6
November
1 126
302.7
268.8

(a) Original data for Western Australia.
(b) Excludes alterations and additions. Includes re-financing.
(c) Year ending June.
Source: Housing Finance, Australia (cat. no. 5609.0).
  • At the state level , the breakdown of dwelling finance commitments by first and non-first home buyers is available only in original data terms.
  • In November 2010, the number of first home buyer commitments rose by 14% according to the original data. This followed three previous monthly rises after commitments fell below 800 in July for the first time in ten years. Despite this turnaround, the number of commitments in November 2010 was just above half of those recorded in November 2009, when the First Home Owners' Boost was still in operation.
  • In November 2010, the average loan size for first home buyers in Perth fell 3.2% to $268,800, the lowest value since October 2008.
  • In the 12 months to November, the average loan size decreased by 11%, reflecting a downward trend in the median house price.

HOUSING FINANCE COMMITMENTS FOR OWNER OCCUPATION(a)(b), Non-First Home Buyers

Number of commitments
Value of commitments
Average loan size
Reference period
no.
$m
$'000

2008-2009(c)
61 093
15 984.7
261.6
2009-2010(c)
59 632
17 188.7
288.2
2009November
5 286
1 545.1
292.3
December
5 294
1 518.3
286.8
2010January
3 943
1 176.6
298.4
February
4 735
1 374.6
290.3
March
5 195
1 518.5
292.3
April
4 418
1 293.1
292.7
May
4 642
1 321.6
284.7
June
4 652
1 340.7
288.2
July
4 536
1 301.4
286.9
August
4 582
1 313.7
286.7
September
4 721
1 343.6
284.6
October
4 522
1 264.8
279.7
November
5 020
1 435.2
285.9

(a) Original data for Western Australia.
(b) Excludes alterations and additions. Includes re-financing.
(c) Year ending June.
Source: Housing Finance, Australia (cat. no. 5609.0).

  • In November 2010, the number of dwelling finance commitments for non-first home buyers was 11% higher than the October figure. Despite this recent rise, the November figure was still 5% lower than in November of the previous year.
  • The average loan size in November 2010 for this group of borrowers was $285,900, a 2.2% increase from the previous month.


This link takes you to time series spreadsheets from Housing Finance, Australia, November 2010 (cat. no. 5609.0). Tables 5 - 8 and Tables 9B-10C contain a range of housing finance commitments data by state.

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