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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 4.0% (down 2,138) in February 2010 compared with January 2010. Decreases were recorded in commitments for the purchase of established dwellings excluding refinancing (down 1,478, 4.9%), the refinancing of established dwellings (down 378, 2.7%), the construction of dwellings (down 196, 2.8%) and the purchase of new dwellings (down 86, 3.8%). The seasonally adjusted estimate for the total number of owner occupied housing commitments fell 1.8% in February 2010. Number of Owner Occupied Dwellings Financed - State (Tables 5 & 6) Between January and February 2010, the number of owner occupied housing commitments (trend) decreased in: New South Wales (down 713, 4.6%), Queensland (down 522, 4.9%), Victoria (down 300, 2.2%), South Australia (down 230, 5.4%), Western Australia (down 204, 3.0%), Tasmania (down 54, 5.6%), the Australian Capital Territory (down 22, 2.1%) and the Northern Territory (down 7, 1.7%). The seasonally adjusted estimates decreased in all states and territories except Victoria (up 172, 1.3%), Western Australia (up 231, 3.7%) and the Northern Territory which remained unchanged. 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 20.5% in January 2010 to 18.1% in February 2010. Between January and February 2010, the average loan size for first home buyers fell $2,600 to $282,100. The average loan size for all owner occupied housing commitments fell $8,400 to $274,400 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 4.5% in February 2010 compared with January 2010, following a decrease of 4.7% in January 2010. The seasonally adjusted series fell 2.7% in February 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 2.8% in February 2010 compared with January 2010, following a decrease of 2.5% in January 2010. The seasonally adjusted series fell 3.0% in February 2010. Purchase of new dwellings (Tables 1 & 2) The number of finance commitments for the purchase of new dwellings for owner occupation (trend) decreased 3.8% in February 2010 compared with January 2010, following a decrease of 3.9% in January 2010. The seasonally adjusted series rose 0.7% in February 2010, following a decrease of 12.7% in January 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 4.2% in February 2010 compared with January 2010, following a decrease of 4.7% in January 2010. The seasonally adjusted series fell 1.8% in February 2010. Refinancing (Tables 1 & 2) The number of refinancing commitments for owner occupied housing (trend) decreased 2.7% in February 2010 compared with January 2010, following a decrease of 3.3% in January 2010. The seasonally adjusted series rose 0.5% in February 2010. TYPE OF LENDER (OWNER OCCUPATION) Banks (Tables 3 & 4) The number of owner occupied dwellings financed by banks (trend) decreased 4.2% in February 2010 compared with January 2010, after a decrease of 4.6% in January 2010. The seasonally adjusted series fell 0.7% in February 2010. Non-banks (Tables 3 & 4) The number of owner occupied dwellings financed by non-banks (trend) decreased 2.8% in February 2010 after a decrease of 2.8% in January 2010. The seasonally adjusted series for the number of owner occupied dwellings financed by non-banks decreased 9.4% in February 2010. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) decreased 4.3%. The seasonally adjusted series decreased 6.3%. HOUSING LOAN OUTSTANDINGS (Table 12) At the end of February 2010, the value of outstanding housing loans financed by authorised deposit-taking institutions was $973,754, up $8,733m (0.9%) from the January 2010 closing balance. Owner occupied housing loan outstandings financed by authorised deposit-taking institutions increased $5,278m (0.8%) to $681,256 and investment housing loans financed by authorised deposit-taking institutions increased $3,455m (1.2%) to $292,498m. Bank housing loan outstandings increased $8,524 (0.9%) during February 2010 to reach a closing balance of $925,598m. Owner occupied housing loan outstandings of banks increased $6,090m (1.0%) to $642,321m and investment housing loan outstandings of banks increased $2,434m (0.9%) to $283,277m. Document Selection These documents will be presented in a new window.
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