5609.0 - Housing Finance, Australia, Apr 2011 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 08/06/2011   
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SUMMARY OF FINDINGS


DWELLINGS FINANCED

Value of Dwellings Financed (Tables 11, 1 & 2)

The total value of dwelling commitments excluding alterations and additions (trend) fell 1.2% in April 2011 compared with March 2011, while the seasonally adjusted series rose 3.7% in April 2011.

The total value of owner occupied housing commitments (trend) fell 1.1% (down $148m) in April 2011, following a fall of 1.3% in March 2011. Falls were recorded in commitments for the purchase of established dwellings (down $109m, 0.9%), the purchase of new dwellings (down $23m, 3.6%) and the construction of dwellings (down $15m, 1.2%). The seasonally adjusted series for the value of owner occupied commitments rose 6.3% in April 2011.

The total value of investment housing commitments (trend) fell 1.6% (down $97m) in April 2011 compared with March 2011, following a fall of 1.8% in March 2011. Falls were recorded in commitments for the purchase of dwellings by individuals for rent or resale (down $88m, 1.7%), the construction of dwellings for rent or resale (down $5m, 1.3%) and the purchase of dwellings by others for rent or resale (down $4m, 0.6%). The value of investment housing commitments seasonally adjusted fell 1.6% in April 2011.

INVESTMENT HOUSING - TOTAL
Graph: INVESTMENT HOUSING - TOTAL



Number of Owner Occupied Dwellings Financed (Tables 1 & 2)

The number of owner occupied housing commitments (trend) fell (down 619, 1.3%) in April 2011 compared with March 2011. Falls were recorded in commitments for the purchase of established dwellings excluding refinancing (down 262, 1.0%), the refinancing of established dwellings (down 222, 1.5%), the purchase of new dwellings (down 73, 3.7%) and the construction of dwellings (down 61, 1.3%). The seasonally adjusted estimate for the total number of owner occupied housing commitments rose 4.8% in April 2011.

Graph: Number of Owner Occupied Dwellings Financed


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

Between March 2011 and April 2011, the number of owner occupied housing commitments (trend) fell in New South Wales (down 221, 1.5%), Queensland (down 176, 2.1%), Victoria (down 124, 1.0%), South Australia (down 65, 1.8%), the Australian Capital Territory (down 13, 1.4%) and Tasmania (down 11, 1.3%). A rise was recorded in Western Australia (up 34, 0.6%) while the Northern Territory was flat. The seasonally adjusted estimates rose in all states and territories except South Australia (down 42, 1.2%) and the Northern Territory (down 4, 1.3%).


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 fell from 16.0% in March 2011 to 15.8% in April 2011. Between March 2011 and April 2011, the average loan size for first home buyers rose $5,900 to $285,400. The average loan size for all owner occupied housing commitments rose $4,100 to $289,600 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 1.2% in April 2011 compared with March 2011, following a fall of 1.6% in March 2011. The seasonally adjusted series rose 5.2% in April 2011.

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) fell 1.3% in April 2011 compared with March 2011, following a fall of 1.6% in March 2011. The seasonally adjusted series rose 0.4% in April 2011.

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 3.7% in April 2011 compared with March 2011, following a fall of 4.3% in March 2011. The seasonally adjusted series rose 8.9% in April 2011, following a rise of 2.8% in March 2011.

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) fell 1.2% in April 2011 compared with March 2011, following a fall of 1.4% in March 2011. The seasonally adjusted series rose 5.1% in April 2011.

Graph: Purchase of established dwellings including refinancing


Refinancing (Tables 1 & 2)

The number of refinancing commitments for owner occupied housing (trend) fell 1.5% in April 2011 compared with March 2011, following a fall of 1.5% in March 2011. The seasonally adjusted series rose 3.7% in April 2011.

Graph: Refinancing


TYPE OF LENDER (OWNER OCCUPATION)

Banks (Tables 3 & 4)

The number of commitments for owner occupied dwellings financed by banks (trend) fell 0.6% in April 2011 compared with March 2011, following a fall of 0.9% in March 2011. The seasonally adjusted series rose 4.6% in April 2011.

Graph: Banks


Non-banks (Tables 3 & 4)

The number of commitments for owner occupied dwellings financed by non-banks (trend) fell 6.4% in April 2011, following a fall of 5.9% in March 2011. The seasonally adjusted series rose 5.6% in April 2011, after falls of more than 9% in the three previous months. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) fell 4.9%. The seasonally adjusted series was flat (0.0%) in April 2011.

Graph: Non-banks


HOUSING LOAN OUTSTANDINGS

(Table 12)

At the end of April 2011, the value of outstanding housing loans financed by authorised deposit-taking institutions (ADIs) was $1,080,474m, up $6,146m (0.6%) from the March 2011 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $4,846m (0.6%) to $755,990m and investment housing loans financed by ADIs rose $1,300m (0.4%) to $324,484m.

Bank housing loan outstandings rose $5,903m (0.6%) during April 2011 to reach a closing balance of $1,024,769m. Owner occupied housing loan outstandings of banks rose $4,675m (0.7%) to $710,938m and investment housing loan outstandings of banks rose $1,228m (0.4%) to $313,831m.