5609.0 - Housing Finance, Australia, Apr 2012 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 08/06/2012   
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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 0.2% in April 2012 compared with March 2012, while the seasonally adjusted series rose 1.2% in April 2012.

The total value of owner occupied housing commitments (trend) fell ($63m, 0.5%) in April 2012, following a fall of 0.5% in March 2012. A fall was recorded in commitments for the purchase of established dwellings (down $76m, 0.7%), while rises were recorded in commitments for the purchase of new dwellings (up $6m, 1.0%) and commitments for the construction of dwellings (up $6m, 0.4%). The seasonally adjusted series for the total value of owner occupied housing commitments rose 0.9% in April 2012.

The total value of investment housing commitments (trend) rose (up $21m, 0.3%) in April 2012 compared with March 2012. Rises were recorded in commitments for the purchase of dwellings by individuals for rent or resale (up $14m, 0.2%), commitments for the construction of dwellings for rent or resale (up $5m, 1.1%) and commitments for the purchase of dwellings by others for rent or resale (up $2m, 0.4%). The value of investment housing commitments seasonally adjusted rose 1.7% in April 2012.

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 (189, 0.4%) in April 2012, following a fall of 0.4% in March 2012. A fall was recorded in commitments for the purchase of established dwellings excluding refinancing (down 417, 1.8%), while rises were recorded in commitments for the refinancing of established dwellings (up 171, 1.0%), commitments for the construction of dwellings (up 42, 0.8%) and commitments for the purchase of new dwellings (up 16, 0.8%). The seasonally adjusted estimate for the total number of owner occupied housing commitments rose (113, 0.2%) in April 2012.

Graph: Number of Owner Occupied Dwellings Financed


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

Between April 2012 and March 2012, the number of owner occupied housing commitments (trend) fell in New South Wales (down 337, 2.5%), Tasmania (down 19, 2.3%) and the Australian Capital Territory (down 1, 0.1%), while rises were recorded in Western Australia (up 90, 1.3%), Queensland (up 85, 0.9%), Victoria (up 43, 0.3%), South Australia (up 9, 0.3%) and the Northern Territory (up 3, 1.0%). The seasonally adjusted estimates rose in Queensland (up 175, 2.0%), Victoria (up 36, 0.3%), Tasmania (up 14, 1.9%) and the Australian Capital Territory (up 2, 0.2%), while falls were recorded in New South Wales (down 107, 0.8%), Western Australia (down 86, 1.2%), the Northern Territory (down 75, 18.8%) and South Australia (down 63, 2.0%).


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 16.8% in April 2012 from 16.4% in March 2012. Between April 2012 and March 2012, the average loan size for first home buyers rose $600 to $280,200. The average loan size for all owner occupied housing commitments rose $4,400 to $288,900 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 2012, following a fall of 1.2% in March 2012. The seasonally adjusted series rose 0.2% in April 2012, following a rise of 0.5% in March 2012.

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 0.8% in April 2012, following a rise of 1.0% in March 2012. The seasonally adjusted series fell 0.6% in April 2012, after a rise of 0.2% in March 2012.

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) rose 0.8% in April 2012, following a rise of 0.4% in March 2012. The seasonally adjusted series rose 9.3% in April 2012, following a rise of 14.9% in March 2012.

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 0.6% in April 2012, following a fall of 0.6% in March 2012. The seasonally adjusted series fell 0.1% in April 2012, after a rise of 0.3% in March 2012.

Graph: Purchase of established dwellings including refinancing


Refinancing (Tables 1 & 2)

The number of refinancing commitments for owner occupied housing (trend) rose 1.0% in April 2012, following a rise of 1.0% in March 2012. The seasonally adjusted series rose 0.3% in April 2012, following a rise of 1.5% in March 2012.

Graph: Refinancing


TYPE OF LENDER (OWNER OCCUPATION)

Banks (Tables 3 & 4)

The number of commitments for owner occupied dwellings financed by banks (trend) fell 0.5% in April 2012, following a fall of 0.4% in March 2012. The seasonally adjusted series was flat (0.0%) in April 2012, after a rise of 0.3% in March 2012.

Graph: Banks


Non-banks (Tables 3 & 4)

The number of commitments for owner occupied dwellings financed by non-banks (trend) rose 0.3% in April 2012, following a rise of 0.2% in March 2012. The seasonally adjusted series rose 1.8% in April 2012, following a rise of 5.3% in March 2012. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) fell 3.4% in April 2012. The seasonally adjusted series fell 9.6% in April 2012, after a rise of 21.5% in March 2012.

Graph: Non-banks


HOUSING LOAN OUTSTANDINGS

(Table 12)

At the end of April 2012, the value of outstanding housing loans financed by authorised deposit-taking institutions (ADIs) was $1,155,456m, up $5,940m (0.5%) from the March 2012 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $3,834m (0.5%) to $779,324m and investment housing loans financed by ADIs rose $2,106m (0.6%) to $376,132m.

Bank housing loan outstandings rose $8,054m (0.7%) during April 2012 to reach a closing balance of $1,106,389m. Owner occupied housing loan outstandings of banks rose $5,645m (0.8%) to $739,246m and investment housing loan outstandings of banks rose $2,409m (0.7%) to $367,143m.