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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 (down 1,379, 2.3%) in December 2009 compared with November 2009. Decreases were recorded in commitments for the purchase of established dwellings excluding refinancing (down 1,071, 3.1%), the refinancing of established dwellings (down 316, 2.1%) and the purchase of new dwellings (down 35, 1.4%). An increase was recorded for the construction of dwellings (up 43, 0.6%). The seasonally adjusted estimate for the total number of owner occupied housing commitments fell 5.5% in December 2009. Number of Owner Occupied Dwellings Financed - State (Tables 5 & 6) Between November and December 2009, the number of owner occupied housing commitments (trend) decreased in: New South Wales (down 521, 3.0%), Queensland (down 379, 3.1%), Victoria (down 207, 1.4%), South Australia (down 171, 3.5%), Tasmania (down 40, 3.5%), Western Australia (down 18, 0.2%) and the Northern Territory (down 16, 3.6%). A small increase was recorded for the Australian Capital Territory (up 2, 0.2%). The seasonally adjusted estimates decreased in all states and territories except the Australian Capital Territory (up 5, 0.5%). 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 22.1% in November 2009 to 21.0% in December 2009. Between November and December 2009, the average loan size for first home buyers rose $6,200 to $290,100. The average loan size for all owner occupied housing commitments rose $3,100 to $283,000 for the same period. Both of these average loan sizes are the highest on record. Number of Owner Occupied Dwellings Financed Excluding Refinancing (Tables 1 & 2) The number of owner occupied housing commitments excluding refinancing (trend) fell 2.4% in December 2009 compared with November 2009, following a decrease of 2.3% in November 2009. The seasonally adjusted series fell 6.2% in December 2009. 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) increased 0.6% in December 2009 compared with November 2009, following an increase of 1.4% in November 2009. The seasonally adjusted series fell 6.4% in December 2009. Purchase of new dwellings (Tables 1 & 2) The number of finance commitments for the purchase of new dwellings for owner occupation (trend) decreased 1.4% in December 2009 compared with November 2009, following a decrease of 1.5% in November 2009. The seasonally adjusted series rose 3.0% in December 2009. 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 2.8% in December 2009 compared with November 2009, following a decrease of 2.9% in November 2009. The seasonally adjusted series fell 5.7% in December 2009. Refinancing (Tables 1 & 2) The number of refinancing commitments for owner occupied housing (trend) decreased 2.1% in December 2009 compared with November 2009, following a decrease of 2.4% in November 2009. The seasonally adjusted series fell 3.2% in December 2009. TYPE OF LENDER (OWNER OCCUPATION) Banks (Tables 3 & 4) The number of owner occupied dwellings financed by banks (trend) decreased 2.6% in December 2009 compared with November 2009, after a decrease of 2.5% in November 2009. The seasonally adjusted series fell 6.6% in December 2009. Non-banks (Tables 3 & 4) The number of owner occupied dwellings financed by non-banks (trend) fell 0.5% in December 2009 compared with November 2009, after a decrease of 0.6% in November 2009. The seasonally adjusted series for the number of owner occupied dwellings financed by non-banks increased 3.5% in December 2009. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) decreased 7.1%. The seasonally adjusted series decreased 4.3%. HOUSING LOAN OUTSTANDINGS (Table 12) At the end of December 2009, the value of outstanding housing loans financed by authorised deposit-taking institutions was $957,753m, up $10,664m (1.1%) from the November 2009 closing balance. Owner occupied housing loan outstandings financed by authorised deposit-taking institutions increased $7,748m (1.2%) to $670,693m and investment housing loans financed by authorised deposit-taking institutions increased $2,916m (1.0%) to $287,060m. Bank housing loan outstandings increased $10,206m (1.1%) during December 2009 to reach a closing balance of $910,128m. Owner occupied housing loan outstandings of banks increased $7,343m (1.2%) to $631,191m and investment housing loan outstandings of banks increased $2,863m (1.0%) to $278,937m. Document Selection These documents will be presented in a new window.
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