5609.0 - Housing Finance, Australia, Jun 2013 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 07/08/2013   
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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) rose 1.2% in June 2013 compared with May 2013 and the seasonally adjusted series rose 1.2% in June 2013.

The total value of owner occupied housing commitments (trend) rose ($229m, 1.5%) in June 2013. Rises were recorded in commitments for the purchase of established dwellings (up $189m, 1.5%), commitments for the purchase of new dwellings (up $20m, 2.0%) and commitments for the construction of dwellings (up $20m, 1.3%). The seasonally adjusted series for the total value of owner occupied housing commitments rose 2.1% in June 2013.

The total value of investment housing commitments (trend) rose ($55m, 0.7%) in June 2013 compared with May 2013. A rise was recorded in commitments for the purchase of dwellings by individuals for rent or resale (up $89m, 1.2%), while falls were recorded in commitments for the purchase of dwellings by others for rent or resale (down $31m, 4.3%) and commitments for the construction of dwellings for rent or resale (down $3m, 0.7%). The value of investment housing commitments seasonally adjusted fell 0.5% in June 2013.

INVESTMENT HOUSING - TOTAL
Graph: INVESTMENT HOUSING - TOTAL



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

The number of owner occupied housing commitments (trend) rose (up 945, 1.9%) in June 2013, following a rise of 2.2% in May 2013. Rises were recorded in commitments for the purchase of established dwellings excluding refinancing (up 517, 2.0%), commitments for the refinancing of established dwellings (up 329, 2.1%), commitments for the purchase of new dwellings (up 52, 1.8%) and commitments for the construction of dwellings (up 47, 0.9%). The seasonally adjusted estimate for the total number of owner occupied housing commitments rose (up 1,359, 2.7%) in June 2013.

Graph: Number of Owner Occupied Dwellings Financed


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

Between June 2013 and May 2013, the number of owner occupied housing commitments (trend) rose in New South Wales (up 236, 1.7%), Queensland (up 219, 2.3%), Western Australia (up 131, 1.7%), Victoria (up 106, 0.8%), South Australia (up 72, 2.1%), the Australian Capital Territory (up 17, 2.2%), Tasmania (up 10, 1.3%) and Northern Territory (up 1, 0.1%). The seasonally adjusted estimates rose in Queensland (up 413, 4.4%), Victoria (up 245, 1.9%), New South Wales (up 135, 1.0%), South Australia (up 96, 2.8%), the Australian Capital Territory (up 41, 5.4%), Tasmania (up 10, 1.2%) and the Northern Territory (up 4, 1.3%), while a fall was recorded in Western Australia (down 122, 1.6%).


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 15.1% in June 2013 from 14.6% in May 2013. Between June 2013 and May 2013, the average loan size for first home buyers fell $1,500 to $288,500. The average loan size for all owner occupied housing commitments rose $2,100 to $304,300 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) rose 1.8% in June 2013, following a rise of 2.2% in May 2013. The seasonally adjusted series rose 2.3% in June 2013, following a rise of 2.1% in May 2013.

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 0.9% in June 2013, following a rise of 1.2% in May 2013. This is the seventh consecutive rise since December 2012. The seasonally adjusted series rose 0.9% in June 2013, following a rise of 0.5% in May 2013.

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 1.8% in June 2013, following a rise of 2.8% in May 2013. This is the sixteenth consecutive rise since March 2012. The seasonally adjusted series rose 0.2% in June 2013, after a fall of 0.1% in May 2013.

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) rose 2.1% in June 2013, following a rise of 2.2% in May 2013. This is the sixth consecutive rise since January 2013. The seasonally adjusted series rose 3.2% in June 2013, following a rise of 2.0% in May 2013.

Graph: Purchase of established dwellings including refinancing


Refinancing (Tables 1 & 2)

The number of refinancing commitments for owner occupied housing (trend) rose 2.1% in June 2013, following a rise of 2.1% in May 2013. The seasonally adjusted series rose 3.8% in June 2013, following a rise of 0.8% in May 2013 and 4.3% in April 2013.

Graph: Refinancing


TYPE OF LENDER (OWNER OCCUPATION)

Banks (Tables 3 & 4)

The number of commitments for owner occupied dwellings financed by banks (trend) rose 2.0% in June 2013, following a rise of 2.3% in May 2013. The seasonally adjusted series rose 3.2% in June 2013, following a rise of 1.7% in May 2013.

Graph: Banks


Non-banks (Tables 3 & 4)

The number of commitments for owner occupied dwellings financed by non-banks (trend) rose 0.1% in June 2013, following a rise of 0.1% in May 2013. The seasonally adjusted series fell 3.6% in June 2013, after a rise of 1.3% in May 2013. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) rose 0.8% in June 2013, following a rise of 0.9% in May 2013. The seasonally adjusted series rose 2.0% in June 2013, after a fall of 1.2% in May 2013.

Graph: Non-banks


HOUSING LOAN OUTSTANDINGS

(Table 12)

At the end of June 2013, the value of outstanding housing loans financed by authorised deposit-taking institutions (ADIs) was $1,224,091m, up $8,404m (0.7%) from the May 2013 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $4,850m (0.6%) to $825,563m and investment housing loan outstandings financed by ADIs rose $3,554m (0.9%) to $398,528m.

Bank housing loan outstandings rose $9,374m (0.8%) during June 2013 to reach a closing balance of $1,176,104m. Owner occupied housing loan outstandings of banks rose $5,669m (0.7%) to $786,924m and investment housing loan outstandings of banks rose $3,705m (1.0%) to $389,180m.