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 0.9% in July 2013 compared with June 2013 and the seasonally adjusted series rose 1.1% in July 2013.

The total value of owner occupied housing commitments (trend) rose ($149m, 1.0%) in July 2013. Rises were recorded in commitments for the purchase of established dwellings (up $129m, 1.0%), commitments for the purchase of new dwellings (up $14m, 1.4%) and commitments for the construction of dwellings (up $6m, 0.4%). The seasonally adjusted series for the total value of owner occupied housing commitments was flat in July 2013.

The total value of investment housing commitments (trend) rose ($65m, 0.8%) in July 2013 compared with June 2013. A rise was recorded in commitments for the purchase of dwellings by individuals for rent or resale (up $88m, 1.2%), while falls were recorded in commitments for the purchase of dwellings by others for rent or resale (down $21m, 3.1%) and commitments for the construction of dwellings for rent or resale (down $2m, 0.5%). The value of investment housing commitments seasonally adjusted rose 2.9% in July 2013.

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

The number of owner occupied housing commitments (trend) rose (up 835, 1.6%) in July 2013, following a rise of 2.1% in June 2013. Rises were recorded in commitments for the purchase of established dwellings excluding refinancing (up 480, 1.8%), commitments for the refinancing of established dwellings (up 303, 1.8%), commitments for the purchase of new dwellings (up 43, 1.4%) and commitments for the construction of dwellings (up 8, 0.1%). The seasonally adjusted estimate for the total number of owner occupied housing commitments rose (up 1,221, 2.4%) in July 2013.

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

Between July 2013 and June 2013, the number of owner occupied housing commitments (trend) rose in New South Wales (up 192, 1.3%), Queensland (up 186, 1.9%), Victoria (up 183, 1.4%), Western Australia (up 93, 1.2%), South Australia (up 58, 1.7%), the Australian Capital Territory (up 16, 2.0%), Tasmania (up 12, 1.6%) and Northern Territory (up 1, 0.4%). The seasonally adjusted estimates rose in Victoria (up 444, 3.3%), New South Wales (up 331, 2.3%), Western Australia (up 137, 1.8%), the Australian Capital Territory (up 29, 3.6%), Tasmania (up 15, 1.9%), Northern Territory (up 13, 3.7%) and South Australia (up 4, 0.1%), while a fall was recorded in Queensland (down 87, 0.9%).


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 to 14.7% in July 2013 from 15.1% in June 2013. Between July 2013 and June 2013, the average loan size for first home buyers fell $1,100 to $287,300. The average loan size for all owner occupied housing commitments fell $4,700 to $299,700 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 1.5% in July 2013, following a rise of 2.0% in June 2013. The seasonally adjusted series rose 2.7% in July 2013, following a rise of 2.1% in June 2013.

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 0.2% in July 2013, following a rise of 0.4% in June 2013. This is the eighth consecutive rise since December 2012. The seasonally adjusted series fell 2.1% in July 2013, after a rise of 0.7% in June 2013.

Purchase of new dwellings (Tables 1 & 2)

The number of finance commitments for the purchase of new dwellings for owner occupation (trend) rose 1.4% in July 2013, following a rise of 2.1% in June 2013. This is the seventeenth consecutive rise since March 2012. The seasonally adjusted series rose 5.9% in July 2013, after a fall of 0.6% in June 2013.

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 1.8% in July 2013, following a rise of 2.3% in June 2013. This is the seventh consecutive rise since January 2013. The seasonally adjusted series rose 2.7% in July 2013, following a rise of 3.1% in June 2013..

Refinancing (Tables 1 & 2)

The number of refinancing commitments for owner occupied housing (trend) rose 1.8% in July 2013, following a rise of 2.3% in June 2013. The seasonally adjusted series rose 1.7% in July 2013, following a rise of 3.7% in June 2013.

TYPE OF LENDER (OWNER OCCUPATION)

Banks (Tables 3 & 4)

The number of commitments for owner occupied dwellings financed by banks (trend) rose 1.7% in July 2013, following a rise of 2.2% in June 2013. The seasonally adjusted series rose 1.9% in July 2013, following a rise of 3.0% in June 2013.

Non-banks (Tables 3 & 4)

The number of commitments for owner occupied dwellings financed by non-banks (trend) rose 0.9% in July 2013, following a rise of 1.2% in June 2013. The seasonally adjusted series rose 8.7% in July 2013, after a fall of 2.6% in June 2013. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) fell 0.4% in July 2013, after being flat in June 2013. The seasonally adjusted series fell 2.0% in July 2013, after a rise of 2.3% in June 2013.

HOUSING LOAN OUTSTANDINGS

(Table 12)

At the end of July 2013, the value of outstanding housing loans financed by authorised deposit-taking institutions (ADIs) was $1,229,582m, up $5,492m (0.4%) from the June 2013 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $3,233m (0.4%) to $828,795m and investment housing loan outstandings financed by ADIs rose $2,259m (0.6%) to $400,787m.

Bank housing loan outstandings rose $5,413m (0.5%) during July 2013 to reach a closing balance of $1,181,517m. Owner occupied housing loan outstandings of banks rose $3,161m (0.4%) to $790,085m and investment housing loan outstandings of banks rose $2,252m (0.6%) to $391,432m.