5609.0 - Housing Finance, Australia, Nov 2012 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 14/01/2013   
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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 1.0% in November 2012 compared with October 2012, while the seasonally adjusted series fell 0.8% in November 2012.

The total value of owner occupied housing commitments (trend) rose ($61m, 0.4%) in November 2012, following a rise ($74m, 0.5%) in October 2012. Rises were recorded in commitments for the purchase of established dwellings (up $51m, 0.4%), commitments for the purchase of new dwellings (up $25m, 2.9%), while commitments for the construction of dwellings fell ($14m, 1.0%). The seasonally adjusted series for the total value of owner occupied housing commitments rose 0.6% in November 2012.

The total value of investment housing commitments (trend) rose ($140m, 2.0%) in November 2012 compared with October 2012. Rises were recorded in commitments for the purchase of dwellings by individuals for rent or resale (up $57m, 0.9%), commitments for the purchase of dwellings by others for rent or resale (up $55m, 7.8%) and commitments for the construction of dwellings for rent or resale (up $28m, 7.0%). The value of investment housing commitments seasonally adjusted fell 3.3% in November 2012, following rises of 5.4% and 9.7% in the previous two months.

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 (184, 0.4%) in November 2012, following a rise of 0.5% in October 2012. Rises were recorded in commitments for the purchase of established dwellings excluding refinancing (up 154, 0.6%), commitments for the purchase of new dwellings (up 55, 2.2%) and commitments for the refinancing of established dwellings (up 46, 0.3%), while a fall was recorded in commitments for the construction of dwellings (down 71, 1.4%). The seasonally adjusted estimate for the total number of owner occupied housing commitments fell (249, 0.5%) in November 2012.

Graph: Number of Owner Occupied Dwellings Financed


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

Between November 2012 and October 2012, the number of owner occupied housing commitments (trend) rose in Queensland (up 75, 0.9%), Western Australia (up 23, 0.3%), Victoria (up 10, 0.1%), the Northern Territory (up 8, 2.1%), the Australian Capital Territory (up 4, 0.5%), while falls were recorded in South Australia (down 17, 0.6%) and Tasmania (down 4, 0.5%). New South Wales was flat. The seasonally adjusted estimates fell in New South Wales (down 354, 2.7%), South Australia (down 183, 6.0%), Queensland (down 92, 1.0%) and Tasmania (down 26, 3.3%), while rises were recorded in Victoria (up 114, 0.9%), Western Australia (up 72, 1.1%), the Australian Capital Territory (up 25, 3.5%) and the Northern Territory (up 9, 2.3%).


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 to 15.8% in November 2012 from 18.7% in October 2012. Between November 2012 and October 2012, the average loan size for first home buyers fell $200 to $287,800. The average loan size for all owner occupied housing commitments rose $7,800 to $306,700 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 0.4% in November 2012, following a rise of 0.7% in October 2012. The seasonally adjusted series fell 1.3% in November 2012, following a fall of 0.2% in October 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) fell 1.4% in November 2012, following a fall of 1.4% in October 2012. This is the fifth consecutive fall in this series. The seasonally adjusted series fell 1.8% in November 2012, following a fall of 0.2% in October 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 2.2% in November 2012, following a rise of 2.9% in October 2012. This is the ninth consecutive rise in this series. The seasonally adjusted series fell 10.3% in November 2012, after a rise of 3.7% in October 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) rose 0.5% in November 2012, following a rise of 0.6% in October 2012. The seasonally adjusted series rose 0.3% in November 2012, after a fall of 0.1% in October 2012.

Graph: Purchase of established dwellings including refinancing


Refinancing (Tables 1 & 2)

The number of refinancing commitments for owner occupied housing (trend) rose 0.3% in November 2012, following a rise of 0.1% in October 2012. The seasonally adjusted series rose 1.1% in November 2012, following a rise of 0.7% in October 2012.

Graph: Refinancing


TYPE OF LENDER (OWNER OCCUPATION)

Banks (Tables 3 & 4)

The number of commitments for owner occupied dwellings financed by banks (trend) rose 0.4% in November 2012, following a rise of 0.5% in October 2012. The seasonally adjusted series fell 0.5% in November 2012, after being flat in October 2012.

Graph: Banks


Non-banks (Tables 3 & 4)

The number of commitments for owner occupied dwellings financed by non-banks (trend) fell 0.2% in November 2012, following a fall of 0.3% in October 2012. The seasonally adjusted series fell 0.8% in November 2012, after a rise of 0.8% in October 2012. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) fell 2.9% in November 2012. The seasonally adjusted series rose 7.6% in November 2012, after a fall of 10.1% in October 2012.

Graph: Non-banks


HOUSING LOAN OUTSTANDINGS

(Table 12)

At the end of November 2012, the value of outstanding housing loans financed by authorised deposit-taking institutions (ADIs) was $1,180,162m, up $6,282m (0.5%) from the October 2012 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $4,112m (0.5%) to $797,505m and investment housing loan outstandings financed by ADIs rose $2,170m (0.6%) to $382,657m.

Bank housing loan outstandings rose $5,655m (0.5%) during November 2012 to reach a closing balance of $1,129,558m. Owner occupied housing loan outstandings of banks rose $3,571m (0.5%) to $756,789m and investment housing loan outstandings of banks rose $2,084m (0.6%) to $372,769m.