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 0.7% in September 2012 compared with August 2012 and the seasonally adjusted series rose 3.8% in September 2012.

The total value of owner occupied housing commitments (trend) rose ($73m, 0.5%) in September 2012, following a rise ($94m, 0.7%) in August 2012. Rises were recorded in commitments for the purchase of established dwellings (up $46m, 0.4%) and commitments for the purchase of new dwellings (up $26m, 3.2%), while commitments for the construction of dwellings were flat. The seasonally adjusted series for the total value of owner occupied housing commitments rose 1.5% in September 2012.

The total value of investment housing commitments (trend) rose ($78m, 1.1%) in September 2012 compared with August 2012. Rises were recorded in commitments for the purchase of dwellings by others for rent or resale (up $54m, 8.6%) and commitments for the purchase of dwellings by individuals for rent or resale (up $28m, 0.5%), while a fall was recorded in commitments for the construction of dwellings for rent or resale (down $4m, 1.2%). The value of investment housing commitments seasonally adjusted rose 8.6% in September 2012.

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

The number of owner occupied housing commitments (trend) rose (230, 0.5%) in September 2012, following a rise of 0.6% in August 2012. Rises were recorded in commitments for the purchase of established dwellings excluding refinancing (up 302, 1.3%) and commitments for the purchase of new dwellings (up 70, 3.0%), while falls were recorded in commitments for the refinancing of established dwellings (down 128, 0.8%) and commitments for the construction of dwellings (down 14, 0.3%). The seasonally adjusted estimate for the total number of owner occupied housing commitments rose (412, 0.9%) in September 2012.

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

Between September 2012 and August 2012, the number of owner occupied housing commitments (trend) rose in New South Wales (up 86, 0.7%), Victoria (up 28, 0.2%), Queensland (up 21, 0.2%), Tasmania (up 18, 2.3%), the Australian Capital Territory (up 16, 2.1%), the Northern Territory (up 2, 0.4%) and Western Australia (up 1, 0.0%), while a fall was recorded in South Australia (down 21, 0.7%). The seasonally adjusted estimates rose in Victoria (up 284, 2.3%), New South Wales (up 218, 1.6%), the Australian Capital Territory (up 68, 9.2%), Queensland (up 54, 0.6%), Tasmania (up 26, 3.4%) and the Northern Territory (up 25, 7.1%), while falls were recorded in Western Australia (down 157, 2.3%) and South Australia (down 18, 0.6%).


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 19.3% in September 2012 from 18.6% in August 2012. Between September 2012 and August 2012, the average loan size for first home buyers rose $400 to $289,300. The average loan size for all owner occupied housing commitments fell $200 to $300,200 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 1.2% in September 2012, following a rise of 1.4% in August 2012. The seasonally adjusted series rose 1.2% in September 2012, following a rise of 2.9% in August 2012.

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 0.3% in September 2012, after being flat (0.0%) in August 2012. The seasonally adjusted series fell 6.3% in September 2012, following a fall of 0.3% in August 2012.

Purchase of new dwellings (Tables 1 & 2)

The number of finance commitments for the purchase of new dwellings for owner occupation (trend) rose 3.0% in September 2012, following a rise of 4.0% in August 2012. This is the seventh consecutive rise in this series. The seasonally adjusted series rose 9.0% in September 2012, following a rise of 14.9% in August 2012.

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 September 2012, following a rise of 0.4% in August 2012. The seasonally adjusted series rose 1.4% in September 2012, following a rise of 1.7% in August 2012.

Refinancing (Tables 1 & 2)

The number of refinancing commitments for owner occupied housing (trend) fell 0.8% in September 2012, following a fall of 1.1% in August 2012. The seasonally adjusted series rose 0.2% in September 2012, following a rise of 0.3% in August 2012.

TYPE OF LENDER (OWNER OCCUPATION)

Banks (Tables 3 & 4)

The number of commitments for owner occupied dwellings financed by banks (trend) rose 0.6% in September 2012, following a rise of 0.6% in August 2012. The seasonally adjusted series rose 0.9% in September 2012, following a rise of 2.4% in August 2012.

Non-banks (Tables 3 & 4)

The number of commitments for owner occupied dwellings financed by non-banks (trend) fell 0.6% in September 2012, following a fall of 0.4% in August 2012. The seasonally adjusted series rose 0.9% in September 2012, after a fall of 2.3% in August 2012. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) fell 3.4% in September 2012. The seasonally adjusted series fell 6.5% in September 2012, following a fall of 3.3% in August 2012.

HOUSING LOAN OUTSTANDINGS

(Table 12)

At the end of September 2012, the value of outstanding housing loans financed by authorised deposit-taking institutions (ADIs) was $1,173,205m, up $2,406m (0.2%) from the August 2012 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $1,402m (0.2%) to $791,637m and investment housing loan outstandings financed by ADIs rose $1,004m (0.3%) to $381,568m.

Bank housing loan outstandings rose $2,150m (0.2%) during September 2012 to reach a closing balance of $1,123,540m. Owner occupied housing loan outstandings of banks rose $1,170m (0.2%) to $751,307m and investment housing loan outstandings of banks rose $980m (0.3%) to $372,233m.