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 0.4% in April 2014 compared with March 2014, and the seasonally adjusted series rose 1.7% in April 2014.

The total value of owner occupied housing commitments (trend) rose (up $65m, 0.4%) in April 2014. Rises were recorded in commitments for the purchase of established dwellings (up $59m, 0.4%) and commitments for the construction of dwellings (up $19m, 1.1%), while commitments for the purchase of new dwellings fell (down $13m, 1.4%). The seasonally adjusted series for the total value of owner occupied housing commitments rose 1.4% in April 2014.

The total value of investment housing commitments (trend) rose ($56m, 0.5%) in April 2014 compared with March 2014. Rises were recorded in commitments for the construction of dwellings for rent or resale (up $20m, 2.7%), commitments for the purchase of dwellings by others for rent or resale (up $19m, 1.9%) and commitments for the purchase of dwellings by individuals for rent or resale (up $17m, 0.2%), The value of investment housing commitments seasonally adjusted rose 2.3% in April 2014.

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

The number of owner occupied housing commitments (trend) rose (up 64, 0.1%) in April 2014, following a rise of 0.1% in March 2014. Rises were recorded in commitments for the refinancing of established dwellings (up 92, 0.5%) and in commitments for the construction of dwellings (up 65, 1.1%), while falls were recorded in commitments for the purchase of established dwellings excluding refinancing (down 59, 0.2%) and commitments for the purchase of new dwellings (down 34, 1.3%). The seasonally adjusted estimate for the total number of owner occupied housing commitments was flat in April 2014.

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

Between April 2014 and March 2014, the number of owner occupied housing commitments (trend) rose in Victoria (up 55, 0.4%), South Australia (up 9, 0.3%), the Australian Capital Territory (up 7, 0.9%), Queensland (up 5, 0.1%), Western Australia (up 5, 0.1%) and Tasmania (up 2, 0.2%), while a fall was recorded in New South Wales (down 61, 0.4%). The Northern Territory was flat. The seasonally adjusted estimates rose in South Australia (up 71, 2.1%), Queensland (up 40, 0.4%), Victoria (up 29, 0.2%), Tasmania (up 17,1.9%) and the Northern Territory (up 11, 3.4%), while falls were recorded in New South Wales (down 80, 0.5%), the Australian Capital Territory (down 59, 7.0%) and Western Australia (down 5, 0.1%).


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 12.3% in April 2014 from 12.6% in March 2014. Between April 2014 and March 2014, the average loan size for first home buyers fell $1,900 to $300,900. The average loan size for all owner occupied housing commitments rose $4,100 to $323,400 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) fell 0.1% in April 2014, following a fall of 0.1% in March 2014. The seasonally adjusted series fell 0.3% in April 2014, following a fall of 0.7% in March 2014.

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 1.1% in April 2014, following a rise of 1.5% in March 2014. This is the seventeenth consecutive rise since December 2012. The seasonally adjusted series fell 1.1% in April 2014, after a rise of 1.8% in March 2014.

Purchase of new dwellings (Tables 1 & 2)

The number of finance commitments for the purchase of new dwellings for owner occupation (trend) fell 1.3% in April 2014, following a fall of 1.4% in March 2014. The seasonally adjusted series fell 1.5% in April 2014, after a rise of 1.7% in March 2014.

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 0.1% in April 2014, after being flat in March 2014. The seasonally adjusted series rose 0.3% in April 2014, after a fall of 1.3% in March 2014.

Refinancing (Tables 1 & 2)

The number of refinancing commitments for owner occupied housing (trend) rose 0.5% in April 2014, following a rise of 0.4% in March 2014. The seasonally adjusted series rose 0.6% in April 2014, after a fall of 0.9% in March 2014.

TYPE OF LENDER (OWNER OCCUPATION)

Banks (Tables 3 & 4)

The number of commitments for owner occupied dwellings financed by banks (trend) was flat in April 2014, after a fall of 0.1% in March 2014. The seasonally adjusted series fell 0.4% in April 2014, following a fall of 0.8% in March 2014.

Non-banks (Tables 3 & 4)

The number of commitments for owner occupied dwellings financed by non-banks (trend) rose 1.8% in April 2014, following a rise of 2.1% in March 2014. The seasonally adjusted series rose 4.9% in April 2014, after a fall of 0.4% in March 2014. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) rose 0.2% in April 2014, following a rise of 0.1% in March 2014. The seasonally adjusted series fell 0.5% in April 2014, after a rise of 3.4% in March 2014.

HOUSING LOAN OUTSTANDINGS

(Table 12)

At the end of April 2014, the value of outstanding housing loans financed by authorised deposit-taking institutions (ADIs) was $1,291,989m, up $8,706m (0.7%) from the March 2014 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $5,017m (0.6%) to $863,258m and investment housing loan outstandings financed by ADIs rose $3,689m (0.9%) to $428,731m.

Bank housing loan outstandings rose $8,704m (0.7%) during April 2014 to reach a closing balance of $1,245,313m. Owner occupied housing loan outstandings of banks rose $5,011m (0.6%) to $825,710m and investment housing loan outstandings of banks rose $3,693m (0.9%) to $419,603m.