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 April 2013 compared with March 2013, while the seasonally adjusted series fell 0.2% in April 2013.

The total value of owner occupied housing commitments (trend) rose ($170m, 1.2%) in April 2013. Rises were recorded in commitments for the purchase of established dwellings (up $117m, 1.0%), commitments for the purchase of new dwellings (up $27m, 2.9%) and commitments for the construction of dwellings (up $26m, 1.8%). The seasonally adjusted series for the total value of owner occupied housing commitments fell 0.9% in April 2013.

The total value of investment housing commitments (trend) rose ($98m, 1.2%) in April 2013 compared with March 2013. A rise was recorded in commitments for the purchase of dwellings by individuals for rent or resale (up $127m, 1.9%), while falls were recorded in commitments for the construction of dwellings for rent or resale (down $15m, 3.3%) and purchase of dwellings by others for rent or resale (down $14m, 1.7%). The value of investment housing commitments seasonally adjusted rose 1.1% in April 2013.

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

The number of owner occupied housing commitments (trend) rose (up 636, 1.4%) in April 2013, following a rise of 1.3% in March 2013. Rises were recorded in commitments for the purchase of established dwellings excluding refinancing (up 321, 1.3%), commitments for the refinancing of established dwellings (up 140, 0.9%), commitments for the purchase of new dwellings (up 98, 3.5%) and commitments for the construction of dwellings (up 78, 1.5%). The seasonally adjusted estimate for the total number of owner occupied housing commitments rose (up 390, 0.8%) in April 2013.

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

Between April 2013 and March 2013, the number of owner occupied housing commitments (trend) rose in New South Wales (up 279, 2.1%), Western Australia (up 130, 1.8%), Queensland (up 71, 0.8%), Victoria (up 71, 0.6%), South Australia (up 64, 2.0%), the Australian Capital Territory (up 15, 2.0%) and Tasmania (up 1, 0.1%), while a fall was recorded in the Northern Territory (down 10, 2.7%). The seasonally adjusted estimates rose in South Australia (up 238, 7.6%), Western Australia (up 219, 3.0%), New South Wales (up 209, 1.5%), Queensland (up 116, 1.3%) and Tasmania (up 5, 0.7%), while falls were recorded in Victoria (down 579, 4.4%), the Australian Capital Territory (down 19, 2.5%) and the Northern Territory (down 3, 1.0%).


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 14.3% in April 2013 from 14.2% in March 2013. Between April 2013 and March 2013, the average loan size for first home buyers fell $2,000 to $289,200. The average loan size for all owner occupied housing commitments rose $700 to $301,800 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 1.6% in April 2013, following a rise of 1.6% in March 2013. The seasonally adjusted series fell 0.7% in April 2013, after a rise of 6.3% in March 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 1.5% in April 2013, following a rise of 1.8% in March 2013. This is the fifth consecutive rise since December 2012. The seasonally adjusted series rose 0.2% in April 2013, following a rise of 4.8% in March 2013.

Purchase of new dwellings (Tables 1 & 2)

The number of finance commitments for the purchase of new dwellings for owner occupation (trend) rose 3.5% in April 2013, following a rise of 3.8% in March 2013. This is the fourteenth consecutive rise since March 2012. The seasonally adjusted series fell 0.4% in April 2013, after a rise of 16.0% in March 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 1.2% in April 2013, following a rise of 1.1% in March 2013. The seasonally adjusted series rose 1.0% in April 2013, following a rise of 4.0% in March 2013.

Refinancing (Tables 1 & 2)

The number of refinancing commitments for owner occupied housing (trend) rose 0.9% in April 2013, following a rise of 0.8% in March 2013. The seasonally adjusted series rose 4.1% in April 2013, following a rise of 1.7% in March 2013 and 1.9% in February 2013.

TYPE OF LENDER (OWNER OCCUPATION)

Banks (Tables 3 & 4)

The number of commitments for owner occupied dwellings financed by banks (trend) rose 1.4% in April 2013, following a rise of 1.4% in March 2013. The seasonally adjusted series rose 1.0% in April 2013, following a rise of 4.9% in March 2013.

Non-banks (Tables 3 & 4)

The number of commitments for owner occupied dwellings financed by non-banks (trend) rose 0.7% in April 2013, following a rise of 0.8% in March 2013. The seasonally adjusted series fell 1.4% in April 2013, after a rise of 3.3% in March 2013. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) rose 2.5% in April 2013, following a rise of 2.6% in March 2013. The seasonally adjusted series rose 0.4% in April 2013, after a fall of 4.0% in March 2013.

HOUSING LOAN OUTSTANDINGS

(Table 12)

At the end of April 2013, the value of outstanding housing loans financed by authorised deposit-taking institutions (ADIs) was $1,208,965m, up $6,743m (0.6%) from the March 2013 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $4,224m (0.5%) to $816,737m and investment housing loan outstandings financed by ADIs rose $2,519m (0.6%) to $392,228m.

Bank housing loan outstandings rose $6,538m (0.6%) during April 2013 to reach a closing balance of $1,160,050m. Owner occupied housing loan outstandings of banks rose $4,064m (0.5%) to $777,325m and investment housing loan outstandings of banks rose $2,474m (0.7%) to $382,725m.