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 0.2% in August 2012 compared with July 2012 and the seasonally adjusted series rose 0.6% in August 2012.

The total value of owner occupied housing commitments (trend) rose ($79m, 0.6%) in August 2012, following a rise ($52m, 0.4%) in July 2012. Rises were recorded in commitments for the purchase of new dwellings (up $22m, 2.9%), commitments for the construction of dwellings (up $15m, 1.1%) and commitments for the purchase of established dwellings (up $42m, 0.4%). The seasonally adjusted series for the total value of owner occupied housing commitments rose 1.3% in August 2012.

The total value of investment housing commitments (trend) fell ($31m, 0.5%) in August 2012 compared with July 2012. Falls were recorded in commitments for the construction of dwellings for rent or resale (down $24m, 6.8%), commitments for the purchase of dwellings by others for rent or resale (down $1m, 0.2%) and commitments for the purchase of dwellings by individuals for rent or resale (down $6m, 0.1%). The value of investment housing commitments seasonally adjusted fell 0.8% in August 2012.

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

The number of owner occupied housing commitments (trend) rose (169, 0.4%) in August 2012, following a rise of 0.3% in July 2012. Rises were recorded in commitments for the purchase of new dwellings (up 56, 2.5%), commitments for the purchase of established dwellings excluding refinancing (up 248, 1.1%) and commitments for the construction of dwellings (up 47, 0.9%), while a fall was recorded in commitments for the refinancing of established dwellings (down 181, 1.2%). The seasonally adjusted estimate for the total number of owner occupied housing commitments rose (800, 1.8%) in August 2012.

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

Between August 2012 and July 2012, the number of owner occupied housing commitments (trend) rose in New South Wales (up 57, 0.4%), Western Australia (up 26, 0.4%), Tasmania (up 17, 2.3%), Victoria (up 5, 0.0%) and the Australian Capital Territory (up 2, 0.3%), while falls were recorded in South Australia (down 20, 0.7%) and Queensland (down 17, 0.2%). The Northern Territory was flat. The seasonally adjusted estimates rose in New South Wales (up 416, 3.3%), Queensland (up 340, 4.1%), Western Australia (up 80, 1.2%), Tasmania (up 24, 3.3%) and the Australian Capital Territory (up 19, 2.6%), while falls were recorded in Victoria (down 151, 1.2%), South Australia (down 88, 2.9%) and the Northern Territory (down 23, 6.5%).


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 18.6% in August 2012 from 19.2% in July 2012. Between August 2012 and July 2012, the average loan size for first home buyers fell $2,300 to $288,900. The average loan size for all owner occupied housing commitments fell $700 to $300,400 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) rose 1.2% in August 2012, following a rise of 1.1% in July 2012. The seasonally adjusted series rose 2.6% in August 2012, following a rise of 0.3% in July 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) rose 0.9% in August 2012, following a rise of 1.2% in July 2012. This is the tenth consecutive rise in this series. The seasonally adjusted series rose 0.2% in August 2012, following a rise of 0.1% in July 2012.

Purchase of new dwellings (Tables 1 & 2)

The number of finance commitments for the purchase of new dwellings for owner occupation (trend) rose 2.5% in August 2012, following a rise of 2.7% in July 2012. This is the sixth consecutive rise in this series. The seasonally adjusted series rose 13.9% in August 2012, after a fall of 7.1% in July 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 0.2% in August 2012, after being flat (0.0%) in July 2012. The seasonally adjusted series rose 1.3% in August 2012, after a fall of 0.5% in July 2012.

Refinancing (Tables 1 & 2)

The number of refinancing commitments for owner occupied housing (trend) fell 1.2% in August 2012, following a fall of 1.3% in July 2012. The seasonally adjusted series rose 0.1% in August 2012, after a fall of 2.8% in July 2012.

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 August 2012, following a rise of 0.3% in July 2012. The seasonally adjusted series rose 2.1% in August 2012, after a fall of 0.6% in July 2012.

Non-banks (Tables 3 & 4)

The number of commitments for owner occupied dwellings financed by non-banks (trend) fell 0.4% in August 2012, following a fall of 0.2% in July 2012. The seasonally adjusted series fell 2.5% in August 2012, following a fall of 2.1% in July 2012. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) fell 1.4% in August 2012. The seasonally adjusted series fell 2.7% in August 2012, after a rise of 0.6% in July 2012.

HOUSING LOAN OUTSTANDINGS

(Table 12)

At the end of August 2012, the value of outstanding housing loans financed by authorised deposit-taking institutions (ADIs) was $1,170,774m, up $4,422m (0.4%) from the July 2012 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $2,530m (0.3%) to $790,210m and investment housing loans financed by ADIs rose $1,892m (0.5%) to $380,564m.

Bank housing loan outstandings rose $4,306m (0.4%) during August 2012 to reach a closing balance of $1,121,390m. Owner occupied housing loan outstandings of banks rose $2,447m (0.3%) to $750,137m and investment housing loan outstandings of banks rose $1,859m (0.5%) to $371,253m.