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 0.6% in July 2014 compared with June 2014, and the seasonally adjusted series rose 2.7% in July 2014.

The total value of owner occupied housing commitments (trend) rose (up $51m, 0.3%) in July 2014. A rise was recorded in commitments for the purchase of established dwellings (up $43m, 0.3%) and commitments for the purchase of new dwellings (up $13m, 1.3%), while a fall was recorded in commitments for the construction of dwellings (down $5m, 0.3%). The seasonally adjusted series for the total value of owner occupied housing commitments was flat in July 2014.

The total value of investment housing commitments (trend) rose (up $129m, 1.2%) in July 2014 compared with June 2014. A rise was recorded in commitments for the purchase of dwellings by individuals for rent or resale (up $119m, 1.3%) and commitments for the purchase of dwellings by others for rent or resale (up $24m, 2.2%), while commitments for the construction of dwellings for rent or resale fell (down $14m, 2.4%). The value of investment housing commitments seasonally adjusted rose 6.8% in July 2014.

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

The number of owner occupied housing commitments (trend) was flat in July 2014, after a rise of 0.1% in June 2014. A rise was recorded in commitments for the refinancing of established dwellings (up 129, 0.7%) and commitments for the purchase of new dwellings (up 36, 1.3%), while a fall was recorded in commitments for the purchase of established dwellings excluding refinancing (down 152, 0.6%) and commitments for the construction of dwellings (down 8, 0.1%). The seasonally adjusted estimate for the total number of owner occupied housing commitments rose 0.3% in July 2014.

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

Between June 2014 and July 2014, the number of owner occupied housing commitments (trend) rose in New South Wales (up 38, 0.2%), Western Australia (up 12, 0.2%), Victoria (up 9, 0.1%), Tasmania (up 4, 0.4%), South Australia (up 4, 0.1%), and the Northern Territory (up 3, 0.7%), while a fall was recorded in Queensland (down 11, 0.1%), and the Australian Capital Territory was flat in July 2014. The seasonally adjusted estimates rose in Victoria (up 165, 1.2%), South Australia (up 44, 1.3%), Queensland (up 37, 0.4%), the Australian Capital Territory (up 23, 2.9%) and the Northern Territory (up 17, 4.8%), while falls were recorded in Tasmania (down 81, 8.5%), Western Australia (down 4, 0.1%), and New South Wales was flat in July 2014.


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 12.2% in July 2014 from 13.2% in June 2014. Between June 2014 and July 2014, the average loan size for first home buyers fell $1,200 to $307,400. The average loan size for all owner occupied housing commitments rose $500 to $327,500 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 0.4% in July 2014, following a fall of 0.3% in June 2014. The seasonally adjusted series fell 0.7% in July 2014, after a rise of 0.4% in June 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) fell 0.1% in July 2014, after a rise of 0.1% in June 2014. The seasonally adjusted series fell 1.3% in July 2014, after a rise of 1.1% in June 2014.

Purchase of new dwellings (Tables 1 & 2)

The number of finance commitments for the purchase of new dwellings for owner occupation (trend) rose 1.3% in July 2014, following a rise of 1.2% in June 2014. The seasonally adjusted series rose 0.5% in July 2014, following a rise of 4.6% in June 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) fell 0.1% in July 2014, after being flat in June 2014. The seasonally adjusted series rose 0.6% in July 2014, after a fall of 0.4% in June 2014.

Refinancing (Tables 1 & 2)

The number of refinancing commitments for owner occupied housing (trend) rose 0.7% in July 2014, following a rise of 0.9% in June 2014. The seasonally adjusted series rose 2.4% in July 2014, after a fall of 0.6% in June 2014.

TYPE OF LENDER (OWNER OCCUPATION)

Banks (Tables 3 & 4)

The number of commitments for owner occupied dwellings financed by banks (trend) fell 0.1% in July 2014, following a fall of 0.1% in June 2014. The seasonally adjusted series rose 0.6% in July 2014, after a fall of 0.1% in June 2014.

Non-banks (Tables 3 & 4)

The number of commitments for owner occupied dwellings financed by non-banks (trend) rose 1.2% in July 2014, following a rise of 1.8% in June 2014. The seasonally adjusted series fell 2.3% in July 2014, after a rise of 2.4% in June 2014. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) was flat in July 2014, following being flat in June 2014. The seasonally adjusted series rose 1.1% in July 2014, following a rise of 7.0% in June 2014.

HOUSING LOAN OUTSTANDINGS

(Table 12)

At the end of July 2014, the value of outstanding housing loans financed by Authorised Deposit-taking Institutions (ADIs) was $1,319,046m, up $6,683m (0.5%) from the June 2014 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $3,317m (0.4%) to $870,880m and investment housing loan outstandings financed by ADIs rose $3,366m (0.8%) to $448,166m.

Bank housing loan outstandings rose $7,156m (0.6%) during July 2014 to reach a closing balance of $1,272,395m. Owner occupied housing loan outstandings of banks rose $3,565m (0.4%) to $833,251m and investment housing loan outstandings of banks rose $3,591m (0.8%) to $439,144m.