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 May 2013 compared with April 2013, while the seasonally adjusted series rose 2.0% in May 2013.

The total value of owner occupied housing commitments (trend) rose ($205m, 1.4%) in May 2013. Rises were recorded in commitments for the purchase of established dwellings (up $150m, 1.2%), commitments for the purchase of new dwellings (up $31m, 3.2%) and commitments for the construction of dwellings (up $25m, 1.6%). The seasonally adjusted series for the total value of owner occupied housing commitments rose 2.3% in May 2013.

The total value of investment housing commitments (trend) rose ($75m, 0.9%) in May 2013 compared with April 2013. A rise was recorded in commitments for the purchase of dwellings by individuals for rent or resale (up $107m, 1.5%), while falls were recorded in commitments for the purchase of dwellings by others for rent or resale (down $22m, 2.8%) and commitments for the construction of dwellings for rent or resale (down $11m, 2.4%). The value of investment housing commitments seasonally adjusted rose 1.5% in May 2013.

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

The number of owner occupied housing commitments (trend) rose (up 867, 1.8%) in May 2013, following a rise of 1.9% in April 2013. Rises were recorded in commitments for the purchase of established dwellings excluding refinancing (up 481, 2.0%), commitments for the refinancing of established dwellings (up 213, 1.4%), commitments for the purchase of new dwellings (up 105, 3.6%) and commitments for the construction of dwellings (up 69, 1.3%). The seasonally adjusted estimate for the total number of owner occupied housing commitments rose (up 900, 1.8%) in May 2013.

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

Between May 2013 and April 2013, the number of owner occupied housing commitments (trend) rose in New South Wales (up 299, 2.2%), Western Australia (up 178, 2.4%), Queensland (up 149, 1.7%), South Australia (up 79, 2.4%), Victoria (up 76, 0.6%), the Australian Capital Territory (up 12, 1.5%) and Tasmania (up 8, 1.2%), while a fall was recorded in the Northern Territory (down 6, 1.5%). The seasonally adjusted estimates rose in Queensland (up 354, 3.9%), Victoria (up 336, 2.6%), Western Australia (up 260, 3.4%), New South Wales (up 145, 1.0%), South Australia (up 19, 0.6%), the Northern Territory (up 16, 4.8%) and Tasmania (up 13, 1.7%), while a fall was recorded in the Australian Capital Territory (down 4, 0.4%).


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 14.6% in May 2013 from 14.3% in April 2013. Between May 2013 and April 2013, the average loan size for first home buyers rose $800 to $290,000. The average loan size for all owner occupied housing commitments rose $400 to $302,200 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 2.0% in May 2013, following a rise of 2.1% in April 2013. The seasonally adjusted series rose 2.5% in May 2013, after a fall of 0.1% in April 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 1.3% in May 2013, following a rise of 1.5% in April 2013. This is the sixth consecutive rise since December 2012. The seasonally adjusted series rose 0.6% in May 2013, following a rise of 0.3% in April 2013.

Purchase of new dwellings (Tables 1 & 2)

The number of finance commitments for the purchase of new dwellings for owner occupation (trend) rose 3.6% in May 2013, following a rise of 3.8% in April 2013. This is the fifteenth consecutive rise since March 2012. The seasonally adjusted series rose 0.7% in May 2013, after a fall of 0.8% in April 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 1.7% in May 2013, following a rise of 1.8% in April 2013. The seasonally adjusted series rose 2.1% in May 2013, following a rise of 1.5% in April 2013.

Refinancing (Tables 1 & 2)

The number of refinancing commitments for owner occupied housing (trend) rose 1.4% in May 2013, following a rise of 1.4% in April 2013. The seasonally adjusted series rose 0.4% in May 2013, following a rise of 4.1% in April 2013 and 1.7% in March 2013.

TYPE OF LENDER (OWNER OCCUPATION)

Banks (Tables 3 & 4)

The number of commitments for owner occupied dwellings financed by banks (trend) rose 1.9% in May 2013, following a rise of 2.0% in April 2013. The seasonally adjusted series rose 1.8% in May 2013, following a rise of 1.4% in April 2013.

Non-banks (Tables 3 & 4)

The number of commitments for owner occupied dwellings financed by non-banks (trend) rose 1.1% in May 2013, following a rise of 1.1% in April 2013. The seasonally adjusted series rose 2.4% in May 2013, after a fall of 1.3% in April 2013. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) rose 0.9% in May 2013, following a rise of 1.7% in April 2013. The seasonally adjusted series fell 0.6% in May 2013, following a fall of 0.3% in April 2013.

HOUSING LOAN OUTSTANDINGS

(Table 12)

At the end of May 2013, the value of outstanding housing loans financed by authorised deposit-taking institutions (ADIs) was $1,215,656m, up $6,644m (0.5%) from the April 2013 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $3,922m (0.5%) to $820,725m and investment housing loan outstandings financed by ADIs rose $2,722m (0.7%) to $394,931m.

Bank housing loan outstandings rose $6,604m (0.6%) during May 2013 to reach a closing balance of $1,166,699m. Owner occupied housing loan outstandings of banks rose $3,878m (0.5%) to $781,267m and investment housing loan outstandings of banks rose $2,726m (0.7%) to $385,432m.