Quality Declaration
Page tools:
 Print Page
 Print All
| ||
|
SUMMARY OF FINDINGS Number of Owner Occupied Dwellings Financed The number of owner occupied housing commitments (seasonally adjusted) increased 1.3% (up 627) in November 2008 compared with October 2008, following a revised increase of 1.4% in October 2008. Increases were recorded in the purchase of established dwellings excluding refinancing (up 293, 1.1%), the purchase of new dwellings (up 176, 9.8%) and the refinancing of established dwellings (up 168, 1.1%), while a decrease was recorded for the construction of dwellings (down 10, 0.3%). The trend estimates for the total number of owner occupied housing commitments remained unchanged in November 2008. The number of owner occupied housing commitments (seasonally adjusted) increased in November 2008 compared with October 2008 in New South Wales (up 800, 5.8%), South Australia (up 192, 4.7%), Queensland (up 87, 0.9%) and Tasmania (up 67, 6.6%), while decreases were recorded in Western Australia (down 367, 5.8%), Victoria (down 198, 1.7%), the Australian Capital Territory (down 106, 13.8%) and the Northern Territory (down 43, 9.6%). The trend estimates decreased in New South Wales, Victoria and Western Australia, while all other states and territories recorded increases. In original terms, the number of first home buyer commitments as a percentage of total owner occupied housing finance commitments increased from 19.5% in October 2008 to 23.6% in November 2008. The number of fixed rate loan commitments as a percentage of total owner occupied housing finance commitments decreased from 2.9% in October 2008 to 2.5% in November 2008. This is the lowest level recorded since the series commenced in 1991. The average loan size for owner occupied housing commitments fell from $256,500 in October 2008 to $254,000 in November 2008. Number of Owner Occupied Dwellings Financed Excluding Refinancing The number of owner occupied housing commitments excluding refinancing (seasonally adjusted) rose 1.4% in November 2008 compared with October 2008, following a revised increase of 0.7% in October 2008. The trend rose 0.5% in November 2008. PURPOSE OF FINANCE (OWNER OCCUPATION) Construction of dwellings The number of finance commitments for the construction of dwellings for owner occupation (seasonally adjusted) fell 0.3% in November 2008 compared with October 2008, following a revised decrease of 1.9% in October 2008. The trend series fell by 0.8%, the twelfth consecutive monthly decrease. Purchase of new dwellings The number of finance commitments for the purchase of new dwellings for owner occupation (seasonally adjusted) rose 9.8% in November 2008 compared with October 2008, following a revised increase of 4.5% in October 2008. The trend series rose by 3.0% in November 2008. Purchase of established dwellings (including refinancing) The number of finance commitments for the purchase of established dwellings for owner occupation (seasonally adjusted) rose 1.1% in November 2008 compared with October 2008, following a revised increase of 1.6% in October 2008. The trend series fell 0.1% in November 2008, the twelfth consecutive monthly decrease. Refinancing The number of refinancing commitments for owner occupied housing (seasonally adjusted) rose 1.1% in November 2008 compared with October 2008, following a revised increase of 2.9% in October 2008. The trend series fell 1.1% in November 2008, the tenth consecutive monthly decrease. TYPE OF LENDER (OWNER OCCUPATION) Banks The number of owner occupied dwellings financed by banks (seasonally adjusted) rose 2.3% in November 2008 compared with October 2008, after a revised increase of 1.3% in October 2008. The trend series rose 0.2% in November 2008. Non-banks The number of owner occupied dwellings financed by non-banks (seasonally adjusted) fell 6.0% in November 2008 compared with October 2008, after a revised increase of 2.1% in October 2008. The trend series in the number of owner occupied dwellings financed by non-banks decreased 1.7% in November 2008, the seventeenth consecutive monthly decrease. The number of commitments for owner occupied dwellings financed by wholesale lenders n.e.c. (seasonally adjusted) increased 3.5%, while the trend series decreased 3.0%, the eighteenth consecutive monthly decrease. HOUSING LOAN OUTSTANDINGS At the end of November 2008, the value of outstanding housing loans financed by authorised deposit-taking institutions was $811,927m, up $8,941m (1.1%) from the October 2008 closing balance. Owner occupied housing loans financed by authorised deposit-taking institutions increased $7,229m (1.3%) to $555,805m and investment housing loans financed by authorised deposit-taking institutions increased $1,712m (0.7%) to $256,122m. Bank loans increased $8,681m (1.1%) during November 2008 to reach a closing balance of $769,654m. Owner occupied housing loans of banks increased $6,543m (1.3%) to $520,832m and investment housing loans increased $2,138m (0.9%) to $248,822m. Document Selection These documents will be presented in a new window.
|
|