5609.0 - Housing Finance, Australia, Sep 2014 Quality Declaration
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 10/11/2014
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SEPTEMBER KEY POINTS VALUE OF DWELLING COMMITMENTS September 2014 compared with August 2014:
NUMBER OF DWELLING COMMITMENTS September 2014 compared with August 2014:
NOTES FORTHCOMING ISSUES
REVISIONS In this issue revisions have been made to the original series as a result of improved reporting of survey and administrative data. These revisions have impacted on:
Seasonally adjusted and trend series have been revised as a result of the incorporation of estimates for the latest month and the revision of seasonal factors due to the concurrent seasonal adjustment methodology. FIRST HOME BUYERS A preliminary investigation has been conducted to evaluate the robustness of estimates of loans to first home buyers (Table 9). In collecting this information, lenders are asked to report all loans to first home buyers. Concerns have been raised that under-reporting could occur if some lenders were only able to accurately report on those buyers receiving a first home buyer grant. Most data on first home buyers are collected by the Australian Prudential Regulation Authority (APRA) under the Financial Sector (Collection of Data) Act 2001. The investigation indicates that some lenders experience difficulty reporting on loans where the buyer is not receiving a first home buyers grant. Estimates of loans to first home buyers (Table 9) are therefore under review and users are advised to exercise caution in referencing this data. The ABS is working with APRA to explore options to make it easier for lenders to report correctly in future. In the meantime, the ABS is further investigating the potential for under reporting first home buyer data and the feasibility, if necessary, of estimating the extent of under reporting and adjusting the first home buyers estimates accordingly. The outcomes from the investigation will be published on the ABS website. PRIVACY The ABS Privacy Policy outlines how the ABS will handle any personal information that you provide to the ABS. INQUIRIES For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070. Document Selection These documents will be presented in a new window.
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