DECEMBER KEY FIGURES
 | Trend estimates | Seasonally adjusted estimates | |
| Dec 2005 | Nov 2005 to Dec 2005 | Dec 2005 | Nov 2005 to Dec 2005 | |
| |
| Value of dwelling commitments(a) | $m | % change | $m | % change | |
| Total dwellings | 18 718 | 1.3 | 18 867 | 2.8 | |
| Owner occupied housing | 12 984 | 1.3 | 12 980 | 1.1 | |
| Investment housing - fixed loans(b) | 5 734 | 1.4 | 5 887 | 6.8 | |
| Number of dwelling commitments(a) | no. | % change | no. | % change | |
| Owner occupied housing | 59 271 | 1.0 | 59 100 | 0.9 | |
| Construction of dwellings | 4 348 | 0.4 | 4 423 | 2.1 | |
| Purchase of new dwellings | 2 607 | 2.3 | 2 593 | 2.3 | |
| Purchase of established dwellings | 52 316 | 1.0 | 52 084 | 0.7 | |
| |
| (a) Includes refinancing. |
| (b) Excludes revolving credit. |
Value of dwelling commitments, Total dwellings
| Number of dwelling commitments, Owner occupied housing
|
DECEMBER KEY POINTS
TREND ESTIMATES
DECEMBER 2005 COMPARED WITH NOVEMBER 2005:
- Total value of dwelling finance commitments excluding alterations and additions increased by 1.3%, the sixth consecutive monthly increase. The value of owner occupied housing commitments increased by 1.3%, while the value of investment housing commitments rose by 1.4%.
- The number of commitments for owner occupied housing finance increased by 1.0%, while the number excluding refinancing rose by 1.3%.
SEASONALLY ADJUSTED ESTIMATES
DECEMBER 2005 COMPARED WITH NOVEMBER 2005:
- Total value of dwelling finance commitments excluding alterations and additions rose by 2.8%. Investment housing commitments increased by 6.8%, driven primarily by a large increase in construction of dwellings for rent or resale (up $200m, 40.8%), while owner occupied housing commitments increased by 1.1%.
- The number of commitments for owner occupied housing finance increased by 0.9%, while the number excluding refinancing rose by 1.4%.
ORIGINAL ESTIMATES
- The number of first home buyer commitments as a percentage of total owner occupied housing finance commitments rose slightly to 18.7% in December 2005.
NOTES
FORTHCOMING ISSUES
| ISSUE | Release Date |
| January 2006 | 10 March 2006 |
| February 2006 | 7 April 2006 |
| March 2006 | 12 May 2006 |
| April 2006 | 6 June 2006 |
| May 2006 | 11 July 2006 |
| June 2006 | 9 August 2006 |
CHANGES IN THIS ISSUE
There are no major changes in this issue.
INQUIRIES
For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Darren Page on (02) 6252 6731.
SUMMARY COMMENTARY
SUMMARY OF FINDINGS
DWELLINGS FINANCED
Value of Dwellings Financed
The total value of dwelling commitments excluding alterations and additions (seasonally adjusted) rose by 2.8% in December 2005 compared with November 2005. The trend series for total value of dwelling finance commitments increased by 1.3% in December, the sixth consecutive monthly increase.
The total value of owner occupied housing commitments (seasonally adjusted) increased by 1.1% (up $138m) in December 2005 compared with November 2005, following an increase of 0.9% in November. The increase this month was due to increases in purchase of established dwellings excluding refinancing (up $101m, 1.3%), construction of dwellings (up $26m, 2.7%), refinancing of established dwellings (up $6m, 0.2%) and in purchase of new dwellings (up $5m, 0.8%). The trend series in the value of owner occupied commitments increased by 1.3% in December, continuing a run of increases since April 2004.
The total value of investment housing commitments (seasonally adjusted) rose by 6.8% (up $376m) in December 2005 compared with November 2005, following a decrease of 5.4% in November. The increase this month was due to increases in construction of dwellings for rent or resale (up $200m, 40.8%), purchase of dwellings for rent or resale by individuals (up $107m, 2.3%) and purchase of dwellings for rent or resale by others (up $69m, 20.6%). The trend series in total value of investment housing commitments increased by 1.4% in December, the fifth consecutive increase.
INVESTMENT HOUSING - TOTAL
Number of Owner Occupied Dwellings Financed
The number of owner occupied housing commitments (seasonally adjusted) increased by 0.9% (up 525) in December 2005 compared with November 2005, following a decrease of 0.1% in November. The increases in purchase of established dwellings excluding refinancing (up 430, 1.3%), construction of dwellings (up 90, 2.1%) and purchase of new dwellings (up 58, 2.3%) more than offset a decrease in refinancing of established dwellings (down 53, -0.3%). The number of owner occupied housing commitments (trend) rose by 1.0% in December 2005.
In original terms, the number of first home buyer commitments as a percentage of total owner occupied housing finance commitments rose slightly to 18.7% in December 2005. The percentage of the number of commitments for owner-occupied housing at a fixed rate of interest (for at least two years) fell slightly from 14.7% in November to 14.1% in December.
Number of Owner Occupied Dwellings Financed Excluding Refinancing
The number of owner occupied housing commitments excluding refinancing (seasonally adjusted) increased by 1.4% in December 2005 compared with November 2005, following a decrease of 0.2% in November. The trend increased by 1.3% in December 2005
PURPOSE OF FINANCE (OWNER OCCUPATION)
Construction of dwellings
The number of construction commitments for owner occupation (seasonally adjusted) rose by 2.1% in December 2005 compared with November 2005, following an increase of 1.4% in November. The trend series increased by 0.4% in December 2005.
Purchase of new dwellings
The number of finance commitments for the purchase of new dwellings for owner occupation (seasonally adjusted) rose by 2.3% in December 2005 compared with November 2005, following a fall of 2.5% in November. The trend series rose by 2.3% in December 2005.
Purchase of established dwellings
The number of established dwelling for owner occupation (seasonally adjusted) increased by 0.7% in December 2005 compared with November 2005, following a fall of 0.1% in November. The trend rose by 1.0% in December 2005.
Refinancing
The number of refinancing commitments for owner occupied housing (seasonally adjusted) fell by 0.3% in December 2005 compared with November 2005, following a rise of 0.1% in November. The trend series rose by 0.3% in December 2005.
TYPE OF LENDER (OWNER OCCUPATION)
Banks
The number of owner occupied dwellings financed by banks (seasonally adjusted) increased by 1.3% in December 2005 compared with November 2005, following an increase of 0.2% in November 2005. The trend series rose by 1.4% in December 2005.
Non-banks
The number of owner occupied dwellings financed by non-banks (seasonally adjusted) decreased by 0.7% in December 2005 compared with November 2005, following a decrease of 1.2% in November. The non-bank trend series fell by 0.3% in December 2005.
HOUSING LOAN OUTSTANDINGS
At the end of December 2005, housing loans outstanding of authorised deposit-taking institutions was $564,124m, up $6,445m (1.2%) from November's closing balance. Owner occupied housing loans increased by $4,921m (1.3%) to close at $377,697m, while investment housing loans outstanding increased by $1,524m (0.8%) to reach a closing balance of $186,427m.
Bank loans increased by $6,111m (1.2%) during December to a closing stock of $531,848m. Owner occupied housing loans of banks increased by $4,655m (1.3%) to $351,899m, while investment housing loans increased $1,456m (0.8%) to $179,949m.
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