HOUSING FINANCE COMMITMENTS 3 DECEMBER KEY FIGURES, Western Australia Trend estimates Seasonally adjusted estimates Dec 2009 % change from Dec 2009 % change from Owner-occupied housing Nov 09 Dec 08 Nov 09 Dec 08 Total number of dwelling commitments (no.)(a) 7500 -0.2 14.4 7264 -2.7 9.6 Total value of dwelling commitments ($m)(a)(b) 2172 -0.2 24.9 2074 -5.5 16.8 (a) Includes re-financing. (b) Excludes revolving credit. Source: Housing Finance, Australia (cat. no. 5609.0).

• In December 2009, the total number of dwelling commitments for owner-occupied housing decreased marginally (down 0.2%) in trend terms. This was the first monthly decrease since August 2008. The number of commitments was just over 14% higher than for December of the previous year.
• In seasonally adjusted terms, the number of dwellings commitments decreased for the third consecutive month in December (down 2.7%). However, the December 2009 estimate was still almost 10% higher than for December 2008, when the global economic downturn was strongly affecting the housing market in Western Australia.
• Recent interest rate rises and the phasing out of government loans to first home buyers are reflected in this continuing decrease.
  
  
  

• In December 2009, the total value of owner-occupied dwellings financed decreased by 0.2% in trend terms (down 5.5% in seasonally adjusted terms).
• In the year to December, the total value rose to over $2 billion. This was approximately 25% higher in trend terms (17% higher seasonally adjusted) than in the same month of the previous year.
  

4 HOUSING FINANCE COMMITMENTS FOR OWNER OCCUPATION(a), By type of buyer (Original)
		FIRST HOME BUYERS
		Number of dwellings financed	Total value of dwelling commitments	Average loan size
Reference period		no.	$m	$'000
2007-2008		16 445	3 956.9	240.6
2008-2009		20 782	5 861.3	282.0
2008
	October	1 307	348.1	266.4
	November	1 384	389.8	281.7
	December	1 772	486.1	274.3
2009
	January	1 589	449.5	282.9
	February	1 802	540.4	299.9
	March	2 126	624.9	293.9
	April	2 008	600.1	298.9
	May	2 365	695.9	294.2
	June	2 500	732.8	293.1
	July	2 347	685.2	291.9
	August	1 848	537.4	290.8
	September	2 457	734.3	298.8
	October	2 342	688.2	293.9
	November	2 088	628.1	300.8
	December	1 835	550.4	300.0
(a) Excludes alterations and additions. Includes re-financing.
Source: Housing Finance, Australia (cat. no. 5609.0)

• After falling below 1,900 (original) in August 2009, the number of loan commitments to first home-buyers rose by 33% in September, then decreased in October and November, by 5% and 11% respectively. This decline continued with a further 12% fall in December 2009, reflecting the cessation in the Federal Government's 'First Home-Buyers Boost'.
• Despite these recent falls in the number of first home-buyer loan commitments, the December 2009 figure was still higher (3.6%) than for the same month of the previous year when the global financial crisis was at a peak.
• In the year to December 2009, the size of the average loan for first home buyers increased by over 9%, from $274,300 to $300,000. For further details, see Housing Finance - Subsidies for first home buyers.

5 HOUSING FINANCE COMMITMENTS FOR OWNER OCCUPATION(a), By type of buyer: Original
		NON-FIRST HOME BUYERS
		Number of dwellings financed	Total value of dwelling commitments	Average loan size
Reference period		no.	$m	$'000
2007-2008		76 326	18 247.3	239.1
2008-2009		61 093	15 984.7	261.6
2008
	October	5 359	1 391.0	259.6
	November	4 518	1 121.3	248.2
	December	5 020	1 308.4	260.6
2009
	January	4 345	1 098.9	252.9
	February	4 701	1 219.3	259.4
	March	5 410	1 476.5	272.9
	April	4 921	1 376.5	279.7
	May	5 385	1 483.1	275.4
	June	5 678	1 562.4	275.2
	July	5 563	1 574.8	283.1
	August	5 066	1 463.2	288.8
	September	5 365	1 529.8	285.1
	October	5 473	1 532.6	280.0
	November	5 448	1 586.4	291.2
	December	5 471	1 541.2	281.7
(a) Excludes alterations and additions. Includes re-financing.
Source: Housing Finance, Australia (cat. no. 5609.0)

• Following rises in September and October 2009, the number of dwellings financed fell slightly in November and then increased slightly (0.4%) in December.
• In the year to December, the average loan for non-first home buyers rose by 8%, from $260,600 to $281,700, but was $18,300 less in December 2009 than for first home buyers.
  

This link takes you to time series spreadsheets from Housing Finance, Australia , Dec 2009 (cat. no. 5609.0).
Tables 5 - 8 and Tables 9B-10C contain a range of housing finance commitments data by state.

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