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LENDING FINANCE COMMITMENTS

NOVEMBER KEY FIGURES, Western Australia
		Nov 2010	Oct 2010 to Nov 2010	Nov 2009 to Nov 2010
	Original Data(a)	$m	% change	% change
	Housing finance for owner occupation	1 738.0	12.9	-20.0
	Personal finance	1 077.9	8.3	-0.1
	Commercial finance	2 970.1	-7.8	-8.7
	Lease finance	22.6	12.7	28.1
Source: Lending Finance, Australia (cat. no. 5671.0); Housing Finance, Australia (cat. no. 5609.0). (a) Personal, Commercial and Lease finance commitments data are only available in original terms. Housing finance commitments data are also available in trend and seasonally adjusted terms (see below). In original data terms, the value of lending commitments in the month of November rose across all types of finance except Commercial finance, which fell by almost 8%. Compared with November of the previous year, Housing and Personal finance commitments that were about 20% lower in November 2010, while Lease Finance commitments were around 28% higher.
This link takes you to time series spreadsheets from Lending Finance, Australia, November 2010 (cat. no. 5609.0). Data for Western Australia can be found in Table 23: Commercial Finance Commitments; Table 35: Lease Finance Commitments; and Table 57: Personal Finance Commitments.

NOVEMBER KEY FIGURES, Western Australia(a)
	Number of dwelling commitments(b)					Value of dwelling commitments(b)
	November 2010		% change from			November 2010		% change from
			October 2010	November 2009				October 2010	November 2009
Estimate	no.		%	%		$m		%	%
Trend	5 650		1.3	-20.8		1 593.4		1.4	-23.7
Seasonally adjusted	5 733		2.2	-19.6		1 630.1		4.0	-23.3
(a) Dwelling commitment statistics presented in this table are for owner occupied dwellings.
(b) Excludes alterations and additions. Includes re-financing.
Source: Housing Finance, Australia (cat. no. 5609.0).

• In November 2010, the number of owner occupied housing commitments increased for the fourth consecutive month, giving a rise of 1.3% in trend terms.
• In seasonally adjusted terms, the number of owner occupied commitments increased by 2.2% while the total value of commitments increased by 4.0%. However, these estimates were around 23% lower than in November 2009.

• Over the last 10 years, there has been considerable volatility in the number of finance commitments for owner-occupied housing.
• After peaking at 9,600 (trend) in May 2006, the number of commitments followed a downward trend, dropping below 6,300 in September 2008.
• Coinciding with falling interest rates and increased government subsidies, the number of commitments began to rise again in October 2008, climbing to almost 7,600 by July 2009.
• The number of commitments then fell by around 1,900 twelve months later although small increases over the four months to November 2010 may indicate the beginning of a new upward trend.

HOUSING FINANCE COMMITMENTS FOR OWNER OCCUPATION(a)(b), First Home Buyers
		Number of commitments	Value of commitments	Average loan size
Reference period		no.	$m	$'000
2008-2009(c)		20 782	5 861.3	282.0
2009-2010(c)		19 327	5 667.0	293.2
2009	November	2 088	628.0	300.8
	December	1 841	550.3	298.9
2010	January	1 259	376.1	298.7
	February	1 172	342.7	292.4
	March	1 162	333.5	287.0
	April	889	255.9	287.8
	May	955	265.2	277.7
	June	967	270.2	279.4
	July	798	223.5	280.1
	August	924	259.2	280.5
	September	945	257.9	272.9
	October	987	274.0	277.6
	November	1 126	302.7	268.8
(a) Original data for Western Australia.
(b) Excludes alterations and additions. Includes re-financing.
(c) Year ending June.
Source: Housing Finance, Australia (cat. no. 5609.0).

• At the state level , the breakdown of dwelling finance commitments by first and non-first home buyers is available only in original data terms.
• In November 2010, the number of first home buyer commitments rose by 14% according to the original data. This followed three previous monthly rises after commitments fell below 800 in July for the first time in ten years. Despite this turnaround, the number of commitments in November 2010 was just above half of those recorded in November 2009, when the First Home Owners' Boost was still in operation.
• In November 2010, the average loan size for first home buyers in Perth fell 3.2% to $268,800, the lowest value since October 2008.
• In the 12 months to November, the average loan size decreased by 11%, reflecting a downward trend in the median house price.

HOUSING FINANCE COMMITMENTS FOR OWNER OCCUPATION(a)(b), Non-First Home Buyers
		Number of commitments	Value of commitments	Average loan size
Reference period		no.	$m	$'000
2008-2009(c)		61 093	15 984.7	261.6
2009-2010(c)		59 632	17 188.7	288.2
2009	November	5 286	1 545.1	292.3
	December	5 294	1 518.3	286.8
2010	January	3 943	1 176.6	298.4
	February	4 735	1 374.6	290.3
	March	5 195	1 518.5	292.3
	April	4 418	1 293.1	292.7
	May	4 642	1 321.6	284.7
	June	4 652	1 340.7	288.2
	July	4 536	1 301.4	286.9
	August	4 582	1 313.7	286.7
	September	4 721	1 343.6	284.6
	October	4 522	1 264.8	279.7
	November	5 020	1 435.2	285.9
(a) Original data for Western Australia. (b) Excludes alterations and additions. Includes re-financing. (c) Year ending June.
Source: Housing Finance, Australia (cat. no. 5609.0).

• In November 2010, the number of dwelling finance commitments for non-first home buyers was 11% higher than the October figure. Despite this recent rise, the November figure was still 5% lower than in November of the previous year.
• The average loan size in November 2010 for this group of borrowers was $285,900, a 2.2% increase from the previous month.