OCTOBER KEY FIGURES
 | Trend estimates | Seasonally adjusted estimates | |
| Oct 2006 | Sep 2006 to Oct 2006 | Oct 2006 | Sep 2006 to Oct 2006 | |
| |
| Value of dwelling commitments(a) | $m | % change | $m | % change | |
| Total dwellings | 19 366 | -1.0 | 19 171 | 0.1 | |
| Owner occupied housing | 13 783 | -0.5 | 13 730 | 0.8 | |
| Investment housing - fixed loans(b) | 5 583 | -2.4 | 5 441 | -1.8 | |
| Number of dwelling commitments(a) | no. | % change | no. | % change | |
| Owner occupied housing | 62 342 | -0.4 | 61 819 | -0.1 | |
| Construction of dwellings | 4 573 | -0.1 | 4 549 | 0.5 | |
| Purchase of new dwellings | 2 759 | -1.4 | 2 719 | -0.5 | |
| Purchase of established dwellings | 55 010 | -0.4 | 54 551 | -0.1 | |
| |
| (a) Includes refinancing. |
| (b) Excludes revolving credit. |
Value of dwelling commitments, Total dwellings
| Number of dwelling commitments, Owner occupied housing
|
OCTOBER KEY POINTS
TREND ESTIMATES
October 2006 COMPARED WITH September 2006:
- Total value of dwelling finance commitments excluding alterations and additions decreased by 1.0%. The value of owner occupied housing commitments decreased by 0.5%, while the value of investment housing commitments fell by 2.4%.
- The number of commitments for owner occupied housing finance fell by 0.4%, while the number excluding refinancing fell by 1.0%.
SEASONALLY ADJUSTED ESTIMATES
October 2006 COMPARED WITH September 2006:
- Total value of dwelling finance commitments excluding alterations and additions increased 0.1%. Owner occupied housing commitments rose 0.8%, while investment housing commitments fell 1.8%.
- The number of commitments for owner occupied housing finance fell by 0.1%, while the number excluding refinancing increased by 0.3%.
ORIGINAL ESTIMATES
- The number of first home buyer commitments as a percentage of total owner occupied housing finance commitments increased from 17.4% in September 2006 to 17.7% in October 2006.
- The number of fixed rate loan commitments as a percentage of total owner occupied housing finance commitments fell from 17.6% in September 2006 to 17.0% in October 2006.
NOTES
FORTHCOMING ISSUES
| ISSUE | Release Date |
| November 2006 | 15 January 2007 |
| December 2006 | 9 February 2007 |
| January 2007 | 9 March 2007 |
| February 2007 | 11 April 2007 |
| March 2007 | 11 May 2007 |
| April 2007 | 8 June 2007 |
CHANGES IN THIS ISSUE
There are no major changes in this issue.
CHANGES IN FORTHCOMING ISSUES
Data in this publication will undergo seasonal reanalysis prior to the November 2006 issue.
INQUIRIES
For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Glen Malam on (02) 6252 5040.
SUMMARY COMMENTARY
DWELLINGS FINANCED
Value of Dwellings Financed
The total value of dwelling commitments excluding alterations and additions (seasonally adjusted) increased 0.1% in October 2006 compared with September 2006. The trend series for total value of dwelling finance commitments decreased by 1.0% in October 2006.
The total value of owner occupied housing commitments (seasonally adjusted) rose by 0.8% (up $116m) in October 2006, following a revised 1.7% fall in September 2006. Increases were recorded for refinancing of established dwellings (up $47m, 1.2%), purchase of established dwellings excluding refinancing (up $43m, 0.5%), construction of dwellings (up $16m, 1.5%) and purchase of new dwellings (up $9m, 1.5%). The trend series in the value of owner occupied commitments decreased by 0.5% in October 2006.
The total value of investment housing commitments (seasonally adjusted) decreased by 1.8% (down $102m) in October 2006 compared with September 2006, following a revised decrease of 5.2% in September 2006. The decrease this month was due to falls in purchase of dwellings by others for rent or resale (down $223m, -35.1%) and construction of dwellings for rent or resale (down $191m, -33.3%) more than offsetting increases in purchase of dwellings by individuals for rent or resale (up $312m, 7.2%). The trend series in total value of investment housing commitments decreased by 2.4% in October 2006.
INVESTMENT HOUSING - TOTAL
Number of Owner Occupied Dwellings Financed
The number of owner occupied housing commitments (seasonally adjusted) fell by 0.1% (down 49) in October 2006 compared with September 2006, following a revised decrease of 1.5% in September 2006. Decreases were recorded in refinancing of established dwellings (down 185, -0.9%) and purchase of new dwellings (down 15, -0.5%) offsetting an increase in purchase of established dwellings excluding refinancing (up 130, 0.4%) and construction of dwellings (up 21, 0.5%). The number of owner occupied housing commitments (trend) fell 0.4% in October 2006.
The number of owner occupied housing commitments (seasonally adjusted) decreased in October 2006 compared with September 2006 in Western Australia (down 463, -5.1%), South Australia (down 237, -4.4%), Victoria (down 165, -1.2%), Tasmania (down 102, -8.1%) and the Northern Territory (down 4, -0.7%). Increases were recorded in New South Wales (up 200, 1.1%), Queensland (up 104, 0.8%), and the Australian Capital Territory (up 34, 4.1%). The trend estimates decreased in all states and territories except the Australian Capital Territory and Tasmania with Queensland and South Australia remaining virtually unchanged.
In original terms, the number of first home buyer commitments as a percentage of total owner occupied housing finance commitments increased from 17.4% in September 2006 to 17.7% in October 2006. The number of fixed rate loan commitments as a percentage of total owner occupied housing finance commitments fell from 17.6% in September 2006 to 17.0% in October 2006. The average loan size for owner occupied housing commitments rose from $221,300 in September 2006 to $223,200 in October 2006.
Number of Owner Occupied Dwellings Financed
Number of Owner Occupied Dwellings Financed Excluding Refinancing
The number of owner occupied housing commitments excluding refinancing (seasonally adjusted) increased by 0.3% in October 2006 compared with September 2006, following a revised decrease of 2.3% in September 2006. The trend decreased by 1.0% in October 2006.
PURPOSE OF FINANCE (OWNER OCCUPATION)
Construction of dwellings
The number of construction commitments for owner occupation (seasonally adjusted) rose 0.5% in October 2006, following a decrease of 1.2% in September 2006. The trend series decreased by 0.1% in October 2006, the first monthly decrease after twelve consecutive monthly increases.
Purchase of new dwellings
The number of finance commitments for the purchase of new dwellings for owner occupation (seasonally adjusted) fell by 0.5% in October 2006, following a revised decrease of 4.5% in September 2006. The trend series fell by 1.4% in October 2006.
Purchase of established dwellings (including refinancing)
The number of finance commitments for the purchase of established dwellings for owner occupation (seasonally adjusted) fell 0.1% in October 2006, following a revised decrease of 1.3% in September 2006. The trend series fell by 0.4% in October 2006.
Refinancing
The number of refinancing commitments for owner occupied housing (seasonally adjusted) fell by 0.9% in October 2006 compared with September 2006, following a revised increase of 0.4% in September 2006. The trend series rose by 0.8% in October 2006.
TYPE OF LENDER (OWNER OCCUPATION)
Banks
The number of owner occupied dwellings financed by banks (seasonally adjusted) decreased by 0.1% in October 2006 compared with September 2006, after a revised decrease of 1.3% in September 2006. The trend series fell by 0.5% in October 2006.
Non-banks
The number of owner occupied dwellings financed by non-banks (seasonally adjusted) rose by 0.2% in October 2006 compared with September 2006, after a revised decrease of 2.0% in September 2006. The non-bank trend series decreased by 0.2% in October 2006.
HOUSING LOAN OUTSTANDINGS
At the end of October 2006, the value of outstanding housing loans financed by authorised deposit-taking institutions was $611,419m, up $4,558m (0.8%) from September's closing balance. Owner occupied housing loans increased by $3,413m (0.8%) to close at $412,672m, while investment housing loans increased by $1,145m (0.6%) to reach a closing balance of $198,747m.
Bank loans increased by $4,129m (0.7%) during October to a closing stock of $575,877m. Owner occupied housing loans of banks increased by $3,055m (0.8%) to $383,782m, while investment housing loans increased $1,074m (0.6%) to $192,095m.
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