Housing Finance for Owner Occupation September 2008
Housing Finance Commitments Chart 1: Housing Finance Commitments
(number, seasonally adjusted)
(number in the month, annual % change, s.a) number (000) number
80 800
Northern Territory 371 27.3%
70 700
Australia 47 435 26.9%
60 Australia (LHS) 600
In annual terms, the number of seasonally adjusted Territory
housing finance commitments for owner-occupation 50 500
decreased by 27.3% to 371 (down by 139) in September 40 400
2008. At the national level housing finance commitments
30 300
decreased by 26.9% to 47 435 (see Chart 1). Northern Territory (RHS)
20 200
In annual terms, the value of seasonally adjusted housing
finance commitments decreased by 18.0% in the Territory 10 100
and 22.2% nationally (see Chart 2). 0 0
The components of housing finance are only available in 99 00 01 0203 04 05 06 07 08 09
Year ended June
original terms. In original terms, compared to So urce: A B S Cat. No . 5609.0
September 2007;
• finance for the purchase and construction of new dwellings Chart 2: Housing Finance Commitments
(value, seasonally adjusted)
decreased by 16 to 42 (down by 27.6%);
$B $M
• finance for the purchase of established dwellings 18 180
(excluding refinancing) decreased by 85 to 291 (down 16 160
22.6%). 14 140
• applications for refinancing of established dwellings 12 120
Australia (LHS)
decreased by 14 to 100 (down 12.3%). 10 100
In the year to September 2008, the number of housing 8 80
finance commitments for owner-occupation decreased by
6 60
15.8% in the Territory, compared to a 10.7% decrease
4 40
nationally. The corresponding value of Territory commitments Northern Territory (RHS)
2 20
decreased by 10.8%. Nationally, the value of commitments
decreased by 7.0% in the year. 0 0
99 00 01 03 04 05 06
02 07 08 09
The Territory recorded the second largest decline in the Year ended June
Source: A B S Cat. No. 5609.0
number of housing finance commitments in the year to
September 2008, behind Queensland. All states and
Chart 3: Housing Finance Commitments
territories recorded declines with Tasmania recording the (number, year on year percentage change)
smallest decline of 1.3% (see Chart 3). %
2
The number of housing finance commitments for owner
0
occupiers in the Territory (excluding refinancing) has
-2
declined substantially from the peak of 6410 reported in
2005-06. Despite recent strong population growth, the -4
number of housing finance commitments has been -6
influenced by declining housing affordability over the past -8
two years, and relatively high mortgage rates to the end of -10
the September quarter 2008. -12
Commitments for First Home Owners -14
-16
In September 2008, there were 67 housing finance
-18
commitments by first home owners in the Territory, down Qld NT WA A CT NSW SA Vic Tas A ust
from 98 reported in September 2007. Nationally, the number So urce: A B S Cat. No. 5609.0
of commitments by first home owners decreased by 11.2%
over the same period. In the year the number of
commitments by first home owners decreased by 16.1% in
the Territory, while decreasing by 6.5% nationally.
Released: 10 November 2008
Next Release: 10 December 2008
Housing Finance for Owner Occupation September 2008
Housing Finance for Owner Occupation
September change
month year to date monthly1 annual2 year on year3
Northern Territory
number
original 391 5 131 17.8% -20.2% -15.8%
- excl refinancing 291 3 963 14.6% -22.6% -13.8%
seasonally adj 371 5 098 5.7% -27.3%
trend 358 5 098 -1.9% -31.0%
value ($M)
original 93 1 118 17.7% -7.3% -10.8%
- excl refinancing 76 903 15.6% -4.4% -7.7%
seasonally adj 87 1 110 5.1% -18.0%
trend 87 1 110 -0.5% -20.5%
Australia
number
original 47 448 687 267 0.2% -20.6% -10.7%
- excl refinancing 32 832 468 680 4.2% -21.9% -12.4%
seasonally adj 47 435 687 161 -2.7% -26.9%
trend 47 340 687 506 -1.9% -27.1%
value ($M)
original 11 924 165 068 1.0% -16.5% -7.0%
- excl refinancing 8 666 118 967 5.0% -18.1% -8.4%
seasonally adj 11 891 165 154 -1.9% -22.2%
trend 11 876 165 153 -1.2% -23.0%
1
compares the latest month with the previous month
2
compares the latest month with the same month last year
3
compares the 12 months up to and including the latest month with the previous 12 month period
Caution is advised when using monthly data for the Territory, which is often derived from small samples and highly volatile.
Source: ABS Cat. No. 5609.0
Although all due care has been exercised in the preparation of this material, no responsibility is accepted for any
errors or omission.
Released: 10 November 2008
Next Release: 10 December 2008