December Quarter 2010 - Western Australian Planning Commission

Department of Planning – December Quarter 2010
HOUSING ACTIVITY
Housing finance
Figure 1
Housing loans for owner-occupied dwellings, Western Australia, seasonally adjusted
Scope
Housing finance
commitments made
by significant
lenders for the
construction or
purchase of owner
occupied dwellings.
Seasonally adjusted
data
Source
Housing Finance,
Australia, ABS Cat.
No. 5609.0 Table 5.
December 2010.
Number of housing
finance commitments
11,000
10,000
9,000
8,000
7,000
6,000
5,000
4,000
3,000
2,000
1,000
0
Dec-05
Jan-06
Feb-06
Mar-06
Apr-06
May-06
Jun-06
Jul-06
Aug-06
Sep-06
Oct-06
Nov-06
Dec-06
Jan-07
Feb-07
Mar-07
Apr-07
May-07
Jun-07
Jul-07
Aug-07
Sep-07
Oct-07
Nov-07
Dec-07
Jan-08
Feb-08
Mar-08
Apr-08
May-08
Jun-08
Jul-08
Aug-08
Sep-08
Oct-08
Nov-08
Dec-08
Jan-09
Feb-09
Mar-09
Apr-09
May-09
Jun-09
Jul-09
Aug-09
Sep-09
Oct-09
Nov-09
Dec-09
Jan-10
Feb-10
Mar-10
Apr-10
May-10
Jun-10
Jul-10
Aug-10
Sep-10
Oct-10
Nov-10
Dec-10
Month
Table 1
Housing loans* for owner occupied dwellings – annual summary and monthly comparison
Western Australia, seasonally adjusted
Five
year
average
Five year
average
for Dec
2005/ 2006/ 2007/ 2008/ 2009/
Dec Dec
2006 2007 2008 2009 2010
2009 2010
Number 106,661 104,967 92,828 81,900 78,873 93,046 6,845 5,793 7,147
Annual
change
-1.59 -11.6 -11.8 -3.7 -15.4
*Note:
Source:
Housing loans are housing finance commitments made by significant lenders. Includes secured finance commitments for the construction or purchase of
owner occupied dwellings
Based on data from Housing Finance Australia, Australian Bureau of Statistics Cat. No. 5609.0, Table 5. December 2010. Recent data is revised.
Seasonally adjusted housing finance commitments in Western Australia have decreased by 15.4%
over the last 12 months to December 2010. The five year annual trend in the State’s housing finance
commitments continues to decline but the rate of decline has slowed. It appears that commitment
numbers have passed the minimum point in the current cycle and a small growth trend is likely to
continue in the immediate future. However, the most recent RBA Monetary Policy Statement 4
indicated that the household sector was still displaying considerable caution in spending and
borrowing and there is an expectation that this caution will restrain activity in this area.
4 Source – Reserve Bank of Australia, Statement on Monetary Policy (February 2011)
3