![ScreenHunter_01 Apr. 17 01.50](https://www.macrobusiness.com.au/wp-content/uploads/2013/10/ScreenHunter_01-Apr.-17-01.50.gif)
The Australian Bureau of Statistics (ABS) has just released housing finance data for the month of August, which registered a seasonally-adjusted 3.9% fall in the number of owner-occupied finance commitments over the month. The result disappointed analyst’s expectations of a 2.5% fall.
![ScreenHunter_12 Oct. 14 11.31](https://www.macrobusiness.com.au/wp-content/uploads/2013/10/ScreenHunter_12-Oct.-14-11.31.gif)
The number of owner-occupied housing finance commitments (excluding refinancings) registered a seasonally-adjusted 5.3% fall over the month of August to be tracking 3% above the five-year moving average level. However, the series is up 8.7% on August 2012.
![ScreenHunter_13 Oct. 14 11.36](https://www.macrobusiness.com.au/wp-content/uploads/2013/10/ScreenHunter_13-Oct.-14-11.36.gif)
The average loan size was steady over the month, but was down 0.2% over the year. The below charts show the series on a 3-month moving average basis (in order to smooth volatility). Note the recent downward shift after the bounce over the June quarter.
![ScreenHunter_15 Oct. 14 11.44](https://www.macrobusiness.com.au/wp-content/uploads/2013/10/ScreenHunter_15-Oct.-14-11.44.gif)
![ScreenHunter_16 Oct. 14 11.45](https://www.macrobusiness.com.au/wp-content/uploads/2013/10/ScreenHunter_16-Oct.-14-11.45.gif)
First home buyer (FHB) commitments has slumped once more, recording a 13% non-seasonally adjusted fall in August and represented just 13.7% of total owner-occupied commitments – the lowest level since April 2004. They were also 22% lower than August 2012 (see below charts).
![ScreenHunter_17 Oct. 14 11.48](https://www.macrobusiness.com.au/wp-content/uploads/2013/10/ScreenHunter_17-Oct.-14-11.48.gif)
![ScreenHunter_18 Oct. 14 11.48](https://www.macrobusiness.com.au/wp-content/uploads/2013/10/ScreenHunter_18-Oct.-14-11.48.gif)
The ABS only provides the value of investor finance commitments. These were flat in August, but were up by 26% over the year and remained at the highest level since June 2007 (see next chart).
![ScreenHunter_19 Oct. 14 11.50](https://www.macrobusiness.com.au/wp-content/uploads/2013/10/ScreenHunter_19-Oct.-14-11.50.gif)
Overall, this is looks like a weak release, with owner-occupied mortgage demand falling sharply, led by FHBs, and average loan sizes also starting to trend lower. It remains an investor-led housing bounce.