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Thursday, 9 December 1971
Page: 4608

Mr Whitlam asked the Treasurer, upon, notice:

(1)   What amounts were advanced in housing loans by (a) savings banks, (b) trading banks, (c) permanent building societies, (d) terminating building societies, (e) life offices, (f) superannuation funds, (g) Commonwealth authorities, (h) State authorities and (i) Territory authorities, in the latest year for which figures are available.

(2)   Will he give the figures by States and Territories.

Mr Snedden - The answer to the honourable member's question is as follows. The information in respect of parts (a), (c), (d), (e), (f) and (h) has been provided by the Acting Commonwealth Statistician, in respect of (b) by the ReserveBank, and in respect of (g) and (i) by the Department of Housing:

(a)   Savings Banks - The amounts actually advanced as housing loans by savings banks are not avalable but Table 1 provides details of loans approved to individuals by savings banks for housing finance during the 12 months ended 30th June 1971.


(b)   Trading Banks - New and increased lending commitments to individuals for the building or purchase of their own home by major trading banks in 1970-71 totalled $188m. A dissection of this amount by States and Territories is not available.

(c)   Permanent Building Societies- Table 2 shows the housing loans advanced by permanent building societies during the 12 months ended 30th June 1971.


(d)   Terminating and Starr-Bowkett Bonding Societies- Table 3 shows the housing loans advanced by terminating and Starr-Bowkett building societies in each State during the accounting years of those societies ended during the financial year 1968-69. Similar information is not available in respect of the Northern Territory and the Australian Capital Territory.


(e)Life Offices- Table 4 provides details of new loans paid over by life insurance offices on the security of mortgages over real estate during the 12 months ended 30th June 1971. As the amounts shown relate to loans made on the security of mortgages they do not necessarily relate to the financing of the purchase or construction of dwellings.


(f)   Superannuation Funds- The only information available on the amounts advanced as housing loans by superannuation funds relates to the South Australian Superannuation Fund. During 1969-70 the value of advances on first mortgage made by this fund was$2.1m.

(g)   The information currently available on housing loans by Commonwealth housing authorities other than the Territory hewing authorities referred to in (i), is as follows.

War Service Homes- Table 5 shows the advances for homes under the War Service Homes Scheme in 1970-71.


(Jb) State Authorities - The available information on advances made by various State and semigovernment authorities to enable eligible persons to acquire a house is given below. Wherever possible, advances made by State authorities to financial institutions which provide loans, e.g. advances made to building societies from monies provided by the Commonwealth under the terms of the Commonwealth-State Housing Agreements, have been excluded from the figures shown below.

New South Wales -

In 1969-70 the Rural Bank of . New South Wales, through its Sale of Homes Agency, advanced $17.5m. In addition, the bank provided $0.5m, through its Building Society Agency, direct to applicants in areas where no building societies existed.


In 1969-70 the State Housing Commission advanced SI 8.6m for the term sale of houses while a further 83.1m was advanced from the Home Finance Trust

Queensland -

In 1969-70 the Queensland Housing Commission advanced $7.1m in housing loans.

Sooth Australia -

In 1969-70 the State Bank of South Australia advanced 814.0m in housing loans and $0.9m was advanced by the South Australian Housing Trust on second mortgages.

Western Australia -

In 1969-70 the State Housing Commission advanced $9. 7m in housing loans.

Tasmania -

In 1969-70 the Agricultural Bank of Tasmania advanced $2.3m in housing loans.

Australian Capital Territory- The total of new advances made and secured by mortgage by the Commissioner of Housing in the Australian Capital Territory on privately built dwellings in 1970- 71 was S9.6m. In addition, in the Australian Capital Territory, provision is made for tenants of government built houses to purchase their homes, the balance of moneys unpaid on the purchase being covered by a mortgage to the Commonwealth. The amounts of new mortgages raised in this way in 1970-71 amounted to $6.6m.

Northern Territory - In the Northern Territory there are three government agencies which make loans for housing purposes. The Administration provides houses for permanent public servants which may be purchased by the tenants. The Housing Commission provides housing for persons of limited means, who are not officers of the Commonwealth or Northern Territory Public Service, and the Home Finance Trustee provides financial assistance for residents for the purpose of construction, purchasing, enlarging or completion of dwellings, and in certain cases for the discharge of mortgages. This ' latter scheme is financed with advances obtained from financial institutions. The total value of new loans made under each of these schemes in the Territory in 1970-71 was: Northern Territory Housing Commission - $2.1m

Northern Territory Administration - $2.25m Home Finance Trustee - $0.2m.

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