SUMMARY OF FINDINGS


DWELLINGS FINANCED

Value of Dwellings Financed

The total value of dwelling commitments excluding alterations and additions (trend) rose 0.8% in February 2015 compared with January 2015, while the seasonally adjusted series fell 1.0% in February 2015.

The total value of owner occupied housing commitments (trend) rose (up $184m, 1.0%) in February 2015. A rise was recorded in commitments for the purchase of established dwellings (up $196m, 1.3%) while falls were recorded in commitments for the purchase of new dwellings (down $7m, 0.7%) and commitments for the construction of dwellings (down $6m, 0.3%). The seasonally adjusted series for the total value of owner occupied housing commitments rose 0.5% in February 2015.

The total value of investment housing commitments (trend) rose (up $47m, 0.4%) in February 2015 compared with January 2015. Rises were recorded in commitments for the purchase of dwellings by individuals for rent or resale (up $47m, 0.4%) and commitments for the purchase of dwellings by others for rent or resale (up $21m, 2.0%), while a fall was recorded in commitments for the construction of dwellings for rent or resale (down $21m, 2.5%). The seasonally adjusted series for the total value of investment housing commitments fell 3.4% in February 2015.

Further detail can be found in Tables 11, 1 and 2 on the downloads tab of this release and in the PDF.

Number of Owner Occupied Dwellings Financed

The number of owner occupied housing commitments (trend) rose 0.2% in February 2015, following a rise of 0.3% in January 2015. Rises were recorded in commitments for the refinancing of established dwellings (up 180, 0.9%) and commitments for the purchase of established dwellings excluding refinancing (up 45, 0.2%), while falls were recorded in commitments for the construction of dwellings (down 67, 1.1%) and commitments for the purchase of new dwellings (down 38, 1.4%). The seasonally adjusted series for the total number of owner occupied housing commitments rose 1.2% in February 2015.

Further detail can be found in Tables 1 and 2 on the downloads tab of this release and in the PDF.

Number of Owner Occupied Dwellings Financed - State

Between January 2015 and February 2015, the number of owner occupied housing commitments (trend) rose in New South Wales (up 185, 1.2%), Victoria (up 84, 0.6%) and Tasmania (up 6, 0.6%), while falls were recorded in Western Australia (down 53, 0.7%), Queensland (down 44, 0.4%), South Australia (down 24, 0.7%), the Northern Territory (down 10, 3.0%) and the Australian Capital Territory (down 2, 0.2%).

The seasonally adjusted estimates rose in Victoria (up 412, 2.9%), New South Wales (up 180, 1.1%), South Australia (up 74, 2.3%), Western Australia (up 73, 1.0%), the Northern Territory (up 30, 9.5%) and the Australian Capital Territory (up 29, 3.5%), while falls were recorded in Queensland (down 114, 1.1%) and Tasmania (down 66, 6.9%).

Further detail can be found in Tables 5 and 6 on the downloads tab of this release and in the PDF.


First Home Buyer Commitments

In original terms, the number of first home buyer commitments as a percentage of total owner occupied housing finance commitments rose to 13.7% in February 2015 from 13.6% in January 2015. Between January 2015 and February 2015, the average loan size for first home buyers fell $1,900 to $331,200. The average loan size for all owner occupied housing commitments fell $11,100 to $337,200 for the same period.

Further detail can be found in Table 9a on the downloads tab of this release and in Table 9 of the PDF.


Number of Owner Occupied Dwellings Financed Excluding Refinancing

The number of owner occupied housing commitments excluding refinancing (trend) fell 0.2% in February 2015, following a fall of 0.2% in January 2015. The seasonally adjusted series fell 0.2% in February 2015, following a fall of 1.9% in January 2015.

Further detail can be found in Tables 1 and 2 on the downloads tab of this release and in the PDF.

PURPOSE OF FINANCE (OWNER OCCUPATION)

Construction of dwellings

The number of finance commitments for the construction of dwellings for owner occupation (trend) fell 1.1% in February 2015, following a fall of 1.1% in January 2015. The seasonally adjusted series rose 0.6% in February 2015, after a fall of 4.5% in January 2015.

Further detail can be found in Tables 1 and 2 on the downloads tab of this release and in the PDF.

Purchase of new dwellings

The number of finance commitments for the purchase of new dwellings for owner occupation (trend) fell 1.4% in February 2015, following a fall of 1.7% in January 2015. The seasonally adjusted series rose 5.4% in February 2015, after a fall of 7.5% in January 2015.

Further detail can be found in Tables 1 and 2 on the downloads tab of this release and in the PDF.

Purchase of established dwellings (including refinancing across lending institutions)

The number of finance commitments for the purchase of established dwellings for owner occupation (trend) rose 0.5% in February 2015, following a rise of 0.6% in January 2015. The seasonally adjusted series rose 1.0% in February 2015, after a fall of 0.9% in January 2015.

Further detail can be found in Tables 1 and 2 on the downloads tab of this release and in the PDF.

Refinancing

The number of refinancing commitments for owner occupied housing (trend) rose 0.9% in February 2015, following a rise of 1.1% in January 2015. The seasonally adjusted series rose 3.6% in February 2015, after a fall of 1.1% in January 2015.

Further detail can be found in Tables 1 and 2 on the downloads tab of this release and in the PDF.

TYPE OF LENDER (OWNER OCCUPATION)

Banks

The number of commitments for owner occupied dwellings financed by banks (trend) rose 0.2% in February 2015, following a rise of 0.3% in January 2015. The seasonally adjusted series rose 1.3% in February 2015, after a fall of 1.6% in January 2015.

Further detail can be found in Tables 3 and 4 on the downloads tab of this release and in the PDF.

Non-banks

The number of commitments for owner occupied dwellings financed by non-banks (trend) rose 0.3% in February 2015, following a rise of 0.3% in January 2015. The seasonally adjusted series rose 0.2% in February 2015, after a fall of 2.5% in January 2015. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) fell 2.2% in February 2015, following a fall of 1.3% in January 2015. The seasonally adjusted series fell 11.6% in February 2015, following a fall of 20.4% in January 2015.

Further detail can be found in Tables 3 and 4 on the downloads tab of this release and in the PDF.

HOUSING LOAN OUTSTANDINGS

At the end of February 2015, the value of outstanding housing loans financed by Authorised Deposit-taking Institutions (ADIs) was $1,375,626m, up $7,138m (0.5%) from the January 2015 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $4,010m (0.4%) to $900,719m and investment housing loan outstandings financed by ADIs rose $3,128m (0.7%) to $474,907m.

Bank housing loan outstandings rose $6,975m (0.5%) during February 2015 to reach a closing balance of $1,328,685m. Owner occupied housing loan outstandings of banks rose $3,852m (0.4%) to $863,291m and investment housing loan outstandings of banks rose $3,123m (0.7%) to $465,394m.

Further detail can be found in Table 12 on the downloads tab of this release and in the PDF.