5609.0 - Housing Finance, Australia, Jun 2016 Quality Declaration 
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 10/08/2016   
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SUMMARY OF FINDINGS


DWELLINGS FINANCED

Value of Dwellings Financed

The total value of dwelling commitments excluding alterations and additions (trend) rose 0.4% in June 2016 compared with May 2016, while the seasonally adjusted series rose 2.3% in June 2016.

The total value of owner occupied housing commitments (trend) rose (up $34m, 0.2%) in June 2016. Rises were recorded in commitments for the purchase of new dwellings (up $7m, 0.7%), commitments for the purchase of established dwellings (up $33m, 0.2%), while a fall was recorded in commitments for the construction of dwellings (down $6m, 0.3%). The seasonally adjusted series for the total value of owner occupied housing commitments rose 1.8% in June 2016.

The total value of investment housing commitments (trend) rose (up $88m, 0.8%) in June 2016 compared with May 2016. A rise was recorded in commitments for the purchase of dwellings by individuals for rent or resale (up $115m, 1.3%), while falls were recorded in commitments for the purchase of dwellings by others for rent or resale (down $21m, 2%) and commitments for the construction of dwellings for rent or resale (down $5m, 0.4%). The seasonally adjusted series for the total value of investment housing commitments rose 3.2% in June 2016.

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

INVESTMENT HOUSING - TOTAL
Graph: INVESTMENT HOUSING - TOTAL



Number of Owner Occupied Dwellings Financed

The number of owner occupied housing commitments (trend) rose 0.2% in June 2016, following a rise of 0.2% in May 2016. Rises were recorded in commitments for the purchase of established dwellings excluding refinancing (up 82, 0.3%), commitments for the refinancing of established dwellings (up 17, 0.1%), and commitments for the purchase of new dwellings (up 9, 0.3%), while a fall was recorded in commitments for the construction of dwellings (down 7, 0.1%). The seasonally adjusted series for the total number of owner occupied housing commitments rose 1.2% in June 2016.

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

Graph: Graph shows number of owner occupied dwellings financed


Number of Owner Occupied Dwellings Financed - State

Between May 2016 and June 2016, the number of owner occupied housing commitments (trend) rose in Victoria (up 71, 0.5%), Queensland (up 39, 0.4%), South Australia (up 31, 0.8%), the Australian Capital Territory (up 18, 1.5%), Tasmania (up 12, 1.2%) and the Northern Territory (up 5, 1.5%), while falls were recorded in Western Australia (down 65, 1.0%) and New South Wales (down 69, 0.4%).

The seasonally adjusted estimates rose in Queensland (up 265, 2.4%), Victoria (up 79, 0.5%), the Northern Territory (up 13, 3.8%) and Tasmania (up 12, 1.2%), while falls were recorded in the Australian Capital Territory (down 10, 0.8%), South Australia (down 15, 0.4%), Western Australia (down 193, 3.0%) and New South Wales (down 236, 1.4%).

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 14.3% in June 2016 from 14.2% in May 2016.

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) rose 0.3% in June 2016, following a rise of 0.2% in May 2016. The seasonally adjusted series rose 2.0% in June 2016, after a fall of 0.2% in May 2016.

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

Graph: Graph shows number of owner occupied dwellings financed, excluding refinancing


PURPOSE OF FINANCE (OWNER OCCUPATION)

Construction of dwellings

The number of finance commitments for the construction of dwellings for owner occupation (trend) fell 0.1% in June 2016, following a fall of 0.3% in May 2016. The seasonally adjusted series rose 2.1% in June 2016, after a fall of 2.0% in May 2016.

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

Graph: Graph shows commitments for construction of dwellings for owner occupation


Purchase of new dwellings

The number of finance commitments for the purchase of new dwellings for owner occupation (trend) rose 0.6% in June 2016, following a rise of 0.8% in May 2016. The seasonally adjusted series rose 2.7% in June 2016, after a rise of 1.3% in May 2016.

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

Graph: Graph shows commitments for the purchase of new dwellings for owner occupation


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 0.2% in June 2016, following a rise of 0.2% in May 2016. The seasonally adjusted series rose 1.0% in June 2016, after a fall of 0.8% in May 2016.

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

Graph: Graph shows number of owner occupied established dwellings financed, including refinancing


Refinancing

The number of refinancing commitments for owner occupied housing (trend) rose 0.1% in June 2016, following a rise of 0.3% in May 2016. The seasonally adjusted series fell 0.4% in June 2016, following a fall of 1.9% in May 2016.

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

Graph: Graph shows number of owner occupied dwellings refinanced


TYPE OF LENDER (OWNER OCCUPATION)

Banks

The number of commitments for owner occupied dwellings financed by banks (trend) rose 0.5% in June 2016, following a rise of 0.5% in May 2016. The seasonally adjusted series rose 1.3% in June 2016, after a fall of 0.4% in May 2016.

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

Graph: Graph shows number of owner occupied dwellings financed by banks


Non-banks

The number of commitments for owner occupied dwellings financed by non-banks (trend) fell 3.2% in June 2016, following a fall of 3.3% in May 2016. The seasonally adjusted series fell 0.1% in June 2016, following a fall of 5.9% in May 2016.

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

Graph: Graph shows number of owner occupied dwellings financed by non-banks


HOUSING LOAN OUTSTANDINGS

At the end of June 2016, the value of outstanding housing loans financed by Authorised Deposit-taking Institutions (ADIs) was $1,510b, up $11b (0.7%) from the May 2016 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $9b (0.9%) to $976b, and investment housing loan outstandings financed by ADIs rose $2.1b (0.4%) to $534b.

Bank housing loan outstandings rose $11b (0.8%) during June 2016 to reach a closing balance of $1,471b. Owner occupied housing loan outstandings of banks rose $9b (0.9%) to $946b, and investment housing loan outstandings of banks rose $2.1b (0.4%) to $525b.

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