5609.0 - Housing Finance, Australia, Sep 2016 Quality Declaration 
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 10/11/2016   
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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 0.2% in September 2016 compared with August 2016, while the seasonally adjusted series rose 2.3% in September 2016.

The total value of owner occupied housing commitments (trend) fell (down $99m, 0.5%) in September 2016. A fall was recorded in the commitments for the purchase of established dwellings (down $111m, 0.6%), while rises were recorded in commitments for the construction of dwellings (up $8m, 0.4%), and commitments for the purchase of new dwellings (up $4m, 0.4%). The seasonally adjusted series for the total value of owner occupied housing commitments rose 0.9% in September 2016.

The total value of investment housing commitments (trend) rose (up $159m, 1.3%) in September 2016 compared with August 2016. Rises were recorded in commitments for the purchase of dwellings by individuals for rent or resale (up $238m, 2.4%), and commitments for the purchase of dwellings by others for rent or resale (up $6m, 0.6%), while a fall was recorded in commitments for the construction of dwellings for rent or resale (down $86m, 8.7%). The seasonally adjusted series for the total value of investment housing commitments rose 4.6% in September 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) fell 1.0% in September 2016, following a fall of 1.1% in August 2016. Falls were recorded in commitments for the construction of dwellings (down 22, 0.4%), commitments for the refinancing of established dwellings (down 178, 0.9%), and commitments for the purchase of established dwellings excluding refinancing (down 327, 1.2%), while commitments for the purchase of new dwellings was flat. The seasonally adjusted series for the total number of owner occupied housing commitments rose 1.6% in September 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 August 2016 and September 2016, the number of owner occupied housing commitments (trend) fell in Victoria (down 205, 1.4%), New South Wales (down 144, 0.9%), Western Australia (down 44, 0.7%), the Australian Capital Territory (down 39, 3.9%), Queensland (down 15, 0.1%), South Australia (down 9, 0.2%) and the Northern Territory (down 7, 2.1%), while a rise was recorded in Tasmania (up 6, 0.6%).

The seasonally adjusted estimates rose in Victoria (up 555, 3.9%), New South Wales (up 374, 2.3%), Queensland (up 302, 2.8%), South Australia (up 90, 2.3%), Tasmania (up 38, 3.9%) and the Northern Territory (up 7, 2.2%), while falls were recorded in the Australian Capital Territory (down 38, 3.9%), and Western Australia (down 186, 3.0%).

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 fell to 13.1% in September 2016 from 13.2% in August 2016. Between August 2016 and September 2016, the average loan size for first home buyers rose $6,000 to $324,300. The average loan size for all owner occupied housing commitments rose $4,600 to $367,600 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 1.0% in September 2016, following a fall of 1.2% in August 2016. The seasonally adjusted series rose 0.5% in September 2016, after a fall of 1.6% in August 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 0.4% in September 2016, following a fall of 0.5% in August 2016. The seasonally adjusted series fell 0.8% in September 2016, after a rise of 3.3% in August 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) was flat in September 2016, after a rise of 0.1% in August 2016. The seasonally adjusted series rose 0.9% in September 2016, following a rise of 0.1% in August 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) fell 1.1% in September 2016, following a fall of 1.3% in August 2016. The seasonally adjusted series rose 2.0% in September 2016, after a fall of 3.6% in August 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) fell 0.9% in September 2016, following a fall of 0.9% in August 2016. The seasonally adjusted series rose 3.7% in September 2016, after a fall of 4.6% in August 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) fell 1.0% in September 2016, following a fall of 1.1% in August 2016. The seasonally adjusted series rose 1.8% in September 2016, after a fall of 2.9% in August 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 0.7% in September 2016, following a fall of 1.1% in August 2016. The seasonally adjusted series rose 0.1% in September 2016, after a fall of 0.4% in August 2016. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) rose 2.5% in September 2016, following a rise of 1.3% in August 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 September 2016, the value of outstanding housing loans financed by Authorised Deposit-taking Institutions (ADIs) was $1,531b, up $7b (0.5%) from the August 2016 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $5b (0.5%) to $992b, and investment housing loan outstandings financed by ADIs rose $1.8b (0.3%) to $539b.

Bank housing loan outstandings rose $7b (0.5%) during September 2016 to reach a closing balance of $1,494b. Owner occupied housing loan outstandings of banks rose $5b (0.5%) to $963b and investment housing loan outstandings of banks rose $1.8b (0.3%) to $530b.

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