5609.0 - Housing Finance, Australia, January 2017 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 10/03/2017   
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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 1.1% in January 2017 compared with December 2016 and the seasonally adjusted series rose 1.5% in January 2017.

The total value of owner occupied housing commitments (trend) rose (up $101m, 0.5%) in January 2017. Rises were recorded in commitments for the purchase of new dwellings (up $15m, 1.4%) and commitments for the purchase of established dwellings (up $87m, 0.5%). Commitments for the construction of dwellings was flat. The seasonally adjusted series for the total value of owner occupied housing commitments fell 0.2% in January 2017.

The total value of investment housing commitments (trend) rose (up $252m, 1.9%) in January 2017 compared with December 2016. Rises were recorded in commitments for the purchase of dwellings by individuals for rent or resale (up $149m, 1.3%), commitments for the construction of dwellings for rent or resale (up $55m, 5.2%) and commitments for the purchase of dwellings by others for rent or resale (up $48m, 4.1%). The seasonally adjusted series for the total value of investment housing commitments rose 4.2% in January 2017.

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 0.6% in January 2017, following a rise of 0.4% in December 2016. Rises were recorded in commitments for the purchase of established dwellings excluding refinancing (up 410, 1.5%), commitments for the purchase of new dwellings (up 48, 1.7%) and commitments for the construction of dwellings (up 8, 0.1%). The seasonally adjusted series for the total number of owner occupied housing commitments rose 0.5% in January 2017.

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 December 2016 and January 2017, the number of owner occupied housing commitments (trend) rose in Victoria (up 144, 1.0%), New South Wales (up 133, 0.8%), Queensland (up 71, 0.7%) and the Australian Capital Territory (up 29, 2.7%), while falls were recorded in Western Australia (down 63, 1.1%), South Australia (down 14, 0.4%), Tasmania (down 7, 0.7%) and the Northern Territory (down 1, 0.6%).

The seasonally adjusted estimates rose in Victoria (up 234, 1.6%), New South Wales (up 224, 1.3%), Queensland (up 174, 1.6%), South Australia (up 164, 4.4%), the Australian Capital Territory (up 21, 1.9%) and Western Australia (up 18, 0.3%), while falls were recorded in Tasmania (down 25, 2.5%) and the Northern Territory (down 15, 5.3%).

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 13.4% in January 2017 from 13.8% in December 2016. Between December 2016 and January 2017, the average loan size for first home buyers fell $4,400 to $315,100. The average loan size for all owner occupied housing commitments fell $12,200 to $363,600 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) rose 1.3% in January 2017, following a rise of 1.2% in December 2016. The seasonally adjusted series fell 1.7% in January 2017, after a rise of 2.6% in December 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) rose 0.1% in January 2017, after a fall of 0.1% in December 2016. The seasonally adjusted series fell 1.4% in January 2017, following a fall of 1.3% in December 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 1.7% in January 2017, following a rise of 1.7% in December 2016. The seasonally adjusted series fell 0.3% in January 2017, after a rise of 3.1% in December 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 0.5% in January 2017, following a rise of 0.3% in December 2016. The seasonally adjusted series rose 0.8% in January 2017, following a rise of 0.3% in December 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 January 2017, following a fall of 1.2% in December 2016. The seasonally adjusted series rose 5.0% in January 2017, after a fall of 4.2% in December 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 January 2017, following a rise of 0.3% in December 2016. The seasonally adjusted series rose 0.1% in January 2017, after a fall of 0.2% in December 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) rose 1.2% in January 2017, following a rise of 1.0% in December 2016. The seasonally adjusted series rose 4.7% in January 2017, following a rise of 6.2% in December 2016. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) fell 10.4% in January 2017, following a fall of 10.2% in December 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 January 2017, the value of outstanding housing loans financed by Authorised Deposit-taking Institutions (ADIs) was $1,567b, up $6b (0.4%) from the December 2016 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $4b (0.4%) to $1,017b and investment housing loan outstandings financed by ADIs rose $1.8b (0.3%) to $550b.

Bank housing loan outstandings rose $6b (0.4%) during January 2017 to reach a closing balance of $1,529b. Owner occupied housing loan outstandings of banks rose $4b (0.4%) to $988b and investment housing loan outstandings of banks rose $1.7b (0.3%) to $541b.

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