5609.0 - Housing Finance, Australia, Feb 2016 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 11/04/2016   
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FEBRUARY KEY FIGURES

Trend estimates
Seasonally adjusted estimates
Feb 2016
Jan 2016 to Feb 2016
Feb 2016
Jan 2016 to Feb 2016

Value of dwelling commitments(a)(b)

$m
% change
$m
% change
Total dwellings
32 531
-0.4
32 807
2.6
Owner occupied housing
21 055
-0.6
20 905
1.7
Investment housing - fixed loans(c)
11 475
0.0
11 902
4.1

Number of dwelling commitments(a)(b)

no.
% change
no.
% change
Owner occupied housing
56 924
0.0
56 562
1.5
Construction of dwellings
5 859
-0.2
5 729
-1.9
Purchase of new dwellings
2 876
-1.5
2 577
-15.4
Purchase of established dwellings
48 189
0.1
48 256
3.0

(a) Includes refinancing (see Glossary).
(b) Excludes alterations and additions.
(c) Excludes revolving credit.

Value of dwelling commitments, Total dwellings
Graph: Value of dwelling commitments, Total dwellings

No. of dwelling commitments, Owner occupied housing
Graph: No. of dwelling commitments, Owner occupied housing




FEBRUARY KEY POINTS


VALUE OF DWELLING COMMITMENTS

February 2016 compared with January 2016:
  • The trend estimate for the total value of dwelling finance commitments excluding alterations and additions fell 0.4%. Owner occupied housing commitments fell 0.6%, while investment housing commitments was flat.
  • In seasonally adjusted terms, the total value of dwelling finance commitments excluding alterations and additions rose 2.6%.


NUMBER OF DWELLING COMMITMENTS

February 2016 compared with January 2016:
  • In trend terms, the number of commitments for owner occupied housing finance were flat in February 2016.
  • In trend terms, the number of commitments for the purchase of new dwellings fell 1.5%, the number of commitments for the construction of dwellings fell 0.2%, and the number of commitments for the purchase of established dwellings rose 0.1%.
  • In original terms, the number of first home buyer commitments as a percentage of total owner occupied housing finance commitments fell to 14.7% in February 2016 from 15.1% in January 2016.


NOTES

FORTHCOMING ISSUES

ISSUE Release Date
March 2016 11 May 2016
April 2016 8 June 2016
May 2016 11 July 2016
June 2016 10 August 2016
July 2016 9 September 2016
August 2016 11 October 2016



REVISIONS

In this issue, revisions have been made to the original series as a result of improved reporting of survey and administrative data, and updated first home buyer modelled estimates. These revisions have affected the following series:
  • First home buyers owner occupied housing for period September 2015 to January 2016.
  • Owner occupied housing for period September 2015 to January 2016.
  • Investment housing for period September 2015 to January 2016.
  • Housing loan outstandings to households; owner-occupied and investment housing: for certain periods from October 2013 to January 2016.


FIRST HOME BUYERS

Monthly First Home Buyer statistics will be subject to future revision, as the modelled component is adjusted to reflect improved reporting by lenders. Information relating to changes to the method of estimating loans to first home buyers, introduced from the December 2014 issue, can be found under the First Home Buyers web page and on page 5 of the PDF. First home buyers are defined as persons entering the home ownership market as owner-occupiers for the first time. First time investors are excluded.


CHANGES IN THIS ISSUE

Market reactions to regulatory measures implemented by APRA in 2015 has resulted in increased volatility in some of the seasonally adjusted estimates included in this publication, particularly the value of finance commitments for owner occupied housing and investor housing. Care should be taken in interpreting the movements for this reference period, as the seasonally adjusted estimates may be revised in future periods.

In addition, some banks have been reclassifying housing loans that originated as investment loans to owner occupied. This reclassification affects Table 12 Housing Loan Outstandings to Households only.


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INQUIRIES

For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070.