5609.0 - Housing Finance, Australia, September 2018 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 09/11/2018   
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SUMMARY OF FINDINGS


DWELLINGS FINANCED

Value of Dwellings Financed

The total value of dwelling commitments excluding alterations and additions (trend) fell 1.1% in September 2018 compared with August 2018, while the seasonally adjusted series fell 3.8% in September 2018.

The total value of owner occupied housing commitments (trend) fell (down $234m, 1.2%) in September 2018. Falls were recorded in commitments for the purchase of established dwellings (down $187m, 1.1%), commitments for the purchase of new dwellings (down $25m, 2.2%) and commitments for the construction of dwellings (down $23m, 1.2%). The seasonally adjusted series for the total value of owner occupied housing commitments fell 4.2% in September 2018.

The total value of investment housing commitments (trend) fell (down $93m, 0.9%) in September 2018 compared with August 2018. Falls were recorded in commitments for the purchase of dwellings by individuals for rent or resale (down $52m, 0.6%), commitments for the construction of dwellings for rent or resale (down $24m, 2.5%) and commitments for the purchase of dwellings by others for rent or resale (down $17m, 2.2%). The seasonally adjusted series for the total value of investment housing commitments fell 2.8% in September 2018.

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 0.5% in September 2018, following a fall of 0.7% in August 2018. Falls were recorded in commitments for the purchase of established dwellings (down 178, 0.4%), commitments for the construction of dwellings (down 54, 1.0%) and commitments for the purchase of new dwellings (down 45, 1.7%). The seasonally adjusted series for the total number of owner occupied housing commitments fell 1.0% in September 2018.

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 2018 and September 2018, the number of owner occupied housing commitments (trend) fell in Victoria (down 137, 0.9%), New South Wales (down 96, 0.6%), Queensland (down 62, 0.6%) and the Northern Territory (down 2, 0.8%), while rises were recorded in Western Australia (up 28, 0.6%), South Australia (up 11, 0.3%), Tasmania (up 2, 0.2%) and the Australian Capital Territory (up 1, 0.1%).

The seasonally adjusted estimates fell in Victoria (down 652, 4.3%), New South Wales (down 157, 1.0%), South Australia (down 117, 3.3%), the Australian Capital Territory (down 41, 3.7%), Tasmania (down 9, 0.8%) and Queensland (down 5, 0.1%), while rises were recorded in Western Australia (up 225, 4.7%) and the Northern Territory (up 22, 9.6%).

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 18.0% in September 2018 from 17.8% in August 2018. Between August 2018 and September 2018, the average loan size for first home buyers fell $3,400 to $341,600. The average loan size for all owner occupied housing commitments fell $10,300 to $385,500 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 0.9% in September 2018, following a fall of 1.0% in August 2018. The seasonally adjusted series fell 0.5% in September 2018, following a fall of 3.0% in August 2018.

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 1.0% in September 2018, following a fall of 0.9% in August 2018. The seasonally adjusted series fell 3.5% in September 2018, following a fall of 6.5% in August 2018.

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) fell 1.7% in September 2018, following a fall of 2.2% in August 2018. The seasonally adjusted series fell 3.9% in September 2018, after a rise of 0.1% in August 2018.

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 0.4% in September 2018, following a fall of 0.5% in August 2018. The seasonally adjusted series fell 0.5% in September 2018, following a fall of 1.7% in August 2018.

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 0.2% in September 2018, while August 2018 was flat. The seasonally adjusted series fell 1.8% in September 2018, following a fall of 0.6% in August 2018.

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 0.5% in September 2018, following a fall of 0.7% in August 2018. The seasonally adjusted series fell 0.6% in September 2018, following a fall of 2.3% in August 2018.

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 0.5% in September 2018, following a fall of 0.3% in August 2018. The seasonally adjusted series fell 5.0% in September 2018, following a fall of 1.4% in August 2018.

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 2018, the value of outstanding housing loans financed by Authorised Deposit-taking Institutions (ADIs) was $1,690b, up $3b (0.2%) from the August 2018 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $3b (0.3%) to $1,124b and investment housing loan outstandings financed by ADIs was flat at $565b.

Bank housing loan outstandings rose $3b (0.2%) during September 2018 to reach a closing balance of $1,653b. Owner occupied housing loan outstandings of banks rose $4b (0.3%) to $1,095b and investment housing loan outstandings of banks was flat at $557b.

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