SUMMARY OF FINDINGS


DWELLINGS FINANCED

Value of Dwellings Financed

The total value of dwelling commitments excluding alterations and additions (trend) rose 0.5% in September 2015 compared with August 2015, while the seasonally adjusted series fell 1.6% in September 2015.

The total value of owner occupied housing commitments (trend) rose (up $411m, 2.0%) in September 2015. Rises were recorded in commitments for the purchase of established dwellings (up $364m, 2.1%), commitments for the purchase of new dwellings (up $39m, 3.3%) and commitments for the construction of dwellings (up $8m, 0.5%). The seasonally adjusted series for the total value of owner occupied housing commitments rose (up $606m, 3.0%) in September 2015.

The total value of investment housing commitments (trend) fell (down $250m, 1.9%) in September 2015 compared with August 2015. Falls were recorded in commitments for the construction of dwellings for rent or resale (down $67m, 7.8%) and commitments for the purchase of dwellings by individuals for rent or resale (down $187m, 1.7%), while a rise was recorded in commitments for the purchase of dwellings by others for rent or resale (up $5m, 0.4%). The seasonally adjusted series for the total value of investment housing commitments fell (down $1,151m, 8.5%) in September 2015.

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

Number of Owner Occupied Dwellings Financed

The number of owner occupied housing commitments (trend) rose 0.7% in September 2015, following a rise of 0.7% in August 2015. Rises were recorded in commitments for the purchase of established dwellings excluding refinancing (up 393, 1.4%) and commitments for the purchase of new dwellings (up 37, 1.3%), while falls were recorded in commitments for the refinancing of established dwellings (down 36, 0.2%) and commitments for the construction of dwellings (down 8, 0.1%). The seasonally adjusted series for the total number of owner occupied housing commitments rose (up 1,109, 2%) in September 2015.

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

Number of Owner Occupied Dwellings Financed - State

Between August 2015 and September 2015, the number of owner occupied housing commitments (trend) rose in New South Wales (up 362, 2.1%), Victoria (up 121, 0.8%), South Australia (up 30, 0.8%) and the Australian Capital Territory (up 1, 0.1%), while falls were recorded in Queensland (down 45, 0.4%), Western Australia (down 44, 0.7%), Tasmania (down 7, 0.7%) and the Northern Territory (down 4, 1.3%).

The seasonally adjusted estimates rose in New South Wales (up 527, 3.0%), Victoria (up 297, 2.0%), Queensland (up 125, 1.2%), South Australia (up 100, 2.8%), Western Australia (up 79, 1.2%), the Australian Capital Territory (up 71, 7.9%) and the Northern Territory (up 5, 1.5%), while a fall was recorded in Tasmania (down 44, 4.9%).

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 15.4% in September 2015 from 15.8% in August 2015. Between August 2015 and September 2015, the average loan size for first home buyers rose $2,500 to $351,800. The average loan size for all owner occupied housing commitments rose $8,400 to $379,400 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 1.2% in September 2015, following a rise of 1.2% in August 2015. The seasonally adjusted series rose 0.7% in September 2015, following a rise of 3.8% in August 2015.

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

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 September 2015, following a fall of 0.4% in August 2015. The seasonally adjusted series rose 1.9% in September 2015, following a rise of 0.7% in August 2015.

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

Purchase of new dwellings

The number of finance commitments for the purchase of new dwellings for owner occupation (trend) rose 1.3% in September 2015, following a rise of 1.4% in August 2015. The seasonally adjusted series rose 5.4% in September 2015, following a rise of 1.7% in August 2015.

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

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 0.8% in September 2015, following a rise of 0.8% in August 2015. The seasonally adjusted series rose 1.8% in September 2015, following a rise of 1.6% in August 2015.

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

Refinancing

The number of refinancing commitments for owner occupied housing (trend) fell 0.2% in September 2015, following a fall of 0.2% in August 2015. The seasonally adjusted series rose 4.7% in September 2015, after a fall of 2.9% in August 2015.

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

TYPE OF LENDER (OWNER OCCUPATION)

Banks

The number of commitments for owner occupied dwellings financed by banks (trend) rose 0.8% in September 2015, following a rise of 0.9% in August 2015. The seasonally adjusted series rose 1.8% in September 2015, following a rise of 1.6% in August 2015.

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

Non-banks

The number of commitments for owner occupied dwellings financed by non-banks (trend) fell 0.3% in September 2015, following a fall of 0.6% in August 2015. The seasonally adjusted series rose 4.3% in September 2015, after a fall of 0.1% in August 2015.

The number of commitments for owner occupied dwellings financed by permanent building societies (trend) fell 9.5% in September 2015, following a fall of 8.3% in August 2015. The seasonally adjusted series fell 9.8% in September 2015, following a fall of 25.2% in August 2015.

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

HOUSING LOAN OUTSTANDINGS

At the end of September 2015, the value of outstanding housing loans financed by Authorised Deposit-taking Institutions (ADIs) was $1,430b, up $9b (0.6%) from the August 2015 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $12b (1.3%) to $889b and investment housing loan outstandings financed by ADIs fell $3b (0.5%) to $542b.

Bank housing loan outstandings rose $10b (0.7%) during September 2015 to reach a closing balance of $1,388b. Owner occupied housing loan outstandings of banks rose $13b (1.5%) to $855b and investment housing loan outstandings of banks fell $3b (0.5%) to $532b.

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