SUMMARY OF FINDINGS


DWELLINGS FINANCED

Value of Dwellings Financed

The total value of dwelling commitments excluding alterations and additions (trend) rose 0.6% in November 2014 compared with October 2014, while the seasonally adjusted series fell 1.0% in November 2014.

The total value of owner occupied housing commitments (trend) rose (up $78m, 0.5%) in November 2014. Rises were recorded in commitments for the purchase of established dwellings (up $65m, 0.5%) and commitments for the construction of dwellings (up $14m, 0.8%) while a fall was recorded in commitments for the purchase of new dwellings (down $1m, 0.1%). The seasonally adjusted series for the total value of owner occupied housing commitments fell 0.2% in November 2014.

The total value of investment housing commitments (trend) rose (up $107m, 0.9%) in November 2014 compared with October 2014. Rises were recorded in commitments for the purchase of dwellings by individuals for rent or resale (up $129m, 1.3%) and commitments for the construction of dwellings for rent or resale (up $25m, 3.3%) while a fall was recorded in commitments for the purchase of dwellings by others for rent or resale (down $47m, 4.7%). The seasonally adjusted series for the total value of investment housing commitments fell 2.2% in November 2014.

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) was flat in both November 2014 and October 2014. Rises were recorded in commitments for the refinancing of established dwellings (up 146, 0.8%) and commitments for the construction of dwellings (up 12, 0.2%), while falls were recorded in commitments for the purchase of established dwellings excluding refinancing (down 135, 0.5%) and commitments for the purchase of new dwellings (down 15, 0.5%). The seasonally adjusted series for the total number of owner occupied housing commitments fell 0.7% in November 2014.

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 October 2014 and November 2014, the number of owner occupied housing commitments (trend) rose in Victoria (up 84, 0.6%) and the Australian Capital Territory (up 10, 1.2%) while falls were recorded in New South Wales (down 66, 0.4%), South Australia (down 27, 0.8%), Queensland (down 23, 0.2%), Tasmania (down 11, 1.3%), Western Australia (down 8, 0.1%) and the Northern Territory (down 4, 1.1%).

The seasonally adjusted estimates fell in New South Wales (down 334, 2.2%), Western Australia (down 75, 1.0%), the Northern Territory (down 54, 13.3%), South Australia (down 53, 1.6%), Tasmania (down 34, 4.0%), Queensland (down 18, 0.2%) and the Australian Capital Territory (down 14, 1.5%) while a rise was recorded in Victoria (up 89, 0.6%).

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 11.6% in November 2014 from 11.4% in October 2014. Between October 2014 and November 2014, the average loan size for first home buyers rose $2,600 to $317,600. The average loan size for all owner occupied housing commitments rose $4,700 to $336,000 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 0.4% in November 2014, following a fall of 0.5% in October 2014. The seasonally adjusted series fell 0.8% in November 2014, following a fall of 1.3% in October 2014.

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) rose 0.2% in November 2014, following a rise of 0.3% in October 2014. The seasonally adjusted series fell 2.6% in November 2014, after a rise of 0.9% in October 2014.

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) fell 0.5% in November 2014, following a fall of 0.3% in October 2014. The seasonally adjusted series rose 1.3% in November 2014, after a fall of 4.4% in October 2014.

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) was flat in November 2014 and October 2014. The seasonally adjusted series fell 0.5% in November 2014, after a rise of 0.4% in October 2014.

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) rose 0.8% in November 2014, following a rise of 1.0% in October 2014. The seasonally adjusted series fell 0.6% in November 2014, after a rise of 3.1% in October 2014.

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) was flat in November 2014, after a rise of 0.1% in October 2014. The seasonally adjusted series fell 0.4% in November 2014, after a rise of 0.3% in October 2014.

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 November 2014, following a fall of 0.2% in October 2014. The seasonally adjusted series fell 3.4% in November 2014, following a fall of 0.8% in October 2014. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) rose 4.3% in November 2014, following a rise of 4.5% in October 2014. The seasonally adjusted series rose 2.1% in November 2014, following a rise of 9.2% in October 2014.

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 November 2014, the value of outstanding housing loans financed by Authorised Deposit-taking Institutions (ADIs) was $1,351,392m, up $8,116m (0.6%) from the October 2014 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $4,307m (0.5%) to $887,607m and investment housing loan outstandings financed by ADIs rose $3,809m (0.8%) to $463,785m.

Bank housing loan outstandings rose $7,821m (0.6%) during November 2014 to reach a closing balance of $1,305,460m. Owner occupied housing loan outstandings of banks rose $4,048m (0.5%) to $850,793m and investment housing loan outstandings of banks rose $3,773m (0.8%) to $454,667m.

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