MAY KEY FIGURES

	Trend estimates		Seasonally adjusted estimates
	May 2018	Apr 2018 to May 2018	May 2018	Apr 2018 to May 2018
Value of dwelling commitments(a)(b)
	$m	% change	$m	% change
Total dwellings	31 832	-0.7	31 906	0.5
Owner occupied housing	21 089	-0.2	21 168	0.7
Investment housing - fixed loans(c)	10 743	-1.9	10 738	-0.1
Number of dwelling commitments(a)(b)
	no.	% change	no.	% change
Owner occupied housing	52 548	-0.7	53 037	1.1
Construction of dwellings	5 614	-1.5	5 684	1.2
Purchase of new dwellings	2 883	-0.9	2 880	0.1
Purchase of established dwellings	44 051	-0.6	44 473	1.2
(a) Includes refinancing (see Glossary).
(b) Excludes alterations and additions.
(c) Excludes revolving credit.

Value of dwelling commitments, Total dwellings

No. of dwelling commitments, Owner occupied housing

MAY KEY POINTS


VALUE OF DWELLING COMMITMENTS

May 2018 compared with April 2018:

• The trend estimate for the total value of dwelling finance commitments excluding alterations and additions fell 0.7%. Owner occupied housing commitments fell 0.2% and investment housing commitments fell 1.9%.
• In seasonally adjusted terms, the total value of dwelling finance commitments excluding alterations and additions rose 0.5%.

NUMBER OF DWELLING COMMITMENTS

May 2018 compared with April 2018:

• In trend terms, the number of commitments for owner occupied housing finance fell 0.7% in May 2018.
• In trend terms, the number of commitments for the construction of dwellings fell 1.5%, the number of commitments for the purchase of new dwellings fell 0.9% and the number of commitments for the purchase of established dwellings fell 0.6%.
• In original terms, the number of first home buyer commitments as a percentage of total owner occupied housing finance commitments was unchanged at 17.6% in May 2018.

NOTES

FORTHCOMING ISSUES

ISSUE	Release Date
June 2018	8 August 2018
July 2018	7 September 2018
August 2018	12 October 2018
September 2018	9 November 2018
October 2018	10 December 2018

IMPORTANT QUALITY NOTICE: FIRST HOME BUYERS NUMBERS

The number of first home buyer commitments as a percentage of total owner occupied housing finance commitments recorded strong growth from July 2017 to November 2017. The increase has been driven mainly by changes to first home buyer incentive programs in New South Wales and Victoria. The ABS is working with APRA and the financial institutions to establish the size of the increase in first home buyer lending and improve the quality of first home buyer statistics more broadly. These numbers may be revised and users should take care when interpreting ABS first home buyer statistics.


FORTHCOMING CHANGES

Upcoming release of the new, streamlined monthly finance publication, Lending to Households and Businesses, Australia (5601.0)

The ABS is combining Housing Finance, Australia (5609.0) and Lending Finance, Australia (5671.0) into a single, simpler publication called Lending to Households and Businesses, Australia (5601.0). An information paper which outlines the forthcoming changes in more detail and format of the new publication, as well as historical data in the new table structures, will be released no less than one month prior to release of the new publication. Some of the data currently published in the two publications will no longer be published in the new consolidated publication, however, some existing outputs will be further disaggregated. New analytical series will also be added with the inclusion of seasonally adjusted and trend estimates for more data items.


REVISIONS

In this issue, revisions have been made to the original series as a result of improved reporting of survey and administrative data. These revisions have affected the following series:

• Owner occupied housing for the period April 2018.
• Investment housing for the period April 2018.

PRIVACY

The ABS Privacy Policy outlines how the ABS will handle any personal information that you provide to the ABS.


INQUIRIES

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