5609.0 - Housing Finance, Australia, March 2017 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 15/05/2017   
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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 0.1% in March 2017 compared with February 2017, while the seasonally adjusted series rose 0.9% in March 2017.

The total value of owner occupied housing commitments (trend) rose (up $27m, 0.1%) in March 2017. Rises were recorded in commitments for the purchase of new dwellings (up $2m, 0.2%) and commitments for the purchase of established dwellings (up $24m, 0.1%), while commitments for the construction of dwellings was flat. The seasonally adjusted series for the total value of owner occupied housing commitments rose 0.9% in March 2017.

The total value of investment housing commitments (trend) fell (down $45m, 0.3%) in March 2017 compared with February 2017. Falls was recorded in commitments for the purchase of dwellings by individuals for rent or resale (down $53m, 0.5%), while rises were recorded in commitments for the purchase of dwellings by others for rent or resale (up $3m, 0.3%) and commitments for the construction of dwellings for rent or resale (up $5m, 0.5%). The seasonally adjusted series for the total value of investment housing commitments rose 0.8% in March 2017.

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 0.1% in March 2017, after a rise of 0.1% in February 2017. A fall was recorded in commitments for the refinancing of established dwellings (down 210, 1.2%), while rises were recorded in commitments for the construction of dwellings (up 20, 0.4%) and commitments for the purchase of new dwellings (up 4, 0.2%). The seasonally adjusted series for the total number of owner occupied housing commitments fell 0.5% in March 2017.

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 February 2017 and March 2017, the number of owner occupied housing commitments (trend) fell in Queensland (down 100, 0.9%) and Western Australia (down 55, 1.0%), while rises were recorded in New South Wales (up 45, 0.3%), Tasmania (up 6, 0.5%) and the Northern Territory (up 5, 1.8%) with Victoria being flat.

The seasonally adjusted estimates fell in Victoria (down 237, 1.5%), Western Australia (down 215, 3.7%), Queensland (down 210, 2.0%) and South Australia (down 145, 3.7%), while rises were recorded in New South Wales (up 57, 0.3%), the Australian Capital Territory (up 56, 5.5%), Tasmania (up 46, 4.5%) and the Northern Territory (up 23, 7.3%).

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 13.6% in March 2017 from 13.3% in February 2017. The number of first home buyer commitments rose by 20.5% to 7,946 in March from 6,596 in February; the number of non-first home buyer commitments also rose. Between February 2017 and March 2017, the average loan size for first home buyers rose $7,400 to $316,300. The average loan size for all owner occupied housing commitments rose $14,000 to $367,700 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 0.5% in March 2017, following a rise of 0.7% in February 2017. The seasonally adjusted series rose 0.4% in March 2017, following a rise of 0.7% in February 2017.

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) rose 0.4% in March 2017, following a rise of 0.3% in February 2017. The seasonally adjusted series rose 1.8% in March 2017, following a rise of 1.7% in February 2017.

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) rose 0.2% in March 2017, following a rise of 0.5% in February 2017. The seasonally adjusted series rose 9.6% in March 2017, after a fall of 8.7% in February 2017.

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 0.1% in March 2017, after a rise of 0.1% in February 2017. The seasonally adjusted series fell 1.3% in March 2017, following a fall of 0.7% in February 2017.

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) fell 1.2% in March 2017, following a fall of 1.2% in February 2017. The seasonally adjusted series fell 2.4% in March 2017, following a fall of 3.8% in February 2017.

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) was flat in March 2017, after a rise of 0.2% in February 2017. The seasonally adjusted series rose 0.5% in March 2017, after a fall of 0.3% in February 2017.

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 1.3% in March 2017, following a fall of 1.0% in February 2017. The seasonally adjusted series fell 12.7% in March 2017, following a fall of 6.8% in February 2017. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) rose 2.2% in March 2017, after a fall of 1.2% in February 2017.

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 March 2017, the value of outstanding housing loans financed by Authorised Deposit-taking Institutions (ADIs) was $1,580b, up $7b (0.4%) from the February 2017 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $4b (0.4%) to $1,027b and investment housing loan outstandings financed by ADIs rose $2.2b (0.4%) to $554b .

Bank housing loan outstandings rose $7b (0.5%) during March 2017 to reach a closing balance of $1,543b. Owner occupied housing loan outstandings of banks rose $5b (0.5%) to $997b and investment housing loan outstandings of banks rose $2.4b (0.4%) to $545b .

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