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5609.0 - Housing Finance, Australia, Aug 2014 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 10/10/2014   
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SUMMARY OF FINDINGS


DWELLINGS FINANCED

Value of Dwellings Financed

The total value of dwelling commitments excluding alterations and additions (trend) rose 0.3% in August 2014 compared with July 2014, while the seasonally adjusted series fell 1.2% in August 2014.

The total value of owner occupied housing commitments (trend) fell (down $21m, 0.1%) in August 2014. Falls were recorded in commitments for the purchase of established dwellings (down $36m, 0.3%) and commitments for the construction of dwellings (down $8m, 0.5%), while a rise was recorded in commitments for the purchase of new dwellings (up $23m, 2.3%). The seasonally adjusted series for the total value of owner occupied housing commitments fell 2.0% in August 2014.

The total value of investment housing commitments (trend) rose (up $102m, 0.9%) in August 2014 compared with July 2014. Rises were recorded in commitments for the purchase of dwellings by individuals for rent or resale (up $94m, 1.0%) and commitments for the purchase of dwellings by others for rent or resale (up $11m, 1.0%), while commitments for the construction of dwellings for rent or resale fell (down $4m, 0.7%).The value of investment housing commitments seasonally adjusted fell 0.1% in August 2014.

Further detail can be found in Tables 11, 1 and 2 on the downloads tab 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 0.2% in August 2014, following a fall of 0.1% in July 2014. Falls were recorded in commitments for the purchase of established dwellings excluding refinancing (down 246, 1.0%) and commitments for the construction of dwellings (down 13, 0.2%), while rises were recorded in commitments for the refinancing of established dwellings (up 114, 0.6%) and commitments for the purchase of new dwellings (up 49, 1.7%). The seasonally adjusted estimate for the total number of owner occupied housing commitments fell 0.9% in August 2014.

Further detail can be found in Tables 1 and 2 on the downloads tab and in the .pdf.

Graph: Number of Owner Occupied Dwellings Financed


Number of Owner Occupied Dwellings Financed - State

Between July 2014 and August 2014, the number of owner occupied housing commitments (trend) fell in New South Wales (down 25, 0.2%), Western Australia (down 23, 0.3%), the Australian Capital Territory (down 2, 0.2%), and Tasmania (down 1, 0.1%), while rises were recorded in Victoria (up 35, 0.3%), Queensland (up 26, 0.3%), the Northern Territory (up 4, 1.1%) and South Australia (up 3, 0.1%). The seasonally adjusted estimates fell in Western Australia (down 198, 2.5%) and New South Wales (down 192, 1.3%), whiles rises were recorded in Queensland (up 230, 2.3%), Victoria (up 63, 0.5%), South Australia (up 26, 0.8%), the Australian Capital Territory (up 5, 0.6%), the Northern Territory (up 3, 0.8%) and Tasmania (up 3, 0.3%),

Further detail can be found in Tables 5 and 6 on the downloads tab 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 11.8% in August 2014 from 12.2% in July 2014. Between July 2014 and August 2014, the average loan size for first home buyers fell $7,000 to $300,400. The average loan size for all owner occupied housing commitments fell $9,100 to $318,400 for the same period.

Further detail can be found in Table 9a on the downloads tab 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 0.6% in August 2014, following a fall of 0.6% in July 2014. The seasonally adjusted series fell 1.9% in August 2014, following a fall of 0.7% in July 2014.

Further detail can be found in Tables 1 and 2 on the downloads tab and in the .pdf.

Graph: 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 0.2% in August 2014, following a fall of 0.2% in July 2014. The seasonally adjusted series fell 0.8% in August 2014, following a fall of 1.4% in July 2014.

Further detail can be found in Tables 1 and 2 on the downloads tab and in the .pdf.

Graph: Construction of dwellings


Purchase of new dwellings

The number of finance commitments for the purchase of new dwellings for owner occupation (trend) rose 1.7% in August 2014, following a rise of 1.7% in July 2014. The seasonally adjusted series rose 2.5% in August 2014, following a rise of 0.5% in July 2014.

Further detail can be found in Tables 1 and 2 on the downloads tab and in the .pdf.

Graph: Purchase of new dwellings


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 0.3% in August 2014, following a fall of 0.2% in July 2014. The seasonally adjusted series fell 1.1% in August 2014, after a rise of 0.6% in July 2014.

Further detail can be found in Tables 1 and 2 on the downloads tab and in the .pdf.

Graph: Purchase of established dwellings including refinancing


Refinancing

The number of refinancing commitments for owner occupied housing (trend) rose 0.6% in August 2014, following a rise of 1.0% in July 2014. The seasonally adjusted series rose 1.1% in August 2014, following a rise of 2.4% in July 2014.

Further detail can be found in Tables 1 and 2 on the downloads tab and in the .pdf.

Graph: Refinancing


TYPE OF LENDER (OWNER OCCUPATION)

Banks

The number of commitments for owner occupied dwellings financed by banks (trend) fell 0.2% in August 2014, following a fall of 0.2% in July 2014. The seasonally adjusted series fell 0.9% in August 2014, after a rise of 0.6% in July 2014.

Further detail can be found in Tables 3 and 4 on the downloads tab and in the .pdf.

Graph: Banks


Non-banks

The number of commitments for owner occupied dwellings financed by non-banks (trend) rose 0.5% in August 2014, following a rise of 0.8% in July 2014. The seasonally adjusted series fell 0.2% in August 2014, following a fall of 2.7% in July 2014. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) fell 0.5% in August 2014, following a fall of 0.6% in July 2014. The seasonally adjusted series fell 5.7% in August 2014, after a rise of 1.0% in July 2014.

Further detail can be found in Tables 3 and 4 on the downloads tab and in the .pdf.

Graph: Non-banks


HOUSING LOAN OUTSTANDINGS

At the end of August 2014, the value of outstanding housing loans financed by Authorised Deposit-taking Institutions (ADIs) was $1,326,785m, up $7,740m (0.6%) from the July 2014 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $4,237m (0.5%) to $875,116m and investment housing loan outstandings financed by ADIs rose $3,503m (0.8%) to $451,669m.

Bank housing loan outstandings rose $7,434m (0.6%) during August 2014 to reach a closing balance of $1,279,829m. Owner occupied housing loan outstandings of banks rose $4,012m (0.5%) to $837,263m and investment housing loan outstandings of banks rose $3,422m (0.8%) to $442,566m.

Further detail can be found in Table 12 on the downloads tab and in the .pdf.


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Commonwealth of Australia 2014

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