5609.0 - Housing Finance, Australia, September 2017 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 09/11/2017   
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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 September 2017 compared with August 2017, and the seasonally adjusted series fell 3.6% in September 2017.

The total value of owner occupied housing commitments (trend) rose (up $44m, 0.2%) in September 2017. Rises were recorded in commitments for the purchase of established dwellings (up $20m, 0.1%), commitments for the purchase of new dwellings (up $16m, 1.3%) and commitments for the construction of dwellings (up $8m, 0.4%). The seasonally adjusted series for the total value of owner occupied housing commitments fell 2.1% in September 2017.

The total value of investment housing commitments (trend) fell (down $63m, -0.5%) in September 2017 compared with August 2017. A rise was recorded in commitments for the purchase of dwellings by individuals for rent or resale (up $14m, 0.1%), while falls were recorded in commitments for the purchase of dwellings by others for rent or resale (down $60m, -6.0%) and commitments for the construction of dwellings for rent or resale (down $17m, -1.6%). The seasonally adjusted series for the total value of investment housing commitments fell 6.2% in September 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) rose 0.7% in September 2017, following a rise of 0.8% in August 2017. Rises were recorded in commitments for the purchase of established dwellings excluding refinancing (up 233, 0.8%), commitments for the purchase of new dwellings (up 45, 1.4%) and commitments for the construction of dwellings (up 25, 0.4%). The seasonally adjusted series for the total number of owner occupied housing commitments fell 2.3% in September 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 August 2017 and September 2017, the number of owner occupied housing commitments (trend) rose in Victoria (up 256, 1.6%), New South Wales (up 136, 0.8%), Western Australia (up 15, 0.3%), the Australian Capital Territory (up 12, 1.0%) and South Australia (up 8, 0.2%), while falls were recorded in Tasmania (down 5, -0.5%) and the Northern Territory (down 3, -0.8%) with Queensland being flat.

The seasonally adjusted estimates rose in Victoria (up 335, 2.1%) and the Northern Territory (up 5, 1.8%), while falls were recorded in New South Wales (down 706, -3.9%), Western Australia (down 307, -5.2%), Queensland (down 286, -2.7%), South Australia (down 53, -1.4%), Tasmania (down 49, -4.8%) and the Australian Capital Territory (down 33, -2.8%).

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 17.4% in September 2017 from 17.2% in August 2017. The number of first home buyer commitments decreased 6.3% to 9,627 in September; the number of non-first home buyer commitments decreased 8.0%. Between August 2017 and September 2017, the average loan size for first home buyers fell $6,200 to $315,200. The average loan size for all owner occupied housing commitments rose $2,100 to $371,700 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 0.8% in September 2017, following a rise of 1.0% in August 2017. The seasonally adjusted series fell 2.9% in September 2017, after a rise of 0.7% in August 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 September 2017, following a rise of 0.8% in August 2017. The seasonally adjusted series fell 2.6% in September 2017, following a fall of 2.3% in August 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 1.4% in September 2017, following a rise of 2.2% in August 2017. The seasonally adjusted series rose 1.8% in September 2017, following a rise of 1.7% in August 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) rose 0.7% in September 2017, following a rise of 0.8% in August 2017. The seasonally adjusted series fell 2.6% in September 2017, after a rise of 2.0% in August 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) rose 0.5% in September 2017, following a rise of 0.4% in August 2017. The seasonally adjusted series fell 1.0% in September 2017, after a rise of 3.4% in August 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) rose 0.6% in September 2017, following a rise of 0.8% in August 2017. The seasonally adjusted series fell 2.5% in September 2017, after a rise of 1.3% in August 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) rose 1.4% in September 2017, following a rise of 1.7% in August 2017. The seasonally adjusted series fell 0.7% in September 2017, after a rise of 4.3% in August 2017. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) rose 1.9% in September 2017, following a rise of 2.3% in August 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 September 2017, the value of outstanding housing loans financed by Authorised Deposit-taking Institutions (ADIs) was $1,616b, up $5b (0.3%) from the August 2017 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $4b (0.4%) to $1,057b and investment housing loan outstandings financed by ADIs rose $0.9b (0.2%) to $559b.

Bank housing loan outstandings rose $5b (0.3%) during September 2017 to reach a closing balance of $1,579b. Owner occupied housing loan outstandings of banks rose $5b (0.5%) to $1,029b whilst investment housing loan outstandings of banks was flat at $550b.

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