5609.0 - Housing Finance, Australia, July 2017 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 08/09/2017   
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SUMMARY OF FINDINGS


DWELLINGS FINANCED

Value of Dwellings Financed

The total value of dwelling commitments excluding alterations and additions (trend) rose 0.1% in July 2017 compared with June 2017, while the seasonally adjusted series fell 0.9% in July 2017.

The total value of owner occupied housing commitments (trend) rose (up $153m, 0.7%) in July 2017. Rises were recorded in commitments for the purchase of new dwellings (up $27m, 2.3%), commitments for the construction of dwellings (up $54m, 2.6%) and commitments for the purchase of established dwellings (up $72m, 0.4%). The seasonally adjusted series for the total value of owner occupied housing commitments rose 0.9% in July 2017.

The total value of investment housing commitments (trend) fell (down $121m, -1.0%) in July 2017 compared with June 2017. Falls were recorded in commitments for the purchase of dwellings by individuals for rent or resale (down $102m, -1.0%), commitments for the construction of dwellings for rent or resale (down $16m, -1.5%) and commitments for the purchase of dwellings by others for rent or resale (down $3m, -0.3%). The seasonally adjusted series for the total value of investment housing commitments fell 3.9% in July 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 0.6% in July 2017, following a rise of 0.5% in June 2017. Rises were recorded in commitments for the purchase of new dwellings (up 59, 2.0%), commitments for the construction of dwellings (up 125, 2.0%) and commitments for the purchase of established dwellings excluding refinancing (up 301, 1.0%). The seasonally adjusted series for the total number of owner occupied housing commitments rose 2.9% in July 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 June 2017 and July 2017, the number of owner occupied housing commitments (trend) rose in Victoria (up 152, 1.0%), New South Wales (up 96, 0.6%), Queensland (up 42, 0.4%), the Australian Capital Territory (up 11, 1.0%), and Tasmania (up 2, 0.2%). Falls were recorded in South Australia (down 52, 1.5%) and the Northern Territory (down 3, 0.8%), with Western Australia being flat.

The seasonally adjusted estimates rose in Victoria (up 722, 4.7%), New South Wales (up 721, 4.3%), Queensland (up 61, 0.6%), Western Australia (up 47, 0.8%), and Tasmania (up 41, 4.1%), while falls were recorded in the Australian Capital Territory (down 27, 2.4%), South Australia (down 16, 0.4%) and the Northern Territory (down 7, 2.3%).

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 16.6% in July 2017 from 14.9% in June 2017. Between June 2017 and July 2017, the average loan size for first home buyers rose $4,000 to $321,800. The average loan size for all owner occupied housing commitments fell $5,000 to $370,500 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 1.3% in July 2017, following a rise of 1.2% in June 2017. The seasonally adjusted series rose 4.5% in July 2017, following a rise of 2.6% in June 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 2.0% in July 2017, following a rise of 2.3% in June 2017. The seasonally adjusted series rose 3.1% in July 2017, following a rise of 3.1% in June 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 2.0% in July 2017, following a rise of 2.1% in June 2017. The seasonally adjusted series rose 1.9% in July 2017, following a rise of 3.3% in June 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 0.3% in July 2017, following a rise of 0.2% in June 2017. The seasonally adjusted series rose 2.9% in July 2017, following a rise of 0.8% in June 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 1.0% in July 2017, following a fall of 1.2% in June 2017. The seasonally adjusted series fell 0.7% in July 2017, following a fall of 1.9% in June 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 July 2017, following a rise of 0.5% in June 2017. The seasonally adjusted series rose 3.2% in July 2017, following a rise of 0.9% in June 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 0.7% in July 2017, following a rise of 0.8% in June 2017. The seasonally adjusted series fell 1.1% in July 2017, after a rise of 3.9% in June 2017. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) rose 2.0% in July 2017, following a rise of 2.4% in June 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 July 2017, the value of outstanding housing loans financed by Authorised Deposit-taking Institutions (ADIs) was $1,613b, up $6b (0.4%) from the June 2017 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $5b (0.5%) to $1,052b and investment housing loan outstandings financed by ADIs rose $0.3b (0.1%) to $561b.

Bank housing loan outstandings rose $6b (0.4%) during July 2017 to reach a closing balance of $1,575b. Owner occupied housing loan outstandings of banks rose $5b (0.5%) to $1,023b and investment housing loan outstandings of banks rose $0.3b (0.1%) to $553b.

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