5609.0 - Housing Finance, Australia, November 2017 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 17/01/2018   
   Page tools: Print Print Page Print all pages in this productPrint All RSS Feed RSS Bookmark and Share Search this Product

SUMMARY OF FINDINGS


DWELLINGS FINANCED

Value of Dwellings Financed

The total value of dwelling commitments excluding alterations and additions (trend) was flat in November 2017 compared with October 2017, while the seasonally adjusted series rose 2.3% in November 2017.

The total value of owner occupied housing commitments (trend) rose (up $14m, 0.1%) in November 2017. Rises were recorded in commitments for the purchase of new dwellings (up $3m, 0.2%) and commitments for the purchase of established dwellings (up $29m, 0.2%) while a fall was recorded in commitments for the construction of dwellings (down $18m, 0.9%). The seasonally adjusted series for the total value of owner occupied housing commitments rose 2.7% in November 2017.

The total value of investment housing commitments (trend) fell (down $31m, 0.3%) in November 2017 compared with October 2017. Falls were recorded in commitments for the purchase of dwellings by individuals for rent or resale (down $75m, 0.8%) and commitments for the purchase of dwellings by others for rent or resale (down $22m, 2.3%), while a rise was recorded in commitments for the construction of dwellings for rent or resale (up $66m, 5.4%). The seasonally adjusted series for the total value of investment housing commitments rose 1.5% in November 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 0.1% in November 2017, following a rise of 0.4% in October 2017. Rises were recorded in commitments for the refinancing of established dwellings (up 51, 0.3%), commitments for the purchase of established dwellings excluding refinancing (up 32, 0.1%) and commitments for the purchase of new dwellings (up 16, 0.5%), while a fall was recorded in commitments for the construction of dwellings (down 42, 0.7%). The seasonally adjusted series for the total number of owner occupied housing commitments rose 2.1% in November 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 October 2017 and November 2017, the number of owner occupied housing commitments (trend) rose in Victoria (up 103, 0.6%), the Australian Capital Territory (up 15, 1.2%), South Australia (up 10, 0.3%) and Queensland (up 6, 0.1%), while falls were recorded in Western Australia (down 77, 1.4%), New South Wales (down 36, 0.2%), the Northern Territory (down 3, 0.9%) and Tasmania (down 1, 0.1%).

The seasonally adjusted estimates rose in New South Wales (up 343, 2.0%), Queensland (up 325, 3.1%), the Australian Capital Territory (up 100, 8.6%), Victoria (up 91, 0.5%), South Australia (up 56, 1.5%) and Tasmania (up 7, 0.7%), while falls were recorded in Western Australia (down 191, 3.5%) and the Northern Territory (down 25, 8.5%).

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 18.0% in November 2017 from 17.6% in October 2017. Between October 2017 and November 2017, the average loan size for first home buyers rose $3,300 to $327,100. The average loan size for all owner occupied housing commitments rose $11,000 to $388,900 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) was flat in November 2017, after a rise of 0.3% in October 2017. The seasonally adjusted series rose 2.4% in November 2017, after a fall of 0.7% in October 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) fell 0.7% in November 2017, following a fall of 0.5% in October 2017. The seasonally adjusted series rose 2.0% in November 2017, after a fall of 1.6% in October 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 0.5% in November 2017, following a rise of 1.0% in October 2017. The seasonally adjusted series rose 2.6% in November 2017, after a fall of 2.1% in October 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 0.2% in November 2017, following a rise of 0.4% in October 2017. The seasonally adjusted series rose 2.1% in November 2017, after a fall of 0.3% in October 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 0.3% in November 2017, following a rise of 0.5% in October 2017. The seasonally adjusted series rose 1.5% in November 2017, after a fall of 0.3% in October 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 November 2017, after a rise of 0.2% in October 2017. The seasonally adjusted series rose 2.2% in November 2017, after a fall of 0.9% in October 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 November 2017, following a rise of 1.6% in October 2017. The seasonally adjusted series rose 1.3% in November 2017, following a rise of 3.6% in October 2017. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) fell 0.2% in November 2017, after a rise of 0.7% in October 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 November 2017, the value of outstanding housing loans financed by Authorised Deposit-taking Institutions (ADIs) was $1,629b, up $6b (0.4%) from the October 2017 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $6b (0.5%) to $1,069b and investment housing loan outstandings financed by ADIs rose $0.4b (0.1%) to $560b.

Bank housing loan outstandings rose $6b (0.4%) during November 2017 to reach a closing balance of $1,592b. Owner occupied housing loan outstandings of banks rose $6b (0.6%) to $1,041b and investment housing loan outstandings of banks rose $0.5b (0.1%) to $551b.

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