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5609.0 - Housing Finance, Australia, Sep 2014 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 10/11/2014   
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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 0.7% in September 2014 compared with August 2014, while the seasonally adjusted series rose 2.3% in September 2014.

The total value of owner occupied housing commitments (trend) rose (up $9m, 0.1%) in September 2014. A rise was recorded in commitments for the purchase of new dwellings (up $12m, 1.2%) while falls were recorded in commitments for the construction of dwellings (down $2m, 0.1%) and commitments for the purchase of established dwellings (down $1m, 0.0%). The seasonally adjusted series for the total value of owner occupied housing commitments rose 1.4% in September 2014.

The total value of investment housing commitments (trend) rose (up $198m, 1.7%) in September 2014 compared with August 2014. Rises were recorded in commitments for the purchase of dwellings by individuals for rent or resale (up $122m, 1.3%), commitments for the construction of dwellings for rent or resale (up $62m, 9.3%) and commitments for the purchase of dwellings by others for rent or resale (up $15m, 1.4%). The seasonally adjusted series for the total value of owner occupied housing commitments rose 3.7% in September 2014.

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 0.2% in September 2014, following a fall of 0.2% in August 2014. Falls were recorded in commitments for the purchase of established dwellings excluding refinancing (down 189, 0.8%), while rises were recorded in commitments for the refinancing of established dwellings (up 52, 0.3%), commitments for the purchase of new dwellings (up 35, 1.2%) and commitments for the construction of dwellings (up 16, 0.2%). The seasonally adjusted series for the total number of owner occupied housing commitments fell 0.7% in September 2014.

Further detail can be found in Tables 1 and 2 on the downloads tab of this release, and in the PDF.

Graph: Number of Owner Occupied Dwellings Financed


Number of Owner Occupied Dwellings Financed - State

Between August 2014 and September 2014, the number of owner occupied housing commitments (trend) fell in Victoria (down 38, 0.3%), New South Wales (down 26, 0.2%), South Australia (down 13, 0.4%) and Western Australia (down 7, 0.1%) while rises were recorded in Queensland (up 41, 0.4%), the Northern Territory (up 13, 3.2%), Tasmania (up 6, 0.6%) and the Australian Capital Territory (up 5, 0.6%). The seasonally adjusted estimates fell in Victoria (down 410, 3.0%), South Australia (down 70, 2.1%), Queensland (down 58, 0.6%) and New South Wales (down 12, 0.1%) while rises were recorded in Western Australia (up 63, 0.8%), Tasmania (up 51, 5.8%), the Northern Territory (up 37, 9.6%) and the Australian Capital Territory (up 30, 3.7%).

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 12.0% in September 2014 from 11.8% in August 2014. Between August 2014 and September 2014, the average loan size for first home buyers rose $9,800 to $310,200. The average loan size for all owner occupied housing commitments rose $8,100 to $326,500 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) fell 0.4% in September 2014, following a fall of 0.5% in August 2014. The seasonally adjusted series rose 0.5% in September 2014, after a fall of 1.9% in August 2014.

Further detail can be found in Tables 1 and 2 on the downloads tab of this release, 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) rose 0.2% in September 2014, following a rise of 0.3% in August 2014. The seasonally adjusted series rose 3.1% in September 2014, after a fall of 0.7% in August 2014.

Further detail can be found in Tables 1 and 2 on the downloads tab of this release, 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 1.2% in September 2014, following a rise of 1.6% in August 2014. The seasonally adjusted series was flat in September 2014, after a rise of 2.4% in August 2014.

Further detail can be found in Tables 1 and 2 on the downloads tab of this release, 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 September 2014, following a fall of 0.4% in August 2014. The seasonally adjusted series fell 1.3% in September 2014, following a fall of 1.2% in August 2014.

Further detail can be found in Tables 1 and 2 on the downloads tab of this release, and in the PDF.

Graph: Purchase of established dwellings including refinancing


Refinancing

The number of refinancing commitments for owner occupied housing (trend) rose 0.3% in September 2014, following a rise of 0.3% in August 2014. The seasonally adjusted series fell 2.9% in September 2014, after a rise of 1.0% in August 2014.

Further detail can be found in Tables 1 and 2 on the downloads tab of this release, 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 September 2014, following a fall of 0.3% in August 2014. The seasonally adjusted series fell 1.1% in September 2014, following a fall of 1.0% in August 2014.

Further detail can be found in Tables 3 and 4 on the downloads tab of this release, and in the PDF.

Graph: Banks


Non-banks

The number of commitments for owner occupied dwellings financed by non-banks (trend) rose 0.7% in September 2014, following a rise of 0.9% in August 2014. The seasonally adjusted series rose 3.6% in September 2014, after a fall of 0.1% in August 2014. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) rose 0.9% in September 2014, following a rise of 0.9% in August 2014. The seasonally adjusted series rose 12.0% in September 2014, after a fall of 6.0% in August 2014.

Further detail can be found in Tables 3 and 4 on the downloads tab of this release, and in the PDF.

Graph: Non-banks


HOUSING LOAN OUTSTANDINGS

At the end of September 2014, the value of outstanding housing loans financed by Authorised Deposit-taking Institutions (ADIs) was $1,334,380m, up $7,595m (0.6%) from the August 2014 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $3,813m (0.4%) to $878,929m and investment housing loan outstandings financed by ADIs rose $3,782m (0.8%) to $455,451m.

Bank housing loan outstandings rose $7,435m (0.6%) during September 2014 to reach a closing balance of $1,287,264m. Owner occupied housing loan outstandings of banks rose $3,692m (0.4%) to $840,955m and investment housing loan outstandings of banks rose $3,743m (0.8%) to $446,309m.

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


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Commonwealth of Australia 2014

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