5609.0 - Housing Finance, Australia, January 2018 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 13/03/2018   
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SUMMARY OF FINDINGS


DWELLINGS FINANCED

Value of Dwellings Financed

The total value of dwelling commitments excluding alterations and additions (trend) was unchanged in January 2018 compared with December 2017, while the seasonally adjusted series rose 0.7% in January 2018.

The total value of owner occupied housing commitments (trend) rose (up $29m, 0.1%) in January 2018. Rises were recorded in commitments for the construction of dwellings (up $6m, 0.3%) and commitments for the purchase of established dwellings (up $35m, 0.2%) while a fall was recorded in commitments for the purchase of new dwellings (down $12m, 1.0%). The seasonally adjusted series for the total value of owner occupied housing commitments rose 0.5% in January 2018.

The total value of investment housing commitments (trend) fell (down $30m, 0.3%) in January 2018 compared with December 2017. A fall was recorded in commitments for the purchase of dwellings by individuals for rent or resale (down $128m, 1.3%), while rises were recorded in commitments for the construction of dwellings for rent or resale (up $10m, 0.9%) and commitments for the purchase of dwellings by others for rent or resale (up $87m, 7.7%). The seasonally adjusted series for the total value of investment housing commitments rose 1.1% in January 2018.

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 0.7% in January 2018, following a fall of 0.6% in December 2017. Falls were recorded in commitments for the purchase of new dwellings (down 44, 1.4%) and commitments for the purchase of established dwellings excluding refinancing (down 407, 1.4%), while commitments for the construction of dwellings was flat. The seasonally adjusted series for the total number of owner occupied housing commitments fell 1.1% in January 2018.

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

Graph shows number of owner occupied dwellings financed


Number of Owner Occupied Dwellings Financed - State

Between December 2017 and January 2018, the number of owner occupied housing commitments (trend) fell in New South Wales (down 183, 1.1%), Western Australia (down 85, 1.6%), Victoria (down 71, 0.4%), South Australia (down 22, 0.6%), Tasmania (down 3, 0.3%) and the Northern Territory (down 2, 0.7%), while a rise was recorded in Queensland (up 15, 0.1%) and the Australian Capital Territory was flat.

The seasonally adjusted estimates fell in New South Wales (down 175, 1.0%), Western Australia (down 149, 2.8%), South Australia (down 92, 2.5%), Queensland (down 67, 0.6%), the Australian Capital Territory (down 16, 1.4%) and Tasmania (down 6, 0.6%), while rises were recorded in Victoria (up 111, 0.7%) and the Northern Territory (up 15, 5.3%).

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 18.0% in January 2018 from 17.9% in December 2017. Between December 2017 and January 2018, the average loan size for first home buyers fell $7,300 to $327,400. The average loan size for all owner occupied housing commitments fell $4,300 to $389,000 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 1.2% in January 2018, following a fall of 1.1% in December 2017. The seasonally adjusted series fell 1.8% in January 2018, following a fall of 3.7% in December 2017.

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

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) was unchanged in January 2018, after a fall of 0.1% in December 2017. The seasonally adjusted series rose 3.1% in January 2018, after a fall of 0.9% in December 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) fell 1.4% in January 2018, following a fall of 1.3% in December 2017. The seasonally adjusted series fell 4.7% in January 2018, following a fall of 5.4% in December 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) fell 0.7% in January 2018, following a fall of 0.6% in December 2017. The seasonally adjusted series fell 1.5% in January 2018, following a fall of 2.3% in December 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 January 2018, following a rise of 0.6% in December 2017. The seasonally adjusted series rose 0.3% in January 2018, following a rise of 0.7% in December 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) fell 0.7% in January 2018, following a fall of 0.6% in December 2017. The seasonally adjusted series fell 1.5% in January 2018, following a fall of 2.0% in December 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) fell 0.2% in January 2018, following a fall of 0.1% in December 2017. The seasonally adjusted series rose 2.5% in January 2018, after a fall of 6.4% in December 2017. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) fell 9.0% in January 2018, following a fall of 8.8% in December 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 January 2018, the value of outstanding housing loans financed by Authorised Deposit-taking Institutions (ADIs) was $1,642b, up $5b (0.3%) from the December 2017 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $5b (0.5%) to $1,081b and investment housing loan outstandings financed by ADIs was unchanged at $561b.

Bank housing loan outstandings rose $6b (0.4%) during January 2018 to reach a closing balance of $1,606b. Owner occupied housing loan outstandings of banks rose $6b (0.6%) to $1,053b and investment housing loan outstandings of banks rose $0.4b (0.1%) to $553b .

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