SUMMARY OF FINDINGS


DWELLINGS FINANCED

Value of Dwellings Financed

The total value of dwelling commitments excluding alterations and additions (trend) rose 0.8% in March 2015 compared with February 2015 and the seasonally adjusted series rose 3.5% in March 2015.

The total value of owner occupied housing commitments (trend) rose (up $157m, 0.8%) in March 2015. Rises were recorded in commitments for the purchase of established dwellings (up $171m, 1.1%) and commitments for the purchase of new dwellings (up $7m, 0.7%), while a fall was recorded in commitments for the construction of dwellings (down $21m, 1.1%). The seasonally adjusted series for the total value of owner occupied housing commitments rose 1.6% in March 2015.

The total value of investment housing commitments (trend) rose (up $96m, 0.8%) in March 2015 compared with February 2015. Rises were recorded in commitments for the purchase of dwellings by individuals for rent or resale (up $58m, 0.5%), commitments for the purchase of dwellings by others for rent or resale (up $31m, 2.8%) and commitments for the construction of dwellings for rent or resale (up $8m, 0.9%). The seasonally adjusted series for the total value of investment housing commitments rose 6.4% in March 2015.

Further detail can be found in Tables 11, 1 and 2 on the downloads tab of this release and in the PDF.

Number of Owner Occupied Dwellings Financed

The number of owner occupied housing commitments (trend) rose 0.4% in March 2015, following a rise of 0.5% in February 2015. Rises were recorded in commitments for the refinancing of established dwellings (up 302, 1.5%) and commitments for the purchase of established dwellings excluding refinancing (up 13, 0.1%), while falls were recorded in commitments for the construction of dwellings (down 81, 1.4%) and commitments for the purchase of new dwellings (down 2, 0.1%). The seasonally adjusted series for the total number of owner occupied housing commitments rose 1.6% in March 2015.

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

Number of Owner Occupied Dwellings Financed - State

Between February 2015 and March 2015, the number of owner occupied housing commitments (trend) rose in New South Wales (up 191, 1.2%), Victoria (up 116, 0.8%) and South Australia (up 1, 0.0%), while falls were recorded in Western Australia (down 50, 0.7%), the Northern Territory (down 6, 1.8%), the Australian Capital Territory (down 4, 0.5%), Queensland (down 2, 0.0%) and Tasmania (down 1, 0.1%).

The seasonally adjusted estimates rose in New South Wales (up 179, 1.1%), Victoria (up 156, 1.1%), Queensland (up 136, 1.4%), South Australia (up 80, 2.4%) and Western Australia (up 78, 1.0%), while falls were recorded in Tasmania (down 40, 4.6%), the Australian Capital Territory (down 15, 1.8%) and the Northern Territory (down 2, 0.7%).

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 fell to 14.7% in March 2015 from 15.1% in February 2015. Between February 2015 and March 2015, the average loan size for first home buyers rose $5,200 to $326,300. The average loan size for all owner occupied housing commitments rose $5,400 to $342,500 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 0.2% in March 2015, following a fall of 0.2% in February 2015. The seasonally adjusted series rose 0.3% in March 2015, after a fall of 0.1% in February 2015.

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

PURPOSE OF FINANCE (OWNER OCCUPATION)

Construction of dwellings

The number of finance commitments for the construction of dwellings for owner occupation (trend) fell 1.4% in March 2015, following a fall of 1.4% in February 2015. The seasonally adjusted series fell 1.8% in March 2015, after a rise of 0.3% in February 2015.

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

Purchase of new dwellings

The number of finance commitments for the purchase of new dwellings for owner occupation (trend) fell 0.1% in March 2015, following a fall of 0.5% in February 2015. The seasonally adjusted series rose 2.9% in March 2015, following a rise of 5.9% in February 2015.

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

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 March 2015, following a rise of 0.8% in February 2015. The seasonally adjusted series rose 2.0% in March 2015, following a rise of 1.0% in February 2015.

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

Refinancing

The number of refinancing commitments for owner occupied housing (trend) rose 1.5% in March 2015, following a rise of 1.7% in February 2015. The seasonally adjusted series rose 4.0% in March 2015, following a rise of 3.3% in February 2015.

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

TYPE OF LENDER (OWNER OCCUPATION)

Banks

The number of commitments for owner occupied dwellings financed by banks (trend) rose 0.4% in March 2015, following a rise of 0.4% in February 2015. The seasonally adjusted series rose 1.5% in March 2015, following a rise of 1.3% in February 2015.

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

Non-banks

The number of commitments for owner occupied dwellings financed by non-banks (trend) rose 1.1% in March 2015, following a rise of 1.3% in February 2015. The seasonally adjusted series rose 3.0% in March 2015, after a fall of 0.4% in February 2015. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) fell 2.4% in March 2015, following a fall of 1.4% in February 2015. The seasonally adjusted series rose 12.3% in March 2015, after a fall of 11.4% in February 2015.

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

HOUSING LOAN OUTSTANDINGS

At the end of March 2015, the value of outstanding housing loans financed by Authorised Deposit-taking Institutions (ADIs) was $1,383,707m, up $8,075m (0.6%) from the February 2015 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $3,874m (0.4%) to $904,594m and investment housing loan outstandings financed by ADIs rose $4,201m (0.9%) to $479,113m.

Bank housing loan outstandings rose $7,882m (0.6%) during March 2015 to reach a closing balance of $1,336,567m. Owner occupied housing loan outstandings of banks rose $3,971m (0.5%) to $867,262m and investment housing loan outstandings of banks rose $3,911m (0.8%) to $469,305m.

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