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5609.0 - Housing Finance, Australia, Oct 2014 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 10/12/2014   
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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 0.8% in October 2014 compared with September 2014, while the seasonally adjusted series rose 1.0% in October 2014.

The total value of owner occupied housing commitments (trend) rose (up $26m, 0.2%) in October 2014. Rises were recorded in commitments for the construction of dwellings (up $18m, 1.0%) and commitments for the purchase of established dwellings (up $10m, 0.1%) while falls were recorded in commitments for the purchase of new dwellings (down $2m, 0.2%). The seasonally adjusted series for the total value of owner occupied housing commitments rose 1.0% in October 2014.

The total value of investment housing commitments (trend) rose (up $207m, 1.8%) in October 2014 compared with September 2014. Rises were recorded in commitments for the purchase of dwellings by individuals for rent or resale (up $141m, 1.4%), commitments for the construction of dwellings for rent or resale (up $43m, 5.7%) and commitments for the purchase of dwellings by others for rent or resale (up $23m, 2.1%). The seasonally adjusted series for the total value of investment housing commitments rose 1.0% in October 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 October 2014, following a fall of 0.2% in September 2014. Falls were recorded in commitments for the purchase of established dwellings excluding refinancing (down 223, 0.9%), while rises were recorded in commitments for the refinancing of established dwellings (up 78, 0.4%), commitments for the construction of dwellings (up 48, 0.8%) and commitments for the purchase of new dwellings (up 4, 0.1%). The seasonally adjusted series for the total number of owner occupied housing commitments rose 0.3% in October 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 September 2014 and October 2014, the number of owner occupied housing commitments (trend) fell in New South Wales (down 32, 0.2%), Victoria (down 32, 0.2%), South Australia (down 15, 0.5%), Western Australia (down 7, 0.1%) and Tasmania (down 1, 0.2%) while rises were recorded in the Australian Capital Territory (up 17, 2.1%), the Northern Territory (up 9, 2.1%) and Queensland (up 1, 0.0%).

The seasonally adjusted estimates rose in Victoria (up 255, 1.9%), Western Australia (up 75, 1.0%) and the Australian Capital Territory (up 29, 3.4%) while falls were recorded in Queensland (down 104, 1.0%), Tasmania (down 86, 9.2%), the Northern Territory (down 12, 2.8%), New South Wales (down 9, 0.1%) and South Australia (down 6, 0.2%).

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 11.6% in October 2014 from 12.0% in September 2014. Between September 2014 and October 2014, the average loan size for first home buyers rose $4,300 to $314,500. The average loan size for all owner occupied housing commitments rose $5,300 to $331,800 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 0.5% in October 2014, following a fall of 0.6% in September 2014. The seasonally adjusted series fell 1.4% in October 2014, after a rise of 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 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 0.8% in October 2014, following a rise of 0.7% in September 2014. The seasonally adjusted series rose 1.5% in October 2014, following a rise of 3.2% 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: Construction of dwellings


Purchase of new dwellings

The number of finance commitments for the purchase of new dwellings for owner occupation (trend) rose 0.1% in October 2014, following a rise of 0.4% in September 2014. The seasonally adjusted series fell 4.0% in October 2014, following a fall of 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: 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 October 2014, following a fall of 0.3% in September 2014. The seasonally adjusted series rose 0.4% in October 2014, after a fall of 1.0% 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: Purchase of established dwellings including refinancing


Refinancing

The number of refinancing commitments for owner occupied housing (trend) rose 0.4% in October 2014, following a rise of 0.6% in September 2014. The seasonally adjusted series rose 3.6% in October 2014, after a fall of 2.7% 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: Refinancing


TYPE OF LENDER (OWNER OCCUPATION)

Banks

The number of commitments for owner occupied dwellings financed by banks (trend) fell 0.2% in October 2014, following a fall of 0.3% in September 2014. The seasonally adjusted series rose 0.3% in October 2014, after a fall of 0.8% in September 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 0.5% in October 2014, following a rise of 0.8% in September 2014. The seasonally adjusted series rose 0.7% in October 2014, following a rise of 3.4% in September 2014. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) rose 3.5% in October 2014, following a rise of 3.4% in September 2014. The seasonally adjusted series rose 11.5% in October 2014, following a rise of 12.2% in September 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 October 2014, the value of outstanding housing loans financed by Authorised Deposit-taking Institutions (ADIs) was $1,343,273m, up $8,880m (0.7%) from the September 2014 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $4,357m (0.5%) to $883,297m and investment housing loan outstandings financed by ADIs rose $4,523m (1.0%) to $459,976m .

Bank housing loan outstandings rose $10,375m (0.8%) during October 2014 to reach a closing balance of $1,297,639m. Owner occupied housing loan outstandings of banks rose $5,790m (0.7%) to $846,745m and investment housing loan outstandings of banks rose $4,585m (1.0%) to $450,894m .

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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