5609.0 - Housing Finance, Australia, February 2018 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 12/04/2018   
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SUMMARY OF FINDINGS


DWELLINGS FINANCED

Value of Dwellings Financed

The total value of dwelling commitments excluding alterations and additions (trend) rose 0.2% in February 2018 compared with January 2018, and the seasonally adjusted series rose 1.0% in February 2018.

The total value of owner occupied housing commitments (trend) rose (up $88m, 0.4%) in February 2018. Rises were recorded in commitments for the purchase of established dwellings (up $85m, 0.5%) and commitments for the construction of dwellings (up $5m, 0.2%) while a fall was recorded in the commitments for the purchase of new dwellings (down $1m, 0.1%). The seasonally adjusted series for the total value of owner occupied housing commitments rose 1.3% in February 2018.

The total value of investment housing commitments (trend) fell (down $24m, 0.2%) in February 2018 compared with January 2018. Falls were recorded in commitments for the purchase of dwellings by individuals for rent or resale (down $61m, 0.6%) and commitments for the construction of dwellings for rent or resale (down $11m, 0.9%), while a rise was recorded in commitments for the purchase of dwellings by others for rent or resale (up $47m, 4.0%). The seasonally adjusted series for the total value of investment housing commitments rose 0.5% in February 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 0.6% in February 2018, following a fall of 0.7% in January 2018. Falls were recorded in commitments for the purchase of established dwellings excluding refinancing (down 330, 1.2%), commitments for the purchase of new dwellings (down 31, 1.0%) and commitments for the construction of dwellings (down 7, 0.1%). The seasonally adjusted series for the total number of owner occupied housing commitments fell 0.2% in February 2018.

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 January 2018 and February 2018, the number of owner occupied housing commitments (trend) fell in New South Wales (down 81, 0.5%), Queensland (down 77, 0.7%), Western Australia (down 70, 1.4%), Victoria (down 66, 0.4%), the Australian Capital Territory (down 15, 1.3%) and South Australia (down 7, 0.2%), while a rise was recorded in Tasmania (up 2, 0.2%) with Northern Territory being flat.

The seasonally adjusted estimates fell in Queensland (down 377, 3.6%), Western Australia (down 24, 0.5%), the Australian Capital Territory (down 17, 1.4%), Victoria (down 12, 0.1%) and the Northern Territory (down 1, 0.2%), while rises were recorded in New South Wales (up 249, 1.5%), South Australia (up 165, 4.7%) and Tasmania (up 23, 2.2%).

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 17.9% in February 2018 from 18.0% in January 2018. Between January 2018 and February 2018, the average loan size for first home buyers rose $300 to $327,700. The average loan size for all owner occupied housing commitments fell $6,800 to $382,200 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 1.0% in February 2018, following a fall of 1.2% in January 2018. The seasonally adjusted series fell 0.1% in February 2018, following a fall of 1.6% 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: 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 0.1% in February 2018, following a fall of 0.4% in January 2018. The seasonally adjusted series fell 7.1% in February 2018, after a rise of 4.6% 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: 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 1.0% in February 2018, following a fall of 1.1% in January 2018. The seasonally adjusted series rose 6.6% in February 2018, after a fall of 5.7% 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: 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 0.6% in February 2018, following a fall of 0.7% in January 2018. The seasonally adjusted series rose 0.4% in February 2018, after a fall of 1.4% 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: Graph shows number of owner occupied established dwellings financed, including refinancing


Refinancing

The number of refinancing commitments for owner occupied housing (trend) rose 0.2% in February 2018, following a rise of 0.4% in January 2018. The seasonally adjusted series fell 0.4% in February 2018, after a rise of 0.3% 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: 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 0.6% in February 2018, following a fall of 0.7% in January 2018. The seasonally adjusted series was flat in February 2018, after a fall of 1.3% in January 2018.

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 0.8% in February 2018, following a fall of 0.6% in January 2018. The seasonally adjusted series fell 1.7% in February 2018, after a rise of 2.6% in January 2018. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) fell 10.7% in February 2018, following a fall of 10.6% in January 2018.

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 February 2018, the value of outstanding housing loans financed by Authorised Deposit-taking Institutions (ADIs) was $1,651b, up $7b (0.5%) from the January 2018 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $7b (0.6%) to $1,089b and investment housing loan outstandings financed by ADIs rose $0.6b (0.1%) to $562b.

Bank housing loan outstandings rose $8b (0.5%) during February 2018 to reach a closing balance of $1,614b. Owner occupied housing loan outstandings of banks rose $7b (0.7%) to $1,060b and investment housing loan outstandings of banks rose $0.7b (0.1%) to $554b.

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