5609.0 - Housing Finance, Australia, December 2016 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 10/02/2017   
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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 December 2016 compared with November 2016, and the seasonally adjusted series rose 0.4% in December 2016.

The total value of owner occupied housing commitments (trend) rose (up $46m, 0.2%) in December 2016. Rises were recorded in commitments for the purchase of new dwellings (up $16m, 1.5%), commitments for the construction of dwellings (up $9m, 0.5%), and commitments for the purchase of established dwellings (up $21m, 0.1%). The seasonally adjusted series for the total value of owner occupied housing commitments rose 1.3% in December 2016.

The total value of investment housing commitments (trend) rose (up $218m, 1.7%) in December 2016 compared with November 2016. Rises were recorded in commitments for the purchase of dwellings by individuals for rent or resale (up $192m, 1.8%), commitments for the purchase of dwellings by others for rent or resale (up $15m, 1.4%), and commitments for the construction of dwellings for rent or resale (up $11m, 1.2%). The seasonally adjusted series for the total value of investment housing commitments fell 1.0% in December 2016.

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) rose 0.1% in December 2016, following a rise of 0.1% in November 2016. Rises were recorded in commitments for the purchase of established dwellings excluding refinancing (up 302, 1.1%), commitments for the purchase of new dwellings (up 38, 1.4%), and commitments for the construction of dwellings (up 14, 0.2%). The seasonally adjusted series for the total number of owner occupied housing commitments rose 0.4% in December 2016.

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 November 2016 and December 2016, the number of owner occupied housing commitments (trend) rose in Victoria (up 74, 0.5%), New South Wales (up 46, 0.3%), the Australian Capital Territory (up 16, 1.6%), Queensland (up 13, 0.1%) and Tasmania (up 2, 0.1%), while falls were recorded in the Northern Territory (down 3, 1.0%), South Australia (down 34, 0.9%) and Western Australia (down 60, 1.0%).

The seasonally adjusted estimates rose in New South Wales (up 249, 1.5%), Victoria (up 114, 0.8%), the Australian Capital Territory (up 63, 6.3%) and the Northern Territory (up 1, 0.5%), while falls were recorded in Tasmania (down 29, 2.7%), South Australia (down 72, 1.9%), Queensland (down 146, 1.3%) and Western Australia (down 163, 2.7%).

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 remained at 13.8% in December 2016. The number of first home buyer commitments fell by 7.1% to 7,690 in December from 8,281 in November; the number of non-first home buyer commitments also fell.

Between November 2016 and December 2016, the average loan size for first home buyers fell $4,600 to $319,300. The average loan size for all owner occupied housing commitments fell $800 to $375,800 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) rose 1.0% in December 2016, following a rise of 1.0% in November 2016. The seasonally adjusted series rose 2.4% in December 2016, following a rise of 2.7% in November 2016.

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) rose 0.2% in December 2016, following a rise of 0.3% in November 2016. The seasonally adjusted series fell 0.3% in December 2016, after a rise of 2.4% in November 2016.

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) rose 1.4% in December 2016, following a rise of 1.5% in November 2016. The seasonally adjusted series rose 3.2% in December 2016, following a rise of 3.8% in November 2016.

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) rose 0.1% in December 2016, after being flat in November 2016. The seasonally adjusted series rose 0.3% in December 2016, after a rise of 1.0% in November 2016.

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) fell 1.5% in December 2016, following a fall of 1.6% in November 2016. The seasonally adjusted series fell 3.5% in December 2016, following a fall of 1.4% in November 2016.

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) rose 0.2% in December 2016, following a rise of 0.1% in November 2016. The seasonally adjusted series was flat in December 2016, after a rise of 1.4% in November 2016.

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 0.3% in December 2016, following a fall of 0.4% in November 2016. The seasonally adjusted series rose 5.6% in December 2016, following a fall of 0.4% in November 2016. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) fell 10.1% in December 2016, following a fall of 8.9% in November 2016.

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 December 2016, the value of outstanding housing loans financed by Authorised Deposit-taking Institutions (ADIs) was $1,561b, up $10b (0.7%) from the November 2016 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $7b (0.7%) to $1,016b, and investment housing loan outstandings financed by ADIs rose $3b (0.6%) to $545b.

Bank housing loan outstandings rose $10b (0.7%) during December 2016 to reach a closing balance of $1,523b. Owner occupied housing loan outstandings of banks rose $7b (0.7%) to $987b and investment housing loan outstandings of banks rose $3b (0.6%) to $536b.

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