5609.0 - Housing Finance, Australia, December 2017 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 09/02/2018   
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SUMMARY OF FINDINGS


DWELLINGS FINANCED

Value of Dwellings Financed

The total value of dwelling commitments excluding alterations and additions (trend) fell 0.1% in December 2017 compared with November 2017 and the seasonally adjusted series fell 1.6% in December 2017.

The total value of owner occupied housing commitments (trend) rose (up $29m, 0.1%) in December 2017. A rise was recorded in commitments for the purchase of established dwellings (up $49m, 0.3%) while falls were recorded in commitments for the construction of dwellings (down $16m, 0.8%) and commitments for the purchase of new dwellings (down $4m, 0.3%). The seasonally adjusted series for the total value of owner occupied housing commitments fell 1.0% in December 2017.

The total value of investment housing commitments (trend) fell (down $63m, 0.5%) in December 2017 compared with November 2017. A fall was recorded in commitments for the purchase of dwellings by individuals for rent or resale (down $102m, 1.0%), while rises were recorded in commitments for the construction of dwellings for rent or resale (up $32m, 2.6%) and commitments for the purchase of dwellings by others for rent or resale (up $7m, 0.7%). The seasonally adjusted series for the total value of investment housing commitments fell 2.6% in December 2017.

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 0.3% in December 2017, following a fall of 0.2% in November 2017. Falls were recorded in commitments for the purchase of established dwellings excluding refinancing (down 213, 0.7%), commitments for the construction of dwellings (down 48, 0.8%), and commitments for the purchase of new dwellings (down 4, 0.1%). The seasonally adjusted series for the total number of owner occupied housing commitments fell 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 dwellings financed


Number of Owner Occupied Dwellings Financed - State

Between November 2017 and December 2017, the number of owner occupied housing commitments (trend) fell in New South Wales (down 106, 0.6%), Western Australia (down 80, 1.5%), Victoria (down 13, 0.1%), the Northern Territory (down 6, 2.0%) and Tasmania (down 1, 0.1%), while rises were recorded in Queensland (up 10, 0.1%), the Australian Capital Territory (up 7, 0.6%) and South Australia was flat.

The seasonally adjusted estimates fell in New South Wales (down 438, 2.5%), Victoria (down 423, 2.6%), the Australian Capital Territory (down 90, 7.1%), Queensland (down 74, 0.7%), South Australia (down 41, 1.1%) and Tasmania (down 23, 2.3%), while rises were recorded in Western Australia (up 51, 1.0%) and the Northern Territory (up 1, 0.5%).

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 December 2017 from 18.0% in November 2017. Between November 2017 and December 2017, the average loan size for first home buyers rose $7,600 to $334,700. The average loan size for all owner occupied housing commitments rose $4,300 to $393,200 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 0.7% in December 2017, following a fall of 0.5% in November 2017. The seasonally adjusted series fell 3.4% in December 2017, after a rise of 1.5% in November 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 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 0.8% in December 2017, following a fall of 0.8% in November 2017. The seasonally adjusted series fell 1.1% in December 2017, after a rise of 1.8% in November 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 0.1% in December 2017, after a rise of 0.1% in November 2017. The seasonally adjusted series fell 3.8% in December 2017, after a rise of 3.2% in November 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 0.3% in December 2017, following a fall of 0.2% in November 2017. The seasonally adjusted series fell 2.3% in December 2017, after a rise of 1.4% in November 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 December 2017, following a rise of 0.5% in November 2017. The seasonally adjusted series rose 0.4% in December 2017, following a rise of 1.8% in November 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 0.3% in December 2017, following a fall of 0.3% in November 2017. The seasonally adjusted series fell 1.9% in December 2017, after a rise of 1.6% in November 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) rose 0.1% in December 2017, following a rise of 0.5% in November 2017. The seasonally adjusted series fell 5.9% in December 2017, after a rise of 1.2% in November 2017. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) fell 7.7% in December 2017, following a fall of 5.9% in November 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 December 2017, the value of outstanding housing loans financed by Authorised Deposit-taking Institutions (ADIs) was $1,637b, up $8b (0.5%) from the November 2017 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $7b (0.6%) to $1,076b and investment housing loan outstandings financed by ADIs rose $1.7b (0.3%) to $562b.

Bank housing loan outstandings rose $8b (0.5%) during December 2017 to reach a closing balance of $1,600b. Owner occupied housing loan outstandings of banks rose $6b (0.6%) to $1,047b and investment housing loan outstandings of banks rose $1.7b (0.3%) to $553b.

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