5609.0 - Housing Finance, Australia, November 2016 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 17/01/2017   
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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 0.6% in November 2016 compared with October 2016, while the seasonally adjusted series rose 2.2% in November 2016.

The total value of owner occupied housing commitments (trend) was flat in November 2016. Rises were recorded in commitments for the purchase of new dwellings (up $9m, 0.9%), and commitments for the construction of dwellings (up $7m, 0.4%), while a fall was recorded in commitments for the purchase of established dwellings (down $26m, 0.2%). The seasonally adjusted series for the total value of owner occupied housing commitments rose 0.4% in November 2016.

The total value of investment housing commitments (trend) rose (up $210m, 1.7%) in November 2016 compared with October 2016. Rises were recorded in commitments for the purchase of dwellings by individuals for rent or resale (up $203m, 1.9%) and commitments for the purchase of dwellings by others for rent or resale (up $4m, 0.4%) and commitments for the construction of dwellings for rent or resale (up $3m, 0.3%). The seasonally adjusted series for the total value of investment housing commitments rose 4.9% in November 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) fell 0.1% in November 2016, following a fall of 0.4% in October 2016. A fall was recorded in commitments for the refinancing of established dwellings (down 162, 0.8%), while rises were recorded in commitments for the purchase of new dwellings (up 20, 0.7%) and commitments for the construction of dwellings (up 11, 0.2%). The seasonally adjusted series for the total number of owner occupied housing commitments rose 0.9% 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


Number of Owner Occupied Dwellings Financed - State

Between October 2016 and November 2016, the number of owner occupied housing commitments (trend) fell in New South Wales (down 67, 0.4%), Western Australia (down 41, 0.7%), South Australia (down 25, 0.7%), the Australian Capital Territory (down 8, 0.8%) and the Northern Territory (down 5, 1.6%), while rises were recorded in Victoria (up 14, 0.1%), Queensland (up 10, 0.1%) and Tasmania (up 8, 0.8%).

The seasonally adjusted estimates rose in Queensland (up 258, 2.4%), New South Wales (up 245, 1.5%), Victoria (up 124, 0.8%), the Northern Territory (up 8, 2.7%) and the Australian Capital Territory (up 2, 0.2%), while falls were recorded in Tasmania (down 10, 1.0%), Western Australia (down 41, 0.7%) and South Australia (down 52, 1.3%).

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 rose to 13.8% in November 2016 from 13.7% in October 2016. The number of first home buyer commitments rose by 13.4% to 8,281 in November from 7,302 in October; the number of non-first home buyer commitments also rose.

Between October 2016 and November 2016, the average loan size for first home buyers fell $-3,800 to $323,900. The average loan size for all owner occupied housing commitments rose $3,600 to $376,600 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 0.2% in November 2016, after being flat in October 2016. The seasonally adjusted series rose 2.1% in November 2016, following a rise of 1.2% in October 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 November 2016, after being flat in October 2016. The seasonally adjusted series rose 2.3% in November 2016, after a fall of 0.3% in October 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 0.7% in November 2016, following a rise of 0.6% in October 2016. The seasonally adjusted series rose 3.3% in November 2016, following a rise of 0.8% in October 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) fell 0.2% in November 2016, following a fall of 0.5% in October 2016. The seasonally adjusted series rose 0.6% in November 2016, after a fall of 0.7% in October 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 0.8% in November 2016, following a fall of 1.1% in October 2016. The seasonally adjusted series fell 1.3% in November 2016, following a fall of 3.7% in October 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) fell 0.1% in November 2016, following a fall of 0.3% in October 2016. The seasonally adjusted series rose 1.1% in November 2016, after a fall of 0.3% in October 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 1.1% in November 2016, following a fall of 1.2% in October 2016. The seasonally adjusted series fell 1.5% in November 2016, following a fall of 4.3% in October 2016. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) fell 7.1% in November 2016, following a fall of 7.0% in October 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 November 2016, the value of outstanding housing loans financed by Authorised Deposit-taking Institutions (ADIs) was $1,550b, up $10b(0.6%) from the October 2016 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $7b (0.7%) to $1,006b and investment housing loan outstandings financed by ADIs rose $3b (0.6%) to $544b.

Bank housing loan outstandings rose $10b(0.7%) during November 2016 to reach a closing balance of $1,513b. Owner occupied housing loan outstandings of banks rose $7b (0.7%) to $977b 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.