5609.0 - Housing Finance, Australia, June 2018 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 08/08/2018   
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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 0.7% in June 2018 compared with May 2018, and the seasonally adjusted series fell 1.6% in June 2018.

The total value of owner occupied housing commitments (trend) fell (down $42m, 0.2%) in June 2018. Falls were recorded in commitments for the purchase of established dwellings (down $39m, 0.2%) and commitments for the purchase of new dwellings (down $3m, 0.3%) while commitments for the construction of dwellings was flat. The seasonally adjusted series for the total value of owner occupied housing commitments fell 1.0% in June 2018.

The total value of investment housing commitments (trend) fell (down $187m, 1.8%) in June 2018 compared with May 2018. Falls were recorded in commitments for the purchase of dwellings by individuals for rent or resale (down $155m, 1.8%) and commitments for the purchase of dwellings by others for rent or resale (down $46m, 5.1%), while a rise was recorded in commitments for the construction of dwellings for rent or resale (up $14m, 1.3%). The seasonally adjusted series for the total value of investment housing commitments fell 2.7% in June 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 0.5% in June 2018, following a fall of 0.7% in May 2018. Falls were recorded in commitments for the purchase of established dwellings (down 182, 0.4%), commitments for the purchase of new dwellings (down 31, 1.1%) and commitments for the construction of dwellings (down 23, 0.4%). The seasonally adjusted series for the total number of owner occupied housing commitments fell 1.1% in June 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 May 2018 and June 2018, the number of owner occupied housing commitments (trend) fell in Western Australia (down 78, 1.6%), New South Wales (down 69, 0.4%), Victoria (down 62, 0.4%), the Australian Capital Territory (down 19, 1.8%), South Australia (down 13, 0.4%) and the Northern Territory (down 2, 0.9%), while rises were recorded in Queensland (up 9, 0.1%) and Tasmania (up 1, 0.1%).

The seasonally adjusted estimates fell in New South Wales (down 290, 1.8%), Western Australia (down 222, 4.6%), Victoria (down 123, 0.8%), South Australia (down 63, 1.8%), Tasmania (down 21, 1.9%) and the Australian Capital Territory (down 14, 1.3%), while rises were recorded in Queensland (up 212, 2.1%) and the Northern Territory (up 4, 1.7%).

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 rose to 18.1% in June 2018 from 17.6% in May 2018. Between May 2018 and June 2018, the average loan size for first home buyers rose $5,200 to $349,800. The average loan size for all owner occupied housing commitments fell $3,500 to $396,600 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) fell 0.2% in June 2018, following a fall of 0.5% in May 2018. The seasonally adjusted series fell 0.5% in June 2018, after a rise of 1.3% in May 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 0.4% in June 2018, following a fall of 0.8% in May 2018. The seasonally adjusted series rose 2.5% in June 2018, following a rise of 1.9% in May 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 1.1% in June 2018, following a fall of 1.6% in May 2018. The seasonally adjusted series fell 4.9% in June 2018, after a flat movement in May 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 0.4% in June 2018, following a fall of 0.7% in May 2018. The seasonally adjusted series fell 1.3% in June 2018, after a rise of 0.9% in May 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) fell 1.0% in June 2018, following a fall of 1.2% in May 2018. The seasonally adjusted series fell 2.4% in June 2018, after a rise of 0.3% in May 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 June 2018, following a fall of 0.9% in May 2018. The seasonally adjusted series fell 1.2% in June 2018, after a rise of 0.7% in May 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) rose 1.1% in June 2018, following a rise of 0.9% in May 2018. The seasonally adjusted series fell 0.7% in June 2018, after a rise of 4.3% in May 2018. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) rose 2.8% in June 2018, following a rise of 3.1% in May 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 June 2018, the value of outstanding housing loans financed by Authorised Deposit-taking Institutions (ADIs) was $1,677b, up $9b (0.5%) from the May 2018 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $8b (0.8%) to $1,111b and investment housing loan outstandings financed by ADIs rose $0.7b (0.1%) to $566b.

Bank housing loan outstandings rose $9b (0.5%) during June 2018 to reach a closing balance of $1,640b. Owner occupied housing loan outstandings of banks rose $8b (0.8%) to $1,082b and investment housing loan outstandings of banks rose $0.7b (0.1%) to $557b.

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