5609.0 - Housing Finance, Australia, April 2017 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 09/06/2017   
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SUMMARY OF FINDINGS


DWELLINGS FINANCED

Value of Dwellings Financed

The total value of dwelling commitments excluding alterations and additions (trend) fell 0.4% in April 2017 compared with March 2017, and the seasonally adjusted series fell 1.6% in April 2017.

The total value of owner occupied housing commitments (trend) fell (down $15m, 0.1%) in April 2017. Falls were recorded in commitments for the purchase of established dwellings (down $27m, 0.2%) while rises were recorded in commitments for the construction of dwellings (up $6m, 0.3%) and commitments for the purchase of new dwellings (up $5m, 0.5%). The seasonally adjusted series for the total value of owner occupied housing commitments fell 1.1% in April 2017.

The total value of investment housing commitments (trend) fell (down $133m, 1.0%) in April 2017 compared with March 2017. Falls were recorded in commitments for the purchase of dwellings by others for rent or resale (down $25m, 2.1%), and commitments for the purchase of dwellings by individuals for rent or resale (down $115m, 1.1%), while a rise was recorded in commitments for the construction of dwellings for rent and resale (up $6m, 0.5%). The seasonally adjusted series for the total value of investment housing commitments fell 2.3% in April 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 0.5% in April 2017, following a fall of 0.5% in March 2017. Falls were recorded in commitments for the purchase of new dwellings (down 3, 0.1%) and commitments for the refinancing of established dwellings (down 302, 1.7%) while rises were recorded in commitments for the construction of dwellings (up 35, 0.6%) with commitments for the purchase of established dwellings excluding refinancing being flat. The seasonally adjusted series for the total number of owner occupied housing commitments fell 1.9% in April 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 March 2017 and April 2017, the number of owner occupied housing commitments (trend) fell in Queensland (down 101, 1.0%), Western Australia (down 56, 1.0%), Victoria (down 56, 0.4%), New South Wales (down 14, 0.1%), the Australian Capital Territory (down 6, 0.5%), South Australia (down 6, 0.2%) and Tasmania (down 3, 0.4%), while a rise was recorded in the Northern Territory (up 6, 1.8%).

The seasonally adjusted estimates fell in Victoria (down 215, 1.4%), New South Wales (down 153, 0.9%), Tasmania (down 105, 9.8%), South Australia (down 43, 1.1%), Queensland (down 36, 0.3%), the Australian Capital Territory (down 30, 2.8%) and the Northern Territory (down 20, 6.0%), while a rise was recorded in Western Australia (up 31, 0.6%).

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 13.9% in April 2017 from 13.5% in March 2017. The number of first home buyer commitments decreased by 17.5% to 6,547 in April from 7,939 in March; the number of non-first home buyer commitments also decreased. Between March 2017 and April 2017, the average loan size for first home buyers rose $300 to $317,100. The average loan size for all owner occupied housing commitments rose $3,700 to $371,700 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 0.1% in April 2017, following a rise of 0.2% in March 2017. The seasonally adjusted series fell 0.7% in April 2017, after a rise of 0.1% in March 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) rose 0.6% in April 2017, following a rise of 0.6% in March 2017. The seasonally adjusted series rose 2.1% in April 2017, following a rise of 1.4% in March 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 April 2017, following a fall of 0.1% in March 2017. The seasonally adjusted series fell 3.0% in April 2017, after a rise of 9.2% in March 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 0.7% in April 2017, following a fall of 0.7% in March 2017. The seasonally adjusted series fell 2.3% in April 2017, following a fall of 1.7% in March 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) fell 1.7% in April 2017, following a fall of 2.1% in March 2017. The seasonally adjusted series fell 4.5% in April 2017, following a fall of 3.0% in March 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 0.4% in April 2017, following a fall of 0.4% in March 2017. The seasonally adjusted series fell 2.4% in April 2017, after being flat in March 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) fell 1.7% in April 2017, following a fall of 1.7% in March 2017. The seasonally adjusted series rose 4.8% in April 2017, after a fall of 11.7% in March 2017. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) rose 3.0% in April 2017, following a rise of 2.8% in March 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 April 2017, the value of outstanding housing loans financed by Authorised Deposit-taking Institutions (ADIs) was $1,588b, up $8b (0.5%) from the March 2017 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $6b (0.6%) to $1,032b and investment housing loan outstandings financed by ADIs rose $2.2b (0.4%) to $556b.

Bank housing loan outstandings rose $8b (0.5%) during April 2017 to reach a closing balance of $1,551b. Owner occupied housing loan outstandings of banks rose $6b (0.6%) to $1,003b and investment housing loan outstandings of banks rose $2.1b (0.4%) to $547b.

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