This document was added or updated on 29/04/2015.

SUMMARY OF FINDINGS


DWELLINGS FINANCED

Value of Dwellings Financed

The total value of dwelling commitments excluding alterations and additions (trend) rose 1.0% in December 2014 compared with November 2014, and the seasonally adjusted series rose 4.7% in December 2014.

The total value of owner occupied housing commitments (trend) rose (up $164m, 0.9%) in December 2014. Rises were recorded in commitments for the purchase of established dwellings (up $154m, 1.0%) and commitments for the construction of dwellings (up $16m, 0.9%) while a fall was recorded in commitments for the purchase of new dwellings (down $6m, 0.6%). The seasonally adjusted series for the total value of owner occupied housing commitments rose 3.8% in December 2014.

The total value of investment housing commitments (trend) rose (up $147m, 1.2%) in December 2014 compared with November 2014. Rises were recorded in commitments for the purchase of dwellings by individuals for rent or resale (up $132m, 1.3%) and commitments for the construction of dwellings for rent or resale (up $46m, 5.3%), while a fall was recorded in commitments for the purchase of dwellings by others for rent or resale (down $31m, 3.3%). The seasonally adjusted series for the total value of investment housing commitments rose 6.0% in December 2014.

Further detail can be found in Tables 11, 1 and 2 on the downloads tab of this release and in the PDF.

Number of Owner Occupied Dwellings Financed

The number of owner occupied housing commitments (trend) rose 0.5% in December 2014, following a rise of 0.5% in November 2014. Rises were recorded in commitments for the refinancing of established dwellings (up 208, 1.1%) and commitments for the purchase of established dwellings excluding refinancing (up 75, 0.3%), while a fall was recorded in commitments for the purchase of new dwellings (down 31, 1.1%) and commitments for the construction of dwellings were flat. The seasonally adjusted series for the total number of owner occupied housing commitments rose 2.7% in December 2014.

Further detail can be found in Tables 1 and 2 on the downloads tab of this release and in the PDF.

Number of Owner Occupied Dwellings Financed - State

Between November 2014 and December 2014, the number of owner occupied housing commitments (trend) rose in New South Wales (up 91, 0.6%), Victoria (up 91, 0.6%), Western Australia (up 15, 0.2%), the Australian Capital Territory (up 9, 1.1%) and South Australia (up 2, 0.1%), while falls were recorded in Tasmania (down 17, 2.1%) and the Northern Territory (down 7, 1.8%) and Queensland was flat.

The seasonally adjusted estimates rose in New South Wales (up 989, 6.6%), Victoria (up 214, 1.5%), South Australia (up 146, 4.5%), Western Australia (up 125, 1.6%), Queensland (up 38, 0.4%), Tasmania (up 20, 2.3%), the Australian Capital Territory (up 16, 1.8%) and the Northern Territory (up 7, 1.9%).

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 14.5% in December 2014 from 14.6% in November 2014. Between November 2014 and December 2014, the average loan size for first home buyers rose $4,700 to $332,200. The average loan size for all owner occupied housing commitments rose $6,000 to $342,100 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 December 2014, following a rise of 0.1% in November 2014. The seasonally adjusted series rose 2.5% in December 2014, after a fall of 0.4% in November 2014.

Further detail can be found in Tables 1 and 2 on the downloads tab of this release and in the PDF.

PURPOSE OF FINANCE (OWNER OCCUPATION)

Construction of dwellings

The number of finance commitments for the construction of dwellings for owner occupation (trend) was flat in December 2014, after a rise of 0.1% in November 2014. The seasonally adjusted series rose 0.8% in December 2014, after a fall of 2.7% in November 2014.

Further detail can be found in Tables 1 and 2 on the downloads tab of this release and in the PDF.

Purchase of new dwellings

The number of finance commitments for the purchase of new dwellings for owner occupation (trend) fell 1.1% in December 2014, following a fall of 0.9% in November 2014. The seasonally adjusted series fell 1.8% in December 2014, after a rise of 0.7% in November 2014.

Further detail can be found in Tables 1 and 2 on the downloads tab of this release and in the PDF.

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 0.6% in December 2014, following a rise of 0.6% in November 2014. The seasonally adjusted series rose 3.3% in December 2014, after a fall of 0.1% in November 2014.

Further detail can be found in Tables 1 and 2 on the downloads tab of this release and in the PDF.

Refinancing

The number of refinancing commitments for owner occupied housing (trend) rose 1.1% in December 2014, following a rise of 1.2% in November 2014. The seasonally adjusted series rose 3.1% in December 2014, after a fall of 0.4% in November 2014.

Further detail can be found in Tables 1 and 2 on the downloads tab of this release and in the PDF.

TYPE OF LENDER (OWNER OCCUPATION)

Banks

The number of commitments for owner occupied dwellings financed by banks (trend) rose 0.4% in December 2014, following a rise of 0.4% in November 2014. The seasonally adjusted series rose 1.9% in December 2014, after being flat in November 2014.

Further detail can be found in Tables 3 and 4 on the downloads tab of this release and in the PDF.

Non-banks

The number of commitments for owner occupied dwellings financed by non-banks (trend) rose 1.0% in December 2014, following a rise of 1.0% in November 2014.
The seasonally adjusted series rose 12.1% in December 2014, after a fall of 4.6% in November 2014. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) rose 4.7% in December 2014, following a rise of 5.8% in November 2014. The seasonally adjusted series rose 10.8% in December 2014, following a rise of 2.2% in November 2014.

Further detail can be found in Tables 3 and 4 on the downloads tab of this release and in the PDF.

HOUSING LOAN OUTSTANDINGS

At the end of December 2014, the value of outstanding housing loans financed by Authorised Deposit-taking Institutions (ADIs) was $1,359,718m, up $8,326m (0.6%) from the November 2014 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $4,058m (0.5%) to $891,665m and investment housing loan outstandings financed by ADIs rose $4,268m (0.9%) to $468,053m.

Bank housing loan outstandings rose $9,144m (0.7%) during December 2014 to reach a closing balance of $1,314,604m. Owner occupied housing loan outstandings of banks rose $5,045m (0.6%) to $855,838m and investment housing loan outstandings of banks rose $4,099m (0.9%) to $458,766m.

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