5609.0 - Housing Finance, Australia, October 2017 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 08/12/2017   
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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 0.3% in October 2017 compared with September 2017, while the seasonally adjusted series rose 0.6% in October 2017.

The total value of owner occupied housing commitments (trend) fell (down $31m, 0.1%) in October 2017. Falls were recorded in commitments for the purchase of established dwellings (down $37m, 0.2%) and commitments for the construction of dwellings (down $8m, 0.4%) while a rise was recorded in commitments for the purchase of new dwellings (up $15m, 1.2%). The seasonally adjusted series for the total value of owner occupied housing commitments was flat in October 2017.

The total value of investment housing commitments (trend) fell (down $61m, 0.5%) in October 2017 compared with September 2017. Falls were recorded in commitments for the purchase of dwellings by others for rent or resale (down $46m, 4.8%) and commitments for the purchase of dwellings by individuals for rent or resale (down $28m, 0.3%), while a rise was recorded in commitments for the construction of dwellings for rent or resale (up $13m, 1.2%). The seasonally adjusted series for the total value of investment housing commitments rose 1.6% in October 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) rose 0.3% in October 2017, following a rise of 0.4% in September 2017. Rises were recorded in commitments for the refinancing of established dwellings (up 82, 0.5%), commitments for the purchase of established dwellings excluding refinancing (up 77, 0.3%) and commitments for the purchase of new dwellings (up 32, 1.0%), while a fall was recorded in commitments for the construction of dwellings (down 32, 0.5%). The seasonally adjusted series for the total number of owner occupied housing commitments fell 0.6% in October 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 September 2017 and October 2017, the number of owner occupied housing commitments (trend) rose in Victoria (up 214, 1.3%), the Australian Capital Territory (up 7, 0.6%), Tasmania (up 3, 0.3%), South Australia (up 3, 0.1%) and the Northern Territory (up 2, 0.8%), while falls were recorded in Queensland (down 38, 0.4%) and Western Australia (down 22, 0.4%) with New South Wales being flat.

The seasonally adjusted estimates fell in New South Wales (down 204, 1.2%), Western Australia (down 37, 0.7%), the Australian Capital Territory (down 8, 0.6%) and South Australia (down 6, 0.2%), while rises were recorded in Queensland (up 57, 0.5%), Tasmania (up 54, 5.5%), Victoria (up 29, 0.2%) and the Northern Territory (up 5, 1.5%).

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 rose to 17.6% in October 2017 from 17.4% in September 2017. Between September 2017 and October 2017, the average loan size for first home buyers rose $3,700 to $321,100. The average loan size for all owner occupied housing commitments rose $2,900 to $374,600 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 October 2017, following a rise of 0.4% in September 2017. The seasonally adjusted series fell 0.8% in October 2017, following a fall of 2.9% in September 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 0.5% in October 2017, following a fall of 0.2% in September 2017. The seasonally adjusted series fell 1.4% in October 2017, following a fall of 2.1% in September 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) rose 1.0% in October 2017, following a rise of 1.2% in September 2017. The seasonally adjusted series fell 1.6% in October 2017, after a rise of 1.3% in September 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) rose 0.3% in October 2017, following a rise of 0.4% in September 2017. The seasonally adjusted series fell 0.4% in October 2017, following a fall of 2.8% in September 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 October 2017, following a rise of 0.4% in September 2017. The seasonally adjusted series fell 0.1% in October 2017, following a fall of 1.4% in September 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) rose 0.2% in October 2017, following a rise of 0.3% in September 2017. The seasonally adjusted series fell 1.0% in October 2017, following a fall of 2.6% in September 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 1.2% in October 2017, following a rise of 1.7% in September 2017. The seasonally adjusted series rose 3.8% in October 2017, after a fall of 0.7% in September 2017. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) rose 5.1% in October 2017, following a rise of 5.7% in September 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 October 2017, the value of outstanding housing loans financed by Authorised Deposit-taking Institutions (ADIs) was $1,623b, up $8b (0.5%) from the September 2017 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $7b (0.7%) to $1,063b and investment housing loan outstandings financed by ADIs rose $0.8b (0.1%) to $560b.

Bank housing loan outstandings rose $8b (0.5%) during October 2017 to reach a closing balance of $1,586b. Owner occupied housing loan outstandings of banks rose $7b (0.7%) to $1,035b and investment housing loan outstandings of banks rose $0.8b (0.1%) to $551b.

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