5609.0 - Housing Finance, Australia, May 2015 Quality Declaration 
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 10/07/2015   
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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 0.7% in May 2015 compared with April 2015, while the seasonally adjusted series fell 4.4% in May 2015.

The total value of owner occupied housing commitments (trend) rose (up $83m, 0.4%) in May 2015. Rises were recorded in commitments for the purchase of established dwellings (up $79m, 0.5%) and commitments for the purchase of new dwellings (up $15m, 1.5%) while a fall was recorded in commitments for the construction of dwellings (down $10m, 0.6%). The seasonally adjusted series for the total value of owner occupied housing commitments fell 5.3% in May 2015.

The total value of investment housing commitments (trend) rose (up $138m, 1.1%) in May 2015 compared with April 2015. Rises were recorded in commitments for the purchase of dwellings by individuals for rent or resale (up $102m, 0.9%), commitments for the purchase of dwellings by others for rent or resale (up $29m, 2.4%) and commitments for the construction of dwellings for rent or resale (up $7m, 0.8%). The seasonally adjusted series for the total value of investment housing commitments fell 3.2% in May 2015.

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 0.2% in May 2015, after it being flat in April 2015. Falls were recorded in commitments for the construction of dwellings (down 34, 0.6%) and commitments for the purchase of established dwellings excluding refinancing (down 296, 1.2%), while rises were recorded in commitments for the refinancing of established dwellings (up 203, 1.1%) and commitments for the purchase of new dwellings (up 30, 1.1%). The seasonally adjusted series for the total number of owner occupied housing commitments fell 6.1% in May 2015.

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 April 2015 and May 2015, the number of owner occupied housing commitments (trend) fell in New South Wales (down 49, 0.3%), Western Australia (down 42, 0.6%), Victoria (down 32, 0.2%) and Tasmania (down 9, 1.1%), while rises were recorded in the Australian Capital Territory (up 6, 0.6%), South Australia (up 4, 0.1%), the Northern Territory (up 3, 0.9%). Queensland was flat.

The seasonally adjusted estimates fell in New South Wales (down 953, 5.9%), Victoria (down 949, 6.4%), Western Australia (down 352, 5.2%), Queensland (down 326, 3.2%), South Australia (down 237, 7.0%), Tasmania (down 43, 5.1%), the Australian Capital Territory (down 38, 4.2%) and the Northern Territory (down 32, 8.8%).

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 15.9% in May 2015 from 15.8% in April 2015. Between April 2015 and May 2015, the average loan size for first home buyers fell $800 to $340,400. The average loan size for all owner occupied housing commitments rose $200 to $357,500 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 0.9% in May 2015, following a fall of 0.9% in April 2015. The seasonally adjusted series fell 8.2% in May 2015, after a rise of 1.2% in April 2015.

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 0.6% in May 2015, following a fall of 0.8% in April 2015. The seasonally adjusted series fell 8.3% in May 2015, after a rise of 5.5% in April 2015.

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 1.1% in May 2015, following a rise of 1.3% in April 2015. The seasonally adjusted series rose 0.3% in May 2015, following a rise of 1.7% in April 2015.

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 May 2015, after being flat in April 2015. The seasonally adjusted series fell 6.2% in May 2015, after being flat in April 2015.

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 1.1% in May 2015, following a rise of 1.5% in April 2015. The seasonally adjusted series fell 2.3% in May 2015, following a fall of 0.2% in April 2015.

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 0.2% in May 2015, after being flat in April 2015. The seasonally adjusted series fell 6.2% in May 2015, after a rise of 0.7% in April 2015.

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) was flat in May 2015, after a rise of 0.1% in April 2015. The seasonally adjusted series fell 5.0% in May 2015, after a rise of 0.1% in April 2015. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) rose 0.8% in May 2015, following a rise of 0.3% in April 2015. The seasonally adjusted series rose 8.3% in May 2015, following a rise of 0.7% in April 2015.

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 May 2015, the value of outstanding housing loans financed by Authorised Deposit-taking Institutions (ADIs) was $1,399,525m, up $7,437m (0.5%) from the April 2015 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $3,804m (0.4%) to $912,572m and investment housing loan outstandings financed by ADIs rose $3,634m (0.8%) to $486,954m.

Bank housing loan outstandings rose $7,429m (0.6%) during May 2015 to reach a closing balance of $1,353,934m. Owner occupied housing loan outstandings of banks rose $3,912m (0.4%) to $876,442m and investment housing loan outstandings of banks rose $3,517m (0.7%) to $477,492m.

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