5609.0 - Housing Finance, Australia, Nov 2015 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 15/01/2016   
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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 0.1% in November 2015 compared with October 2015, while the seasonally adjusted series rose 1.8% in November 2015.

The total value of owner occupied housing commitments (trend) rose (up $367m, 1.7%) in November 2015. Rises were recorded in commitments for the purchase of established dwellings (up $315m, 1.7%), commitments for the construction of dwellings (up $33m, 1.8%) and commitments for the purchase of new dwellings (up $19m, 1.6%). The seasonally adjusted series for the total value of owner occupied housing commitments rose 2.4% in November 2015.

The total value of investment housing commitments (trend) fell (down $346m, 2.9%) in November 2015 compared with October 2015. Falls were recorded in commitments for the purchase of dwellings by others for rent or resale (down $11m, 0.8%) and commitments for the purchase of dwellings by individuals for rent or resale (down $342m, 3.5%), while a rise was recorded in commitments for the construction of dwellings for rent or resale (up $6m, 0.7%). The seasonally adjusted series for the total value of investment housing commitments rose 0.7% in November 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) rose 0.8% in November 2015, following a rise of 0.8% in October 2015. Rises were recorded in commitments for the refinancing of established dwellings (up 284, 1.5%), commitments for the purchase of established dwellings excluding refinancing (up 94, 0.3%) and commitments for the construction of dwellings (up 65, 1.1%). The seasonally adjusted series for the total number of owner occupied housing commitments rose 1.8% in November 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 October 2015 and November 2015, the number of owner occupied housing commitments (trend) rose in Victoria (up 372, 2.4%), New South Wales (up 220, 1.2%), South Australia (up 37, 1.0%), the Australian Capital Territory (up 23, 2.4%), the Northern Territory (up 9, 2.9%) and Tasmania (up 4, 0.5%), while falls were recorded in Western Australia (down 24, 0.4%) and Queensland (down 26, 0.3%) .

The seasonally adjusted estimates rose in Victoria (up 592, 3.8%), the Australian Capital Territory (up 93, 9.9%), South Australia (up 72, 2.0%), the Northern Territory (up 64, 21.3%), Tasmania (up 59, 6.7%), Western Australia (up 50, 0.8%), New South Wales (up 42, 0.2%) and Queensland (up 15, 0.1%).

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 14.9% in November 2015 from 15.0% in October 2015. Between October 2015 and November 2015, the average loan size for first home buyers fell $1,000 to $354,500. The average loan size for all owner occupied housing commitments rose $3,700 to $386,100 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 0.5% in November 2015, following a rise of 0.5% in October 2015. The seasonally adjusted series rose 0.9% in November 2015, after a fall of 0.9% in October 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) rose 1.1% in November 2015, following a rise of 0.7% in October 2015. The seasonally adjusted series rose 2.7% in November 2015, after a fall of 0.7% in October 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 0.4% in November 2015, following a rise of 0.7% in October 2015. The seasonally adjusted series fell 3.5% in November 2015, following a fall of 1.6% in October 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) rose 0.8% in November 2015, following a rise of 0.8% in October 2015. The seasonally adjusted series rose 2.0% in November 2015, after a fall of 0.2% in October 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 1.5% in November 2015, following a rise of 1.4% in October 2015. The seasonally adjusted series rose 3.5% in November 2015, following a rise of 1.0% in October 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) rose 0.8% in November 2015, following a rise of 0.8% in October 2015. The seasonally adjusted series rose 1.5% in November 2015, following a rise of 0.1% in October 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) rose 1.0% in November 2015, following a rise of 0.7% in October 2015. The seasonally adjusted series rose 4.8% in November 2015, after a fall of 4.2% in October 2015. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) fell 4.8% in November 2015, following a fall of 6.7% in October 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 November 2015, the value of outstanding housing loans financed by Authorised Deposit-taking Institutions (ADIs) was $1,449b, up $11b (0.8%) from the October 2015 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $10b (1.2%) to $922b and investment housing loan outstandings financed by ADIs rose $0.8b (0.2%) to $527b.

Bank housing loan outstandings rose $11b (0.8%) during November 2015 to reach a closing balance of $1,406b. Owner occupied housing loan outstandings of banks rose $10b (1.2%) to $889b and investment housing loan outstandings of banks rose $0.7b (0.1%) to $517b.

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