5609.0 - Housing Finance, Australia, Oct 2015 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 09/12/2015   
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SUMMARY OF FINDINGS


DWELLINGS FINANCED

Value of Dwellings Financed

The total value of dwelling commitments excluding alterations and additions (trend) was flat in October 2015 compared with September 2015, while the seasonally adjusted series fell 2.0% in October 2015.

The total value of owner occupied housing commitments (trend) rose $400m (1.9%) in October 2015. Rises were recorded in commitments for the purchase of established dwellings ($349m, 2.0%), commitments for the purchase of new dwellings ($38m, 3.1%) and commitments for the construction of dwellings ($13m, 0.7%). The seasonally adjusted series for the total value of owner occupied housing commitments rose 0.4% in October 2015.

The total value of investment housing commitments (trend) fell ($387m, 3.1%) in October 2015 compared with September 2015. Falls were recorded in commitments for the construction of dwellings for rent or resale ($29m, 3.5%) and commitments for the purchase of dwellings by individuals for rent or resale ($360m, 3.5%), while a rise was recorded in commitments for the purchase of dwellings by others for rent or resale ($3m, 0.2%). The seasonally adjusted series for the total value of investment housing commitments fell 6.1% in October 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 October 2015, following a rise of 0.8% in September 2015. Rises were recorded in commitments for the purchase of established dwellings excluding refinancing (264, 0.9%), commitments for the refinancing of established dwellings (125, 0.7%) and commitments for the purchase of new dwellings (43, 1.5%), while a fall was recorded in commitments for the construction of dwellings (2, 0%). The seasonally adjusted series for the total number of owner occupied housing commitments fell 0.5% 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


Number of Owner Occupied Dwellings Financed - State

Between September 2015 and October 2015, the number of owner occupied housing commitments (trend) rose in New South Wales (316, 1.8%), Victoria (222, 1.5%), South Australia (28, 0.8%) and the Australian Capital Territory (1, 0.1%), while falls were recorded in the Northern Territory (4, 1.3%), Tasmania (9, 1.0%), Western Australia (48, 0.7%) and Queensland (61, 0.6%).

The seasonally adjusted estimates fell in Queensland (169, 1.7%), Western Australia (160, 2.4%), New South Wales (134, 0.7%), South Australia (58, 1.6%), the Australian Capital Territory (53, 5.5%) and the Northern Territory (27, 8.1%), while rises were recorded in Victoria (227, 1.5%) and Tasmania (16, 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 15.1% in October 2015 from 15.4% in September 2015. Between September 2015 and October 2015, the average loan size for first home buyers rose $3,900 to $355,700. The average loan size for all owner occupied housing commitments rose $3,000 to $382,400 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 0.8% in October 2015, following a rise of 1.1% in September 2015. The seasonally adjusted series fell 1.2% in October 2015, after a rise of 0.3% in September 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 (2, 0.0%) in October 2015, following a rise of (2, 0.0%) in September 2015. The seasonally adjusted series fell 0.4% in October 2015, after a rise of 2.0% in September 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 1.5% in October 2015, following a rise of 1.5% in September 2015. The seasonally adjusted series fell 1.6% in October 2015, after a rise of 5.5% in September 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 October 2015, following a rise of 0.9% in September 2015. The seasonally adjusted series fell 0.5% in October 2015, after a rise of 1.8% in September 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 0.7% in October 2015, following a rise of 0.4% in September 2015. The seasonally adjusted series rose 0.8% in October 2015, following a rise of 5.5% in September 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 October 2015, following a rise of 1.0% in September 2015. The seasonally adjusted series fell 0.2% in October 2015, after a rise of 1.9% in September 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 0.1% in October 2015, after a fall of 0.4% in September 2015. The seasonally adjusted series fell 4.4% in October 2015, after a rise of 3.7% in September 2015. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) fell 9.8% in October 2015, following a fall of 10.3% in September 2015. The seasonally adjusted series rose 1.2% in October 2015, after a fall of 12.6% in September 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 October 2015, the value of outstanding housing loans financed by Authorised Deposit-taking Institutions (ADIs) was $1,438b, up $8b (0.5%) from the September 2015 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $23b (2.6%) to $912b and investment housing loan outstandings financed by ADIs fell $16b (2.9%)to $526b.

Bank housing loan outstandings rose $8b (0.5%) during October 2015 to reach a closing balance of $1,395b. Owner occupied housing loan outstandings of banks rose $23b (2.7%) to $879b and investment housing loan outstandings of banks fell $16b (3%) to $517b.

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