5609.0 - Housing Finance, Australia, Jan 2015 Quality Declaration 
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 11/03/2015   
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This document was added or updated on 30/04/2015.

SUMMARY OF FINDINGS


DWELLINGS FINANCED

Value of Dwellings Financed

The total value of dwelling commitments excluding alterations and additions (trend) rose 0.8% in January 2015 compared with December 2014, while the seasonally adjusted series fell 0.6% in January 2015.

The total value of owner occupied housing commitments (trend) rose (up $133m, 0.8%) in January 2015. Rises were recorded in commitments for the purchase of established dwellings (up $144m, 1.0%) and commitments for the construction of dwellings (up $3m, 0.2%) while a fall was recorded in commitments for the purchase of new dwellings (down $13m, 1.4%). The seasonally adjusted series for the total value of owner occupied housing commitments fell 1.0% in January 2015.

The total value of investment housing commitments (trend) rose (up $118m, 1%) in January 2015 compared with December 2014. Rises were recorded in commitments for the purchase of dwellings by individuals for rent or resale (up $80m, 0.8%), commitments for the purchase of dwellings by others for rent or resale (up $20m, 1.9%) and commitments for the construction of dwellings for rent or resale (up $18m, 2.0%). The seasonally adjusted series for the total value of investment housing commitments fell 0.1% in January 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 0.1% in January 2015, after being flat in December 2014. Falls were recorded in commitments for the construction of dwellings (down 62, 1.0%), commitments for the purchase of new dwellings (down 52, 1.9%) and commitments for the purchase of established dwellings excluding refinancing (down 19, 0.1%), while a rise was recorded in commitments for the refinancing of established dwellings (up 88, 0.5%). The seasonally adjusted series for the total number of owner occupied housing commitments fell 3.5% in January 2015.

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

Graph: Number of Owner Occupied Dwellings Financed


Number of Owner Occupied Dwellings Financed - State

Between December 2014 and January 2015, the number of owner occupied housing commitments (trend) fell in Western Australia (down 57, 0.7%), Queensland (down 56, 0.6%), South Australia (down 44, 1.4%), the Northern Territory (down 15, 4.2%) and the Australian Capital Territory (down 1, 0.1%), while rises were recorded in New South Wales (up 108, 0.7%), Victoria (up 15, 0.1%) and Tasmania (up 7, 0.8%).

The seasonally adjusted estimates fell in Western Australia (down 665, 8.5%), South Australia (down 422, 12.3%), Victoria (down 292, 2.0%), Queensland (down 163, 1.6%), New South Wales (down 69, 0.4%), the Australian Capital Territory (down 39, 4.5%) and the Northern Territory (down 35, 10.0%), while a rise was recorded in Tasmania (up 80, 9.4%).

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 14.2% in January 2015 from 14.3% in December 2014. Between December 2014 and January 2015, the average loan size for first home buyers rose $600 to $333,500. The average loan size for all owner occupied housing commitments rose $3,700 to $346,600 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) fell 0.4% in January 2015, following a fall of 0.5% in December 2014. The seasonally adjusted series fell 4.4% in January 2015, after a rise of 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.

Graph: 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 1.0% in January 2015, following a fall of 1.0% in December 2014. The seasonally adjusted series fell 4.7% in January 2015, after a rise of 0.5% in December 2014.

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

Graph: Construction of dwellings


Purchase of new dwellings

The number of finance commitments for the purchase of new dwellings for owner occupation (trend) fell 1.9% in January 2015, following a fall of 2.0% in December 2014. The seasonally adjusted series fell 6.5% in January 2015, following a fall of 2.2% in December 2014.

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

Graph: Purchase of new dwellings


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 0.2% in January 2015, following a rise of 0.2% in December 2014. The seasonally adjusted series fell 3.1% in January 2015, after a rise of 3.4% in December 2014.

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

Graph: Purchase of established dwellings including refinancing


Refinancing

The number of refinancing commitments for owner occupied housing (trend) rose 0.5% in January 2015, following a rise of 0.8% in December 2014. The seasonally adjusted series fell 1.8% in January 2015, after a rise of 2.8% in December 2014.

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

Graph: Refinancing


TYPE OF LENDER (OWNER OCCUPATION)

Banks

The number of commitments for owner occupied dwellings financed by banks (trend) fell 0.1% in January 2015, after being flat in December 2014. The seasonally adjusted series fell 3.3% in January 2015, after a rise of 1.9% in December 2014.

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

Graph: Banks


Non-banks

The number of commitments for owner occupied dwellings financed by non-banks (trend) fell 0.1% in January 2015, following a fall of 0.3% in December 2014. The seasonally adjusted series fell 5.3% in January 2015, after a rise of 12.9% in December 2014. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) rose 1.5% in January 2015, following a rise of 2.5% in December 2014. The seasonally adjusted series fell 20.7% in January 2015, after a rise of 14.1% in December 2014.

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

Graph: Non-banks


HOUSING LOAN OUTSTANDINGS

At the end of January 2015, the value of outstanding housing loans financed by Authorised Deposit-taking Institutions (ADIs) was $1,368,488m, up $8,116m (0.6%) from the December 2014 closing balance. Owner occupied housing loan outstanding financed by ADIs rose $4,422m (0.5%) to $896,709m and investment housing loan outstandings financed by ADIs rose $3,694m (0.8%) to $471,779m.

Bank housing loan outstandings rose $7,106m (0.5%) during January 2015 to reach a closing balance of $1,321,710m. Owner occupied housing loan outstandings of banks rose $3,601m (0.4%) to $859,439m and investment housing loan outstandings of banks rose $3,505m (0.8%) to $462,271m.

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