SUMMARY OF FINDINGS


DWELLINGS FINANCED

Value of Dwellings Financed

The total value of dwelling commitments excluding alterations and additions (trend) rose 0.3% in October 2016 compared with September 2016, while the seasonally adjusted series fell 0.2% in October 2016.

The total value of owner occupied housing commitments (trend) fell (down $102m, 0.5%) in October 2016. Falls were recorded in the commitments for the purchase of established dwellings (down $101m, 0.6%), and commitments for the purchase of new dwellings (down $2m, 0.2%), while rises were recorded for commitments for the construction of dwellings (up $1m, 0.1%). The seasonally adjusted series for the total value of owner occupied housing commitments fell 0.8% in October 2016.

The total value of investment housing commitments (trend) rose (up $183m, 1.5%) in October 2016 compared with September 2016. Rises were recorded in commitments for the purchase of dwellings by individuals for rent or resale (up $219m, 2.1%), and commitments for the purchase of dwellings by others for rent or resale (up $5m, 0.5%), while a fall was recorded in commitments for the construction of dwellings for rent or resale (down $40m, 4.6%). The seasonally adjusted series for the total value of investment housing commitments rose 0.7% in October 2016.

Further detail can be found in Tables 11, 1 and 2 on the downloads tab of this release and in the PDF.

Number of Owner Occupied Dwellings Financed

The number of owner occupied housing commitments (trend) fell 0.9% in October 2016, following a fall of 1.1% in September 2016. Falls were recorded in commitments for the purchase of established dwellings excluding refinancing (down 228, 0.9%), commitments for the construction of dwellings (down 39, 0.7%) and commitments for the purchase of new dwellings (down 9, 0.3%). The seasonally adjusted series for the total number of owner occupied housing commitments fell 0.8% in October 2016.

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

Number of Owner Occupied Dwellings Financed - State

Between September 2016 and October 2016, the number of owner occupied housing commitments (trend) fell in New South Wales (down 192, 1.2%), Victoria (down 129, 0.9%), Queensland (down 59, 0.5%), Western Australia (down 46, 0.8%), the Australian Capital Territory (down 21, 2.1%), South Australia (down 24, 0.6%) and the Northern Territory (down 9, 3.2%), while a rise was recorded in Tasmania (up 7, 0.7%).

The seasonally adjusted estimates fell in New South Wales (down 385, 2.3%), Queensland (down 182, 1.7%), Victoria (down 7, 0.0%), South Australia (down 74, 1.9%), Western Australia (down 14, 0.2%) and the Northern Territory (down 19, 6.3%), while rises were recorded in the Australian Capital Territory (up 57, 6.1%), and Tasmania (up 30, 3.0%).

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 13.7% in October 2016 from 13.1% in September 2016. This rise was driven by a fall in the number of non-first home buyer commitments; the number of first home buyer commitments fell slightly.

Between September 2016 and October 2016, the average loan size for first home buyers rose $3,300 to $327,700. The average loan size for all owner occupied housing commitments rose $5,300 to $373,000 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 0.8% in October 2016, following a fall of 0.9% in September 2016. The seasonally adjusted series rose 0.9% in October 2016, following a rise of 0.9% in September 2016.

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

PURPOSE OF FINANCE (OWNER OCCUPATION)

Construction of dwellings

The number of finance commitments for the construction of dwellings for owner occupation (trend) fell 0.7% in October 2016, following a fall of 0.6% in September 2016. The seasonally adjusted series fell 0.8% in October 2016, following a fall of 0.9% in September 2016.

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

Purchase of new dwellings

The number of finance commitments for the purchase of new dwellings for owner occupation (trend) fell 0.3% in October 2016, following a fall of 0.2% in September 2016. The seasonally adjusted series rose 0.3% in October 2016, following a rise of 1.3% in September 2016.

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

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 1.0% in October 2016, following a fall of 1.2% in September 2016. The seasonally adjusted series fell 0.8% in October 2016, after a rise of 1.8% in September 2016.

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

Refinancing

The number of refinancing commitments for owner occupied housing (trend) fell 1.2% in October 2016, following a fall of 1.3% in September 2016. The seasonally adjusted series fell 3.6% in October 2016, after a rise of 2.4% in September 2016.

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

TYPE OF LENDER (OWNER OCCUPATION)

Banks

The number of commitments for owner occupied dwellings financed by banks (trend) fell 1.0% in October 2016, following a fall of 1.1% in September 2016. The seasonally adjusted series fell 0.5% in October 2016, after a rise of 1.6% in September 2016.

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

Non-banks

The number of commitments for owner occupied dwellings financed by non-banks (trend) fell 0.4% in October 2016, following a fall of 1.2% in September 2016. The seasonally adjusted series fell 4.2% in October 2016, after a fall of 0.5% in September 2016. The number of commitments for owner occupied dwellings financed by permanent building societies (trend) fell 3.0% in October 2016, following a fall of 2.5% in September 2016.

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

HOUSING LOAN OUTSTANDINGS

At the end of October 2016, the value of outstanding housing loans financed by Authorised Deposit-taking Institutions (ADIs) was $1,540b, up $9b (0.6%) from the September 2016 closing balance. Owner occupied housing loan outstandings financed by ADIs rose $7b (0.7%) to $999b, and investment housing loan outstandings financed by ADIs rose $2.7b (0.5%) to $541b.

Bank housing loan outstandings rose $9b (0.6%) during October 2016 to reach a closing balance of $1,503b. Owner occupied housing loan outstandings of banks rose $7b (0.7%) to $970b and investment housing loan outstandings of banks rose $3b (0.5%) to $533b.

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