AU: Home Loans


Mon Jul 10 20:30:00 CDT 2017

Consensus Actual Previous
M/M percent change 1.5% 1.0% -1.9%
Yr/Yr percent change -3.5% -6.4%

Highlights
In May, the number of dwelling commitments for owner occupied housing rebounded a less than expected 1.0 percent on the month after a 1.9 percent decline in April. Expectations were for an increase of 1.5 percent. The increase was mainly driven by a 2.4 percent increase in the purchase of new dwellings (up 3.7 percent) and construction of dwellings (up 2.4 percent).

On the year, the number of dwelling commitments fell 3.5 percent in May, after a drop of 5.8 percent in April.

The total value of dwelling commitments (excluding alterations and additions) was up 1.3 percent in May, with the value of investment housing commitments with fixed loans dropping 1.4 percent but the value of owner occupied housing commitments up 2.9 percent.

Definition
Home Loans data are included in the monthly housing finance report. The report also contains data for home loans for secured and unsecured housing finance commitments for owner occupation, commitments for construction or purchase of dwellings for rent or resale and loans outstanding to individuals/households for housing.

Description
The health of the housing market is always a key element in evaluating the strength of the economy. And it is no different for Australia. The data released here are for secured and unsecured housing finance commitments for owner occupation, commitments for construction or purchase of dwellings for rent or resale, and loan outstanding to individuals/households for housing.

For secured housing finance for owner occupation, these data give the number and value of commitments made by banks, permanent building societies, wholesale lenders not elsewhere classified and other lenders, provided to individuals/households. These commitments are classified by construction of dwellings, the purchase of new and established dwellings, the refinancing of existing dwellings and alterations and additions to dwellings.