AU: Home Loans


Wed Oct 11 19:30:00 CDT 2017

Consensus Actual Previous Revised
M/M percent change 0.4% 1.0% 2.9% 2.8%
Yr/Yr percent change 7.5% 3.3% 3.2%

Highlights
The number of dwelling commitments for owner occupied housing in Australia increased 1.0 percent on the month in August (seasonally adjusted) after an increase of 2.8 percent in July.

The increase in the headline number in August was driven by home loans for the purchase of new and established dwellings, which both increased by 1.5 percent on the month. This was partly offset by a 2.4 percent drop in the number of home loans for the construction of dwellings.

The seasonally adjusted number of dwelling commitments rose 7.5 percent on the year in August, after an increase of 3.2 percent in July. In original terms, commitments also increased by 7.5 percent after an increase of 1.6 percent in July.

The total value of dwelling commitments (excluding alterations and additions) rose 2.1 percent on the month in August, with the value of owner occupied housing commitments up 0.9 percent and the value of investment housing commitments up 4.3 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.