AU: Home Loans


Tue Jan 16 18:30:00 CST 2018

Consensus Actual Previous
M/M percent change 0.5% 2.1% -0.6%
Yr/Yr percent change 4.0% 2.4%

Highlights
The number of dwelling commitments for owner occupied housing in Australia rose 2.1 percent on the month in November (seasonally adjusted) after dropping 0.6 percent in October. This increase follows two months of declines and was well above the consensus forecast for an increase of 0.5 percent.

The increase in headline commitments in November was broad-based. Home loans for the purchase of established dwellings rose by 2.1 percent on the month, while loans for the construction of dwellings and the purchase of new dwellings advanced 2.0 percent and 2.6 percent respectively.

The seasonally adjusted number of dwelling commitments rose 4.0 percent on the year in October, up from an increase of 2.6 percent in October. In original terms, commitments increased by 3.0 percent on the year after an increase of 7.0 percent in October.

The total value of dwelling commitments (excluding alterations and additions) advanced 2.3 percent on the month in November, with the value of owner occupied housing commitments up 2.7 percent and the value of investment housing commitments increasing by 1.5 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.