AU: Home Loans


Thu Feb 08 18:30:00 CST 2018

Actual Previous Revised
M/M percent change -2.3% 2.1% 1.6%
Yr/Yr percent change 0.5% 4.0% 3.6%

Highlights
The number of dwelling commitments for owner occupied housing in Australia fell 2.3 percent on the month in December (seasonally adjusted) after increasing 1.6 percent in November. The number of commitments has now fallen in three of the last four months, providing further evidence that conditions have cooled in the Australian housing market

The decline in headline commitments in December was broad-based. Home loans for the purchase of established dwellings also fell by 2.3 percent on the month, while loans for the construction of dwellings and the purchase of new dwellings dropped 1.1 percent and 3.8 percent respectively.

The seasonally adjusted number of dwelling commitments rose 0.5 percent on the year in December, slowing from growth of 3.6 percent previously. In original terms, commitments fell 2.5 percent on the year after an increase of 3.0 percent in November.

The total value of dwelling commitments (excluding alterations and additions) also fell on the month in December, dropping 1.6 percent, with the value of owner occupied housing commitments and investment housing commitments falling 1.0 percent and 2.6 percent respectively.

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.