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OCTOBER KEY FIGURES

Trend estimates

Seasonally adjusted estimates

Oct 2017

Sep 2017 to Oct 2017

Oct 2017

Sep 2017 to Oct 2017


Value of dwelling commitments(a)(b)

$m

% change

$m

% change

Total dwellings

32 821

-0.3

32 503

0.6

Owner occupied housing

20 811

-0.1

20 545

0.0

Investment housing – fixed loans(c)

12 009

-0.5

11 958

1.6


Number of dwelling commitments(a)(b)

no.

% change

no.

% change

Owner occupied housing

56 316

0.3

55 406

-0.6

Construction of dwellings

6 229

-0.5

6 075

-1.4

Purchase of new dwellings

3 190

1.0

3 132

-1.6

Purchase of established dwellings

46 897

0.3

46 199

-0.4


(a) Includes refinancing (see Glossary).
(b) Excludes alterations and additions.
(c) Excludes revolving credit.

Value of dwelling commitments, Total dwellings
Graph: Value of dwelling commitments, Total dwellings

No. of dwelling commitments, Owner occupied housing
Graph: No. of dwelling commitments, Owner occupied housing

OCTOBER KEY POINTS

VALUE OF DWELLING COMMITMENTS

October 2017 compared with September 2017:

  • The trend estimate for the total value of dwelling finance commitments excluding alterations and additions fell 0.3%. Owner occupied housing commitments fell 0.1% and investment housing commitments fell 0.5%.
  • In seasonally adjusted terms, the total value of dwelling finance commitments excluding alterations and additions rose 0.6%.

NUMBER OF DWELLING COMMITMENTS

October 2017 compared with September 2017:

  • In trend terms, the number of commitments for owner occupied housing finance rose 0.3% in October 2017.
  • In trend terms, the number of commitments for the purchase of new dwellings rose 1.0% and the number of commitments for the purchase of established dwellings rose 0.3% while the number of commitments for the construction of dwellings fell 0.5%.
  • In original terms, the number of first home buyer commitments as a percentage of total owner occupied housing finance commitments rose to 17.6% in October 2017 from 17.4% in September 2017.

NOTES

FORTHCOMING ISSUES

ISSUE Release Date
November 2017 17 January 2018
December 2017 9 February 2018
January 2018 13 March 2018
February 2018 12 April 2018
March 2018 11 May 2018
April 2018 12 June 2018

IMPORTANT QUALITY NOTICE: FIRST HOME BUYERS NUMBERS

The number of loans to first home buyers has recorded strong growth in recent months. The increase has been driven mainly by changes to first home buyer incentives made in July by the New South Wales and Victorian governments. The ABS is working with APRA and the financial institutions to establish the size of the increase in first home buyer lending in recent months and improve the quality of first home buyer statistics more broadly. These numbers may be revised and users should take care when interpreting recent ABS first home buyer statistics.

REVISIONS

In this issue, revisions have been made to the original series as a result of improved reporting of survey and administrative data. These revisions have affected the following series:

  • Owner occupied housing for the periods August 2017 and September 2017.
  • Housing loan outstandings for the periods October 2016 to September 2017.
  • Investment housing for the periods August 2017 and September 2017.

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INQUIRIES

For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070.