Financial market: Lending commitments to households
Lending commitments to households shows the value of Australian housing finance, contributing to an understanding of the size of the market, growth in housing credit, assets of lending institutions, and household debt.
Lending commitments to households by significant lenders for the purposes of secured housing finance for owner occupation, purchase of investment dwellings and other personal finance are published in the Australian Bureau of Statistics (ABS) publication Lending Indicators. A lending commitment is defined as a firm offer to provide finance which has been accepted by the borrower, and exists once the loan application has been approved and a loan contract or letter of offer has been issued to the borrower. The effects of normal seasonal variation and 'trading day effects' have been removed in the seasonal adjustment figures. To create trend estimates, the seasonally adjusted series is smoothed to reduce the impact of the irregular component of the seasonally adjusted series.
The data contained in the Lending commitments to households dashboard menu option was previously sourced from ABS 5601.0 – Lending to households and businesses, Australia. From December 2019, the ABS replaced this publication with Lending Indicators (cat. no. 5601.0) which contains new and improved content on lending indicators for Australian households and businesses. This dashboard menu option has subsequently been revised to reflect the new and improved data content.
Data on first home buyers is now presented separately in the Lending commitments to first home buyers dashboard menu option.
See ABS 5601.0 – Lending Indicators (https://www.abs.gov.au/ausstats/[email protected]/mf/5601.0) for further information, including in-depth commentary and analysis, in particular the source data Quality Declaration. Source reference tables 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21 and 22.