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5609.0 - Housing Finance, Australia, Jun 2011 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 09/08/2011   
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WHAT IF...? REVISIONS TO TREND ESTIMATES


EFFECT OF NEW SEASONALLY ADJUSTED ESTIMATES ON TREND ESTIMATES


SENSITIVITY ANALYSIS

Readers should exercise care when interpreting the trend estimates of recent months because they will be revised when next month’s seasonally adjusted estimates become available. For further information, see paragraphs 30 and 31 in the Explanatory Notes.

The graph below presents the effect of two possible scenarios on the trend estimates:

1 The July 2011 seasonally adjusted estimate of the number of dwelling commitments is higher than the June 2011 seasonally adjusted estimate by 2.4%.

2 The July 2011 seasonally adjusted estimate of the number of dwelling commitments is lower than the June 2011 seasonally adjusted estimate by 2.4%.

The percentage change chosen is the average absolute percentage change of the seasonally adjusted series, based on the last 10 years of data.

Number of Owner Occupied Dwelling Finance Commitments

Graph: SENSITIVITY ANALYSIS


What if next month's seasonally adjusted estimate:
Trend as published
(1) rises by 2.4% on this month
(2) falls by 2.4% on this month
no.
% change
no.
% change
no.
% change

December 2010
48 837
-0.9
48 837
-0.9
48 837
-0.9
January 2011
48 114
-1.5
48 072
-1.6
48 115
-1.5
February 2011
47 506
-1.3
47 422
-1.4
47 499
-1.3
March 2011
47 242
-0.6
47 198
-0.5
47 236
-0.6
April 2011
47 367
0.3
47 490
0.6
47 389
0.3
May 2011
47 729
0.8
48 142
1.4
47 807
0.9
June 2011
48 193
1.0
48 881
1.5
48 250
0.9




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