SUMMARY OF FINDINGS
HOUSING FINANCE FOR OWNER OCCUPATION
The total value of owner occupied housing commitments excluding alterations and additions fell 1.0% in trend terms and the seasonally adjusted series fell 4.8%.
For further information, please refer to Housing Finance, Australia (cat. no. 5609.0), which was released on 6 April 2011.
(Tables 1 & 4)
In trend terms, the value of total personal finance commitments fell 2.3% in February 2011 compared with January 2011. Revolving credit commitments fell 3.0% and fixed lending commitments fell 1.6%.
In seasonally adjusted terms, the value of total personal finance commitments fell 3.5% in February 2011. Fixed lending commitments fell 5.0% and revolving credit commitments fell 1.8%. In seasonally adjusted terms, this was the third consecutive fall in total personal finance commitments.
(Tables 1 & 8)
The trend series for the value of total commercial finance commitments was flat (0.0%) in February 2011 compared with January 2011. Revolving credit commitments rose 1.3%, while fixed lending commitments fell 0.5%.
The seasonally adjusted series for the value of total commercial finance commitments fell 6.6% in February 2011. Fixed lending commitments fell 9.9%, while revolving credit commitments rose 1.0%.
The value of commitments for the purchase of dwellings by individuals for rent or resale (trend) fell 0.8% in February 2011, following a fall of 0.9% in January 2011. The seasonally adjusted series fell 1.4% in February 2011.
PURCHASE OF DWELLINGS BY INDIVIDUALS FOR RENT OR RESALE
The value of total lease finance commitments (trend) fell 0.9% in February 2011. The seasonally adjusted series fell 10.4%.