SUMMARY OF FINDINGS
HOUSING FINANCE FOR OWNER OCCUPATION
The total value of owner occupied housing commitments excluding alterations and additions fell 0.5% in trend terms and the seasonally adjusted series fell 0.3%.
For further information, please refer to Housing Finance, Australia (cat.no. 5609.0) which was released on 14 May 2012.
(Tables 1 & 4)
In trend terms, the value of total personal finance commitments fell 0.1% in March 2012 compared with February 2012. Revolving credit commitments fell 0.6%, while fixed lending commitments rose 0.3%.
In seasonally adjusted terms, the value of total personal finance commitments rose 1.1%. Revolving credit commitments rose 1.2% and fixed lending commitments rose 1.0%.
(Tables 1 & 8)
The trend series for the value of total commercial finance commitments fell 1.2% in March 2012 compared with February 2012. Revolving credit commitments fell 6.5%, while fixed lending commitments rose 0.7%.
The seasonally adjusted series for the value of total commercial finance commitments rose 8.8% in March 2012, after a fall of 8.1% in February 2012. Revolving credit commitments rose 20.5%, after a fall of 27.0% in the previous month. Fixed lending commitments rose 5.2%, after a fall of 0.1% the previous month.
The value of commitments for the purchase of dwellings by individuals for rent or resale (trend) rose 0.7% in March 2012 and the seasonally adjusted series rose 2.9% in March 2012.
PURCHASE OF DWELLINGS BY INDIVIDUALS FOR RENT OR RESALE
The value of total lease finance commitments (trend) rose 2.0% in March 2012 and the seasonally adjusted series rose 2.5%, following a rise of 2.7% in February 2012.