SUMMARY OF FINDINGS
HOUSING FINANCE FOR OWNER OCCUPATION
The total value of owner-occupied housing commitments excluding alterations and additions decreased by 0.9% (seasonally adjusted), while the trend series fell 0.6%.
For further information, please refer to Housing Finance, Australia (cat. no. 5609.0).
In seasonally adjusted terms, the value of total personal finance commitments fell by 1.2% in November 2006 compared with October 2006. This decrease was due to a fall in revolving credit commitments (down 3.9%), more than offsetting a rise in fixed lending commitments (up 2.2%).
In trend terms, the value of total personal finance fell 0.4% in November 2006. The trend series for fixed lending commitments decreased 0.6% , while revolving credit commitments fell 0.2%.
In original terms, fixed lending commitments increased by $236m (up 7.9%) in November 2006 compared with October 2006. Movements in the original series contributing to this increase were:
- Other, up $118m (15.6%),
- Refinancing, up $62m (9.3%),
- Debt consolidation up $41m (13.0%).
The seasonally adjusted series for the value of total commercial finance commitments fell by 11.8% in November 2006. The decrease was due to a fall in both revolving credit commitments (down 20.6%) and in fixed lending commitments (down 6.0%).
The trend series for commercial finance commitments decreased 0.1% in November 2006. A decrease in fixed lending commitments (down 0.6%), more than offset an increase in revolving credit commitments (up 1.1%).
The value of purchases of dwellings by individuals for rent or resale (seasonally adjusted) fell by 1.4% in November 2006, after a revised increase of 3.0% in October 2006. The trend series fell 3.2% in November 2006.
PURCHASE OF DWELLINGS BY INDIVIDUALS FOR RENT OR RESALE
The value of lease finance commitments (seasonally adjusted) increased by 0.2%. The trend series for lease finance commitments fell by 0.6%.