SUMMARY OF FINDINGS
HOUSING FINANCE FOR OWNER OCCUPATION
The total value of owner occupied housing commitments excluding alterations and additions decreased 7.7% (seasonally adjusted) while the trend series rose 0.9%.
For further information, please refer to Housing Finance, Australia (cat. no. 5609.0).
PERSONAL FINANCE
In seasonally adjusted terms, the value of total personal finance commitments fell 14.0% in July 2007 compared with June 2007. This decrease was due to a fall in both revolving credit commitments (down 14.6%) and fixed lending commitments (down 13.3%).
In trend terms, the value of total personal finance rose 1.1% in July 2007. The trend series increased in both revolving credit commitments (up 1.7%) and fixed lending commitments (up 0.4%).
In original terms, fixed lending commitments decreased by $602m (down 16.5%) in July 2007 compared with June 2007.
Movements in the original series contributing to this decrease were:
- Other, down $268m (26.8%)
- Refinancing, down $217m (25.1%)
- Debt consolidation, down $78m (20.1%)
COMMERCIAL FINANCE
The seasonally adjusted series for the value of total commercial finance commitments fell by 21.2% in July 2007. This decrease was due to a fall in both fixed lending commitments (down 22.6%) and revolving credit commitments (down 18.8%).
The trend series for the value of total commercial finance commitments rose 1.3% in July 2007. This was due to a rise in both fixed lending commitments (up 1.9%) and revolving credit commitments (up 0.4%).
The value of purchases of dwellings by individuals for rent or resale (seasonally adjusted) fell 5.5% in July 2007, after an increase of 9.3% in June 2007. The trend series rose 2.3% in July 2007.
PURCHASE OF DWELLINGS BY INDIVIDUALS FOR RENT OR RESALE
LEASE FINANCE
The value of lease finance commitments (seasonally adjusted) increased by 2.7% in July 2007. The trend series for lease finance commitments fell by 0.4%.
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