5609.0 - Housing Finance, Australia, Feb 2008  
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 14/04/2008   
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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 29 and 30 in the Explanatory Notes.

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

1 The March 2008 seasonally adjusted estimate of the number of dwelling commitments is higher than the February 2008 seasonally adjusted estimate by 2.4%.

2 The March 2008 seasonally adjusted estimate of the number of dwelling commitments is lower than the February 2008 seasonally adjusted estimate by 2.4%.

The percentage change of 2.4% was chosen because the average absolute percentage change of the seasonally adjusted series, based on the last 10 years of data, has been 2.4%.

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
August 2007
64 311
-0.5
64 313
-0.5
64 313
-0.5
September 2007
64 341
0.0
64 338
0.0
64 397
0.1
October 2007
64 686
0.5
64 678
0.5
64 782
0.6
November 2007
65 142
0.7
65 143
0.7
65 195
0.6
December 2007
65 522
0.6
65 512
0.6
65 374
0.3
January 2008
65 789
0.4
65 690
0.3
65 237
-0.2
February 2008
65 836
0.1
65 707
0.0
64 852
-0.6