SUMMARY OF FINDINGS
HOUSING FINANCE FOR OWNER OCCUPATION
The total value of owner occupied housing commitments excluding alterations and additions increased by 3.5% (seasonally adjusted), while the trend series rose 1.2%.
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 0.4% in April 2007 compared with March 2007. This decrease was due to a fall in revolving credit commitments (down 3.0%), offset by a rise in fixed lending commitments (up 2.6%).
In trend terms, the value of total personal finance fell 0.2% in April 2007. The trend series for revolving credit commitments fell 0.8%, while fixed lending commitments rose 0.6%.
In original terms, fixed lending commitments decreased by $526m (down 15.8%) in April 2007 compared with March 2007.
Movements in the original series contributing to this decrease were:
- Other, down $176m (18.8%),
- Total motor vehicles, down $159m (18.2%),
- Refinancing, down $75m (11.0%)
The seasonally adjusted series for the value of total commercial finance commitments fell by 16.8% in April 2007. This decrease was due to a fall in revolving credit commitments (down 37.9%), which was partially offset by an increase in fixed lending commitments (up 5.9%).
The trend series for the value of total commercial finance commitments rose 1.0% in April 2007. This was due to a rise in revolving credit commitments (up 3.6%), which was partially offset by a decrease in fixed lending commitments (down 0.6%).
The value of purchases of dwellings by individuals for rent or resale (seasonally adjusted) rose 2.7% in April 2007, after an increase of 2.0% in March 2007. The trend series rose 2.4% in April 2007.
PURCHASE OF DWELLINGS BY INDIVIDUALS FOR RENT OR RESALE
The value of lease finance commitments (seasonally adjusted) increased by 2.2% in April 2007. The trend series for lease finance commitments rose by 2.1%.