SUMMARY OF FINDINGS
HOUSING FINANCE FOR OWNER OCCUPATION
The trend series for the total value of owner occupied housing commitments excluding alterations and additions increased 2.9% and the seasonally adjusted series rose 1.9%.
For further information, please refer to Housing Finance, Australia (cat. no. 5609.0), which was released on 10 June 2009.
In trend terms, the value of total personal finance commitments decreased 0.1% in April 2009 compared with March 2009. Revolving credit commitments fell 1.5%, while fixed lending commitments rose 1.6%.
In seasonally adjusted terms, the value of total personal finance commitments increased 0.2% in April 2009. Fixed lending commitments increased 3.8%, while revolving credit commitments decreased 2.9%.
In original terms, fixed lending commitments decreased 9.2% (down $282m ) in April 2009 compared with March 2009.
Movements in the original series contributing to this decrease were:
- Total motor vehicles, down $100m (13.0%)
- Other, down $64m (9.6%)
- Refinancing, down $38m (5.4%)
The trend series for the value of total commercial finance commitments decreased 0.1% in April 2009 compared with March 2009. Revolving credit commitments fell 1.8%, while fixed lending commitments rose 0.7%.
The seasonally adjusted series for the value of total commercial finance commitments decreased 12.9% in April 2009 compared with March 2009. This was driven by falls in fixed lending commitments (down 17.9%) and revolving credit commitments (down 1.2%).
The value of commitments for the purchase of dwellings by individuals for rent or resale (trend) increased 1.3% in April 2009, following a revised increase of 1.2% in March 2009. The seasonally adjusted series rose 5.3% in April 2009.
PURCHASE OF DWELLINGS BY INDIVIDUALS FOR RENT OR RESALE
The value of lease finance commitments (trend) decreased 3.3% in April 2009. The seasonally adjusted series decreased 8.4%.