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SUMMARY OF FINDINGS


HOUSING FINANCE FOR OWNER OCCUPATION

The total value of owner occupied housing commitments excluding alterations and additions trend series increased 0.4% and the seasonally adjusted series rose 0.5%.

For further information on housing finance for December 2007 please refer to Housing Finance, Australia (cat. no. 5609.0), which was released on 11 February 2008.

PERSONAL FINANCE

In trend terms, the value of total personal finance rose 0.9% in December 2007 compared with November 2007. The trend series rose in both revolving credit commitments (up 1.1%) and fixed lending commitments (up 0.6%).

In seasonally adjusted terms, the value of total personal finance commitments rose 3.1% in December 2007. This increase was due to a rise in both revolving credit commitments (up 5.6%) and fixed lending commitments (up 0.1%).

In original terms, fixed lending commitments decreased by $457m (down 13.4%) in December 2007 compared with November 2007.

Movements in the original series contributing to this decrease were:

• Refinancing, down $138m (17.3%)
• Other, down $98m (11.4%)
• Total Motor Vehicles, down $95m (11.0%)

The seasonally adjusted series for the value of total commercial finance commitments fell by 4.1% in December 2007. This decrease was due to a fall in revolving credit commitments (down 19.1%), while fixed lending commitments rose (up 4.3%).

The value of purchases of dwellings by individuals for rent or resale (trend) fell 1.6% in December 2007, after a decrease of 1.6% in November 2007. The seasonally adjusted series fell by 4.3% in November 2007.

PURCHASE OF DWELLINGS BY INDIVIDUALS FOR RENT OR RESALE