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SUMMARY OF FINDINGS


HOUSING FINANCE FOR OWNER OCCUPATION

The total value of owner occupied housing commitments excluding alterations and additions increased 0.3% (trend) and the seasonally adjusted series rose 2.0%.

For further information, please refer to Housing Finance, Australia (cat. no. 5609.0).

PERSONAL FINANCE

In trend terms, the value of total personal finance fell 0.1% in November 2007 compared with October 2007. The trend series fell in revolving credit commitments (down 0.4%), offset by an increase in fixed lending commitments (up 0.4%).

In seasonally adjusted terms, the value of total personal finance commitments fell 0.3% in November 2007. This decrease was due to a fall in revolving credit commitments (down 1.3%), offset by a rise in fixed lending commitments (up 1.0%).

In original terms, fixed lending commitments increased by $179m (up 5.6%) in November 2007 compared with October 2007.

Movements in the original series contributing to this decrease were:

• Refinancing, up $104m (14.9%)
• Other, up $68m (8.6%)
• Debt consolidation, up $21m (6.5%)

The seasonally adjusted series for the value of total commercial finance commitments rose by 8.1% in November 2007. This increase was due to a rise in fixed lending commitments (up 12.9%) and revolving credit commitments (up 0.7%).

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

PURCHASE OF DWELLINGS BY INDIVIDUALS FOR RENT OR RESALE