5609.0 - Housing Finance for Owner Occupation, Australia, 2002  
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 06/11/2002   
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Note: This has now been replaced by 5609.0 Time Series Spreadsheet number 15

1 The new seasonal factors, to be applied to the September 2002 estimates (due for release on 8 November 2002), incorporate some significant structural changes.

There are now six component series of total (formerly there were nine), which are independently seasonally adjusted and trended, then summed for the Total Australia seasonally adjusted and trend series.

These six component series comprise two lender types (banks and non-banks) within each of three purposes (construction, new dwelling finance and established dwelling finance).

In addition, a new methodology for seasonal analysis was introduced. In particular, an improved methodology has been applied to the treatment of the Easter holiday, resulting in relatively greater revisions to the factors for March and April throughout the series.

The series for wholesale lenders has been seasonally adjusted and trended for the first time. With the reduction in the number of component series which are summed to Total Australia, only the factors for total building societies are now provided. Refinancing factors are provided as always.

The File 5609Factors1_2002.xls includes the factors for number and value for the six component series, wholesale lenders, building societies and refinancing, including forward factors up to and including September 2003 (factors for 18 series).

2 In addition, the eight states are independently seasonally adjusted and trended. For this reason, summing across the eight states will not necessarily equal the Total Australia series. However, the introduction of an improved methodology for treating the Easter holiday has reduced in the magnitudes of the differences between the published series for Total Australia (calculated by summing the six lender by purpose components) and the seasonally adjusted series obtained by summing the States.

The File 5609Factors2_2002.xls includes the factors for number and value for the eight state series, up to and including September 2003 (factors for 16 series).