SUMMARY OF FINDINGS
HOUSING FINANCE FOR OWNER OCCUPATION
The trend series for the total value of owner occupied housing commitments excluding alterations and additions decreased 0.2% and the seasonally adjusted series fell 1.7%.
For further information, please refer to Housing Finance, Australia (cat. no. 5609.0), which was released on 7 October 2009.
In trend terms, the value of total personal finance commitments increased 1.0% in August 2009 compared with July 2009. Fixed lending commitments rose 1.3% and revolving credit commitments rose 0.7%.
In seasonally adjusted terms, the value of total personal finance commitments increased 4.1% in August 2009. Revolving credit commitments rose 4.5% and fixed lending commitments rose 3.6%.
In original terms, fixed lending commitments decreased 4.7% (down $164m ) in August 2009 compared with July 2009.
The major movements in the original series contributing to this decrease were:
- Refinancing, down $62m (5.4%)
- Other, down $55m (7.4%)
- Total motor vehicles, down $17m (2.4%).
The trend series for the value of total commercial finance commitments decreased 0.3% in August 2009 compared with July 2009. Revolving credit commitments fell 0.9%, while fixed lending commitments recorded no change in percentage terms.
The seasonally adjusted series for the value of total commercial finance commitments increased 5.6%, driven mainly by a rise of 7.6% in fixed lending commitments. Revolving credit commitments rose 1.0%.
The value of commitments for the purchase of dwellings by individuals for rent or resale (trend) increased 1.1% in August 2009, following a revised increase of 1.4% in July 2009. The seasonally adjusted series rose 3.8% in August 2009.
PURCHASE OF DWELLINGS BY INDIVIDUALS FOR RENT OR RESALE
The value of lease finance commitments (trend) decreased 0.7% in August 2009. The seasonally adjusted series decreased 9.4%.