SUMMARY OF FINDINGS
HOUSING FINANCE FOR OWNER OCCUPATION
The total value of owner-occupied housing commitments excluding alterations and additions increased by 1.4% (seasonally adjusted), while the trend series rose 0.4%.
For further information, please refer to Housing Finance, Australia (cat. no. 5609.0).
In seasonally adjusted terms, the value of total personal finance commitments rose by 6.3% in January 2007 when compared with December 2006. This increase was due to a rise in revolving credit commitments (up 12.5%) while fixed lending commitments fell by 1.1%.
In trend terms, the value of total personal finance rose 0.7% in January 2007. The trend series for revolving credit commitments rose 1.2%, while fixed lending commitments rose 0.1%.
In original terms, fixed lending commitments decreased by $128m (down 4.6%) in January 2007 when compared with December 2006.
Movements in the original series contributing to this decrease were:
- Other, down $110m (-13.8%),
- Refinancing, down $50m (-8.4%)
The seasonally adjusted series for the value of total commercial finance commitments rose by 11.9% in January 2007. This increase was due to a rise in fixed lending commitments (up 16.3%) and revolving credit commitments (up 2.3%)
The trend series for the value of total commercial finance commitments increased 0.7% in January 2007. This increase was due to a rise in fixed lending commitments (up 1.7%) while revolving credit commitments decreased 1.4%.
The value of purchases of dwellings by individuals for rent or resale (seasonally adjusted) rose by 7.8% in January 2007, after a revised decrease of 0.1% in December 2006. The trend series rose 1.4% in January 2007.
PURCHASE OF DWELLINGS BY INDIVIDUALS FOR RENT OR RESALE
The value of lease finance commitments (seasonally adjusted) decreased by 13.2%. The trend series for lease finance commitments fell by 0.6%.