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 3.6% and the seasonally adjusted series fell 1.1%.
For further information, please refer to Housing Finance, Australia (cat. no. 5609.0), which was released on 6 August 2008.
PERSONAL FINANCE
In trend terms, the value of total personal finance fell 1.6% in June 2008 compared with May 2008. This was due to a fall in both fixed lending commitments (down 2.4%) and revolving credit commitments (down 1.0%).
In seasonally adjusted terms, the value of total personal finance commitments rose 5.8% in June 2008. This was due to a rise in both fixed lending commitments (up 10.6%) and revolving credit commitments (up 2.1%).
In original terms, fixed lending commitments increased by $302m (up 10.4%) in June 2008 compared with May 2008.
Movements in the original series contributing to this increase were:
- Refinancing, up $177m (29.4%)
- Individual Residential Blocks of Land, up $81m (24.1%)
- Other, up $64m (8.5%)
COMMERCIAL FINANCE
The trend series for the value of total commercial finance commitments fell 5.8% in June 2008 compared with May 2008. This was due to a fall in both fixed lending commitments (down 6.9%) and revolving credit commitments (down 3.6%).
The seasonally adjusted series for the value of total commercial finance commitments fell 2.0% in June 2008. This decrease was due to a fall in both revolving credit commitments (down 5.0%) and fixed lending commitments (down 0.4%).
The value of purchases of dwellings by individuals for rent or resale (trend) fell 3.0% in June 2008, after a decrease of 3.7% in May 2008. The seasonally adjusted series rose by 0.2% in June 2008.
PURCHASE OF DWELLINGS BY INDIVIDUALS FOR RENT OR RESALE
![Graph: PURCHASE OF DWELLINGS BY INDIVIDUALS FOR RENT OR RESALE](/ausstats/abs@.nsf/0/43bbb7c737d535d2ca2574bf0012b288/Body/0.B48!OpenElement&FieldElemFormat=gif)
LEASE FINANCE
The value of lease finance commitments (trend) recorded no change in June 2008, while the seasonally adjusted series rose 11.7%.