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 0.7% in June 2010 compared with May 2010. The seasonally adjusted series decreased 1.0%.
For further information, please refer to Housing Finance, Australia (cat. no. 5609.0), which was released on 9 August 2010.
(Tables 1 & 4)
In trend terms, the value of total personal finance commitments decreased 0.1% in June 2010 compared with May 2010. Revolving credit commitments fell 0.8%, while fixed lending commitments rose 0.8%.
In seasonally adjusted terms, the value of total personal finance commitments increased 1.2% in June 2010. Fixed lending commitments rose 3.7%, while revolving credit commitments fell 1.1%.
In original terms, fixed lending commitments rose 14.6% (up $489m) in June 2010 compared to an average May to June rise of 11.5% over the previous three years. While all categories recorded increases in original terms, the major movements in the series were commitments for refinancing up $241m (24.4%), the purchase of motor vehicles up $94m (11.8%) and debt consolidation up $51m (19.3%).
(Tables 1 & 8)
The trend series for the value of total commercial finance commitments decreased 0.3% in June 2010 compared with May 2010. Fixed lending commitments decreased 0.7% , while revolving credit commitments increased 0.7%.
The seasonally adjusted series for the value of total commercial finance commitments decreased 8.9% in June 2010. Revolving credit commitments fell 10.6% and fixed lending commitments fell 8.1%.
The value of commitments for the purchase of dwellings by individuals for rent or resale (trend) increased 0.5% in June 2010, following an increase of 0.6% in May 2010. The seasonally adjusted series rose 0.6% in June 2010.
PURCHASE OF DWELLINGS BY INDIVIDUALS FOR RENT OR RESALE
The value of total lease finance commitments (trend) was flat (0.0%) in June 2010. The seasonally adjusted series decreased 6.0%.