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SUMMARY OF FINDINGS


HOUSING FINANCE FOR OWNER OCCUPATION

The total value of owner occupied housing commitments excluding alterations and additions decreased by 2.5% (seasonally adjusted) and the trend series fell 0.7%.

For further information, please refer to Housing Finance, Australia (cat.no. 5609.0).

PERSONAL FINANCE

In seasonally adjusted terms, the value of total personal finance commitments rose 0.2% in September 2007 compared with August 2007. Revolving credit commitments rose 1.0%, while fixed lending commitments fell 0.8%.

In trend terms, the value of total personal finance fell 1.1% in September 2007. The trend series decreased in both fixed lending commitments (down 1.5%) and revolving credit commitments (down 0.7%).

In original terms, fixed lending commitments decreased by $392m (down 12.5%) in September 2007 compared with August 2007.

Movements in the original series contributing to this decrease were:

• Individual Residential Blocks of Land, down $102m (19.8%)
• Total Motor Vehicles, down $97m (11.3%)
• Other, down $88m (11.9%)

The trend series for the value of total commercial finance commitments rose 2.0% in September 2007. This was due to a rise in both fixed lending commitments (up 3.0%) and revolving credit commitments (up 0.4%).

The value of purchases of dwellings by individuals for rent or resale (seasonally adjusted) fell 3.2% in September 2007, after a decrease of 3.6% in August 2007. The trend series fell 1.2% in September 2007. A turning point is now evident in the trend series in July 2007.

PURCHASE OF DWELLINGS BY INDIVIDUALS FOR RENT OR RESALE