SUMMARY OF FINDINGS
HOUSING FINANCE FOR OWNER OCCUPATION
The total value of owner occupied housing commitments excluding alterations and additions increased by 6.6% (seasonally adjusted) and the trend series rose 2.0%.
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 by 15.4% in June 2007 compared with May 2007. This increase was due to a rise in both revolving credit commitments (up 19.1%) and fixed lending commitments (up 11.1%).
In trend terms, the value of total personal finance rose 2.6% in June 2007. The trend series rose in both revolving credit commitments (up 3.1%) and fixed lending commitments (up 2.0%).
In original terms, fixed lending commitments increased by $196m (up 5.7%) in June 2007 compared with May 2007.
Movements in the original series contributing to this increase were:
- Refinancing, up $124m (16.7%)
- Other, up $92m (10.1%)
- Individual residential blocks of land, up $15m (2.9%)
COMMERCIAL FINANCE
The seasonally adjusted series for the value of total commercial finance commitments rose by 30.0% in June 2007. This increase was due to a rise in both fixed lending commitments (up 36.8%) and revolving credit commitments (up 20.0%).
The trend series for the value of total commercial finance commitments rose 3.7% in June 2007. This was due to a rise in both fixed lending commitments (up 3.8%) and revolving credit commitments (up 3.6%).
The value of purchases of dwellings by individuals for rent or resale (seasonally adjusted) rose 10.0% in June 2007, after an increase of 5.7% in May 2007. The trend series rose 3.8% in June 2007.
PURCHASE OF DWELLINGS BY INDIVIDUALS FOR RENT OR RESALE
LEASE FINANCE
The value of lease finance commitments (seasonally adjusted) decreased by 5.2% in June 2007. The trend series for lease finance commitments fell by 0.3%.
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