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SUMMARY OF FINDINGS


HOUSING FINANCE FOR OWNER OCCUPATION

The total value of owner occupied housing commitments excluding alterations and additions increased 1.1% (seasonally adjusted), while 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 7.7% in October 2007 compared with September 2007. This increase was due to a rise in revolving credit commitments (up 9.4%) and fixed lending commitments (up 5.6%).

In trend terms, the value of total personal finance fell 0.6% in October 2007. The trend series decreased in fixed lending commitments (down 0.6%) and revolving credit commitments (down 0.6%).

In original terms, fixed lending commitments increased by $502m (up 18.4%) in October 2007 compared with September 2007.

Movements in the original series contributing to this decrease were:

• Other, up $141m (21.7%)
• Total Motor Vehicles, $109m (14.2%)
• Individual Residential Blocks of Land, $94m (22.9%)

The trend series for the value of total commercial finance commitments remained virtually unchanged in October 2007. This was due to a fall in fixed lending commitments (down 0.4%) offsetting a rise in revolving credit commitments (up 0.7%).

The value of purchases of dwellings by individuals for rent or resale (seasonally adjusted) fell 0.1% in October 2007, after a decrease of 2.3% in September 2007. The trend series fell 2.0% in October 2007.

PURCHASE OF DWELLINGS BY INDIVIDUALS FOR RENT OR RESALE