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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 by 0.9% (seasonally adjusted), while the trend series rose 0.8%.

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 0.4% in February 2007 compared with January 2007. This increase was due to a rise in both fixed lending commitments (up 0.9%) and revolving credit commitments (up 0.1%).

In trend terms, the value of total personal finance commitments rose 0.7% in February 2007. The trend series for revolving credit commitments rose 1.3%, while fixed lending commitments remained virtually unchanged for the third consecutive month.

In original terms, fixed lending commitments increased by $150m (up 5.6%) in February 2007 compared with January 2007.

Movements in the original series contributing to this increase were:

• Other, up $86m (12.5%),
• Individual residential blocks of land, up $49m (14.6%) and
• Debt consolidation, up $31m (11.4%).

The trend series for the value of total commercial finance commitments increased 3.1% in February 2007. This increase was due to a rise in both revolving credit commitments (up 5.7%) and fixed lending commitments (up 1.8%).

The value of purchases of dwellings by individuals for rent or resale (seasonally adjusted) rose by 6.2% in February 2007, after a revised increase of 5.9% in January 2007. The trend series rose 2.4% in February 2007.

PURCHASE OF DWELLINGS BY INDIVIDUALS FOR RENT OR RESALE