Financial market: Lending commitments to households
Lending commitments to households for housing shows the value of Australian housing finance, contributing to an understanding of the size of the market, growth in housing credit, assets of lending institutions, and household debt.
Lending commitments to households by significant lenders for the purposes of secured housing finance for owner occupation, purchase of investment dwellings and other personal finance are published in the Australian Bureau of Statistics (ABS) publication Lending to households and businesses, Australia. A lending commitment is defined as a firm offer to provide finance which has been accepted by the borrower, and exists once the loan application has been approved and a loan contract or letter of offer has been issued to the borrower. The effects of normal seasonal variation and ‘trading day effects’ have been removed in the seasonal adjustment figures. To create trend estimates, the seasonally adjusted series is smoothed to reduce the impact of the irregular component of the seasonally adjusted series.
See ABS 5601.0 – Lending to households and businesses, Australia (https://www.abs.gov.au/ausstats/[email protected]/mf/5601.0) for further information, including in-depth commentary and analysis, in particular the source data Quality Declaration. Source reference tables 10, 11, 13, 14 and 16.