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5671.0 - Lending Finance, Australia, Jan 2004  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 16/03/2004   
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January Key Figures

Dec 2003
Jan 2004
Dec 2003 to Jan 2004
$m
$m
% change

TREND ESTIMATES
Housing finance for owner occupation
10,711
10,430
-2.6
Personal finance
6,828
6,802
-0.4
Commercial finance
25,430
25,145
-1.1
Lease finance
556
531
-4.4
SEASONALLY ADJUSTED ESTIMATES
Housing finance for owner occupation
10,590
9,848
-7.0
Personal finance
6,756
6,676
-1.2
Commercial finance
26,356
22,546
-14.5
Lease finance
529
464
-12.3

Personal finance
Graph - Personal Finance, Trend and Seasonally Adjusted

Commercial finance
Graph - Commercial Finance, Trend and Seasonally Adjusted



January Key Points


HOUSING FINANCE FOR OWNER OCCUPATION

  • The total value of owner-occupied housing commitments decreased by 7.0% (seasonally adjusted) in January 2004. The trend series decreased by 2.6%.


PERSONAL FINANCE
  • The seasonally adjusted series for total personal finance commitments fell by 1.2% in January 2004. The fixed lending series fell by 8.5%, while revolving credit commitments rose by 4.5%.
  • The total personal finance trend series fell by 0.4% in January 2004, the first decline in this series since September 2001.


COMMERCIAL FINANCE
  • The total commercial finance series (seasonally adjusted) fell by 14.5% in January 2004, mainly due to a decrease in fixed lending (down 20.6%).
  • The purchase of dwellings by individuals for rent and resale (seasonally adjusted) decreased by 15.5% in January 2004, the third monthly decrease following rises in the previous six months.
  • The trend series for total commercial finance decreased by 1.1% in January 2004. Decreases were recorded in both fixed lending (down 1.0%) and revolving credit (down 1.4%).


LEASE FINANCE
  • Lease finance (seasonally adjusted) decreased by 12.3% in January 2004, following a 15.5% fall in the previous month.
  • The lease finance trend fell by 4.4% in January 2004.


Notes

Changes in this issue

There are no changes in this issue.



Inquiries

For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Sarah Whelan on Canberra (02) 6252 5472.



Lending finance Summary of findings


HOUSING FINANCE FOR OWNER OCCUPATION

The total value of commitments excluding alterations and additions (seasonally adjusted) decreased by 7.0% in January 2004, after a decrease of 3.1% in December 2003. The trend series decreased by 2.6% in January.


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



PERSONAL FINANCE

The seasonally adjusted series for total personal finance fell by 1.2% to $6 676 million in January 2004, the third monthly fall after increases in the previous six months. Fixed lending decreased by 8.5%, while revolving credit commitments increased by 4.5%.


The total personal finance commitments trend series decreased by 0.4% in January 2004. The trend for revolving credit commitments increased by 0.3%, while the fixed lending trend fell for a third successive month (down 1.2%).


In original terms, fixed lending commitments decreased by 15.5% to $2 456 million in January 2004. All fixed lending purposes fell in January.



COMMERCIAL FINANCE

The seasonally adjusted total commercial finance series decreased by 14.5% in January 2004, due mainly to decrease in fixed lending (down 20.6%).


The total commercial finance trend estimate decreased by 1.1% in January 2004. The fixed lending trend and the revolving credit trend fell by 1.0% and 1.4% respectively.


The seasonally adjusted purchase of dwellings for rent or resale by individuals (investment housing) series decreased to $4 660 million (down 15.5%) in January 2004, the third monthly decrease following rises in the previous six months. The investment housing trend series fell by 3.5% in January.

Purchase of Dwellings by Individuals for Rent or Resale
Graph - Purchase of Dwellings by Individuals for Rent or Resale, Trend and Seasonally Adjusted




LEASE FINANCE

In seasonally adjusted terms, the lease finance series decreased by 12.3% to $464 million in January 2004, a second monthly decrease. The lease finance trend series fell for the third successive month, by 4.4%.

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