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5671.0 - Lending Finance, Australia, Jul 2005  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 09/09/2005   
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JULY KEY FIGURES

Jun 2005
Jul 2005
Jun 2005 to Jul 2005
$m
$m
% change

TREND ESTIMATES
Housing finance for owner occupation
11 690
11 683
-0.1
Personal finance
5 953
5 933
-0.3
Commercial finance
26 012
26 221
0.8
Lease finance
518
511
-1.3
SEASONALLY ADJUSTED ESTIMATES
Housing finance for owner occupation
11 664
11 704
0.3
Personal finance
5 972
5 957
-0.2
Commercial finance
26 280
26 099
-0.7
Lease finance
480
515
7.2

Personal finance
Graph: Personal finance

Commercial finance
Graph: Commercial finance



JULY KEY POINTS


HOUSING FINANCE FOR OWNER OCCUPATION

  • The total value of owner-occupied housing commitments excluding alterations and additions increased by 0.3% (seasonally adjusted) in July 2005. The trend series decreased by 0.1%.


PERSONAL FINANCE
  • The seasonally adjusted series for total personal finance commitments fell by 0.2% in July 2005. This reduction was mainly due to a decrease in fixed lending commitments (down 2.1%) more than offsetting an increase in revolving credit commitments (up 1.2%).
  • The total personal finance trend series fell by 0.3% in July 2005. The trend for fixed lending decreased by 0.8%, while revolving credit remained virtually unchanged.


COMMERCIAL FINANCE
  • The seasonally adjusted series for total commercial finance decreased by 0.7% in July 2005. A decrease in revolving credit (down 15.3%) more than offset the increase in the fixed lending series (up 8.4%).
  • The purchase of dwellings by individuals for rent or resale (seasonally adjusted) series fell by 4.8% in July 2005, after an increase of 2.2% in June 2005.
  • The trend series for total commercial finance rose by 0.8% in July 2005. Revolving credit rose by 0.4%, while fixed lending increased by 1.0%.


LEASE FINANCE
  • Lease finance (seasonally adjusted) increased by 7.2% in July 2005, following a fall of 11.2% in June 2005.
  • The lease finance trend fell by 1.3% in July 2005, the fourth consecutive monthly decrease and the seventh decrease in the past eight months.


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 Michael Abbondante on Canberra (02) 6252 6707.



SUMMARY OF FINDINGS


HOUSING FINANCE FOR OWNER OCCUPATION

The total value of commitments excluding alterations and additions increased by 0.3% (seasonally adjusted) in July 2005. The trend series decreased by 0.1%, the second consecutive monthly decrease following a run of increases starting in April 2004.


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



PERSONAL FINANCE

In seasonally adjusted terms, total personal finance fell by 0.2% in July 2005. This reduction was due to the decrease in fixed lending commitments (down 2.1%) more than offsetting an increase in revolving credit commitments (up 1.2%).


The total personal finance commitments trend series fell by 0.3% in July 2005, continuing a run of decreases since November 2003 for all but one month (October 2004). Fixed lending decreased by 0.8%, while revolving credit remained virtually unchanged.


In original terms, fixed lending commitments decreased by $283m (down 10.2%) in July 2005. Movements in the original series contributing to this decrease were:

  • Total motor vehicles, down $73m (-8.5%), compared with an average June to July increase of 3.8% over the previous three years,
  • Refinancing, down $61m (-12.0%), compared with an average June to July increase of 2.8% over the previous three years.


COMMERCIAL FINANCE

Total commercial finance (seasonally adjusted) decreased by 0.7% in July 2005. This overall decrease was driven by a decrease in revolving credit (down 15.3%) more than offsetting an increase in fixed lending series (up 8.4%).


The trend series for total commercial finance rose by 0.8% in July 2005, the fifth consecutive monthly increase. Revolving credit rose by 0.4%, while fixed lending increased by 1.0%.


The purchase of dwellings by individuals for rent or resale (seasonally adjusted) series fell by 4.8% in July 2005, after an increase of 2.2% in June 2005. The trend series fell by 1.7% in July 2005, the fifth consecutive monthly decrease.

PURCHASE OF DWELLINGS BY INDIVIDUALS FOR RENT OR RESALE
Graph: PURCHASE OF DWELLINGS BY INDIVIDUALS FOR RENT OR RESALE




LEASE FINANCE

Lease finance (seasonally adjusted) increased by 7.2% in July 2005, following a fall of 11.2% in June 2005. The lease finance trend fell by 1.3% in July 2005, the fourth consecutive monthly decrease and the seventh decrease in the past eight months.



ADDITIONAL TABLES ON AUSSTATS


TABLES AVAILABLE ON AUSSTATS

Additional tables are available from the AusStats service on <http://www.abs.gov.au> by selecting Time Series Spreadsheets and then Finance.


Tables available are:

  • longer time series of tables in this publication
  • the following tables
      C1a. Commercial finance commitments (original, seasonally adjusted, trend)
      C1b. Commercial finance commitments, fixed loans and revolving credit
      C1c. Commercial finance commitments, fixed loans and revolving credit by lender
      C1d. Commercial finance commitments, fixed loans by industry
      C1e. Commercial finance commitments, revolving credit by industry
      C2 to C9. Commercial finance commitments, fixed loans and revolving credit by state and territory
      L1a. Lease finance commitments, summary (original, seasonally adjusted, trend)
      L1b. Lease finance commitments by purpose
      L1c. Lease finance commitments by purpose and lender
      L1d. Lease finance commitments by industry
      L2 to L9. Lease finance commitments by purpose and state and territory
      OL1b. Operating lease finance commitments by purpose
      OL1c. Operating lease finance commitments by lender
      OL1d. Operating lease finance commitments by industry
      OL2 to OL9. Operating lease finance commitments by purpose and state and territory
      P1a. Personal finance commitments, summary (original, seasonally adjusted, trend)
      P1b. Personal finance commitments, fixed loans and revolving credit
      P1c. Personal finance commitments, fixed loans and revolving credit by lender
      P2 to P9. Personal finance commitments, fixed loans and revolving credit by state and territory
      13 Lending Finance Seasonal Factors, By Purpose and Lender: Australia, January 1985 to July 2006

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