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5671.0 - Lending Finance, Australia, May 2006  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 12/07/2006   
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MAY KEY FIGURES

Apr 2006
May 2006
Apr 2006 to May 2006
$m
$m
% change

TREND ESTIMATES
Housing finance for owner occupation
13 443
13 622
1.3
Personal finance
6 913
7 056
2.1
Commercial finance
31 868
31 435
-1.4
Lease finance
587
575
-2.0
SEASONALLY ADJUSTED ESTIMATES
Housing finance for owner occupation
13 389
13 973
4.4
Personal finance
6 829
7 166
4.9
Commercial finance
26 969
33 048
22.5
Lease finance
540
602
11.5

Personal finance
Graph: PERSONAL FINANCE

Commercial finance
Graph: COMMERCIAL FINANCE



MAY KEY POINTS


HOUSING FINANCE FOR OWNER OCCUPATION

May 2006 COMPARED WITH April 2006:

  • The total value of owner-occupied housing commitments excluding alterations and additions increased by 4.4% (seasonally adjusted), while the trend series rose 1.3%.


PERSONAL FINANCE

May 2006 COMPARED WITH April 2006:
  • The seasonally adjusted series for the value of total personal finance commitments rose by 4.9%. This increase was due to increases in fixed lending commitments (up 8.7%) and revolving credit commitments (up 2.3%).
  • The trend series for the value of total personal finance commitments rose by 2.1% due to increases in both revolving credit commitments (up 2.9%) and fixed lending (up 0.9%).


COMMERCIAL FINANCE

May 2006 COMPARED WITH April 2006:
  • The seasonally adjusted series for the value of total commercial finance commitments rose by 22.5%. This increase was due to increases in both revolving credit commitments (up 32.4%) and fixed lending commitments (up 18.6%).
  • The trend series for the value of total commercial finance commitments fell by 1.4%. Revolving credit decreased by 2.9%, while fixed lending commitments fell by 0.7%.


LEASE FINANCE

May 2006 COMPARED WITH April 2006:
  • Lease finance commitments (seasonally adjusted) increased by 11.5%. The lease finance trend series fell by 2.0%.


NOTES

FORTHCOMING ISSUES

ISSUE Release Date
June 2006 11 August 2006
July 2006 11 September 2006
August 2006 13 October 2006
September 2006 13 November 2006
October 2006 12 December 2006
November 2006 17 January 2007



CHANGES IN THIS ISSUE

There are no significant changes to 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 COMMENTARY


TIME SERIES DATA


TIME SERIES DATA

Data available free on the ABS web site <http://www.abs.gov.au> include:

  • longer time series of tables in this publication, and
  • 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 May 2007.


SUMMARY OF FINDINGS


HOUSING FINANCE FOR OWNER OCCUPATION

The total value of owner occupied housing commitments excluding alterations and additions increased by 4.4% (seasonally adjusted) in May 2006 compared with April 2006, while the trend series rose 1.3%.


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 4.9% in May 2006 compared with April 2006. This rise was due to a increases in fixed lending commitments (up 8.7%) and revolving credit commitments (up 2.3%).


In trend terms, the value of total personal finance commitments rose by 2.1% in May 2006. The trend series for revolving credit commitments rose 2.9%, while fixed lending commitments increased by 0.9%.


In original terms, fixed lending commitments increased by $952m (up 40.4%) in May 2006 compared with April 2006. Refinancing increased $291m (56.3%) and debt consolidation increased $116m (up 46.0%), while new lending commitments increased $545m (34.4%) with:

  • Total motor vehicles, up $195m (30.7%),
  • Individual residential blocks of land, up $102m (30.0%),
  • Unsecured finance for owner occupation, up $13m (41.8%) and,
  • Other, up $235m (40.6%).


COMMERCIAL FINANCE

The seasonally adjusted series for the value of total commercial finance commitments rose by 22.5% in May 2006. The increase was due to the increases in both revolving credit commitments (up 32.4%) and fixed lending commitments (up 18.6%)


The trend series for commercial finance commitments decreased 1.4% in May 2006. A decrease was recorded for revolving credit commitments (down 2.9%), while fixed lending commitments fell 0.7%.


The value of purchases of dwellings by individuals for rent or resale (seasonally adjusted) rose by 7.0% in May 2006, after an increase of 0.8% in April 2006. The trend series rose by 1.4%.

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




LEASE FINANCE

The value of lease finance commitments (seasonally adjusted) increased by 11.5%. The trend series for lease finance commitments fell by 2.0%.

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