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5671.0 - Lending Finance, Australia, Jul 2004  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 10/09/2004   
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JULY KEY FIGURES

Jun 2004
Jul 2004
Jun 2004 to Jul 2004
$m
$m
% change

TREND ESTIMATES
Housing finance for owner occupation
9,952
10,050
1.0
Personal finance
6,476
6,407
-1.1
Commercial finance
22,784
22,725
-0.3
Lease finance
466
454
-2.5
SEASONALLY ADJUSTED ESTIMATES
Housing finance for owner occupation
9,836
10,162
3.3
Personal finance
6,441
6,152
-4.5
Commercial finance
21,021
23,040
9.6
Lease finance
437
448
2.5

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 increased by 3.3% (seasonally adjusted) in July 2004. The trend series increased by 1.0%.


PERSONAL FINANCE
  • The seasonally adjusted series for total personal finance commitments fell by 4.5% in July 2004. Fixed lending increased by 4.0% and revolving credit commitments decreased by 10.9%.
  • The total personal finance trend series decreased by 1.1% in July 2004.


COMMERCIAL FINANCE
  • The total commercial finance series (seasonally adjusted) rose by 9.6% in July 2004, with increases in fixed lending (up 8.9%) and revolving credit (up 11.0%).
  • The purchase of dwellings by individuals for rent and resale (seasonally adjusted) series increased by 1.8% in July 2004, after three successive monthly falls.
  • The trend series for total commercial finance decreased by 0.3% in July 2004, the eighth consecutive monthly decrease. Fixed lending trend series rose by 0.2% and revolving credit trend series fell by 1.1%.


LEASE FINANCE
  • Lease finance (seasonally adjusted) increased by 2.5% in July 2004.
  • The lease finance trend fell by 2.5% in July 2004, the ninth successive monthly fall.


NOTES

FORTHCOMING ISSUES

ISSUERelease Date
August 200413 October 2004
September 200412 November 2004
October 200410 December 2004
November 200419 January 2005
December 200415 February 2005



REVISIONS IN THIS ISSUE

Incorporation of final survey data has resulted in significant revisions to owner occupied housing finance commitments for June 2004. The revisions were mainly to established dwelling finance.


In the May 2004 issue, estimated revisions were made for August 2003 to February 2004 for the value of owner occupied housing commitments by purpose of loan. Estimates have been replaced by final values in this issue.



INQUIRIES

For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Vincent Nguyen on Canberra (02) 6252 6398.



LENDING FINANCE SUMMARY OF FINDINGS


HOUSING FINANCE FOR OWNER OCCUPATION

The total value of commitments excluding alterations and additions (seasonally adjusted) increased by 3.3% in July 2004. The trend series increased by 1.0%.


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



PERSONAL FINANCE

In seasonally adjusted terms, total personal finance fell by 4.5% to $6,152 million in July 2004, the second successive monthly decrease. Revolving credit commitments decreased by 10.9% to their lowest level since November 2002. In original terms, revolving credit commitments decreased by 15.2% following a decrease in unsecured revolving credit (down 24.2%) in July.


In original terms, fixed lending commitments decreased by 2.8%, to $3,003 million in July 2004, with decreases in motor vehicles finance (down 1.8%), refinancing of personal finance (down 1.8%), individual residential blocks of land (down 4.1%) and other personal finance including alterations and additions (down 4.3%). New and used cars finance decreased by 1.6% and 0.8%, respectively.



COMMERCIAL FINANCE

Total commercial finance series (seasonally adjusted) increased by 9.6% to $23,040 million in July 2004. Revolving credit commitments increased by 11.0% and fixed lending commitments increased by 8.9%.


In original terms, fixed lending commitments decreased by 5.5%. Construction finance (down 23.7%) and purchase of real property (down 7.8%) were the main contributors to the decrease in commercial fixed lending. In contrast, wholesale finance increased by 37.6%. Revolving credit commitments (original) increased by 2.6%.


The seasonally adjusted purchase of dwellings for rent or resale by individuals series increased to $4,296 million (up 1.8%) in July 2004. The trend series fell by 1.9% in July 2004, the ninth consecutive monthly decline, but at a decelerating rate.

PURCHASE OF DWELLINGS BY INDIVIDUALS FOR RENT OR RESALE
Graph: Purchase of Dwellings by Individuals for Rent or Resale




LEASE FINANCE

Total lease finance series (seasonally adjusted) increased by 2.5% to $448 million in July 2004. In original terms, lease finance commitments decreased by 13.8%. There were decreases recorded in motor vehicles lease finance commitments series (down 13.7%) and in plant and equipment lease finance commitments series (down 13.9%).JULY KEY FIGURES

Jun 2004
Jul 2004
Jun 2004 to Jul 2004
$m
$m
% change

TREND ESTIMATES
Housing finance for owner occupation
9,952
10,050
1.0
Personal finance
6,476
6,407
-1.1
Commercial finance
22,784
22,725
-0.3
Lease finance
466
454
-2.5
SEASONALLY ADJUSTED ESTIMATES
Housing finance for owner occupation
9,836
10,162
3.3
Personal finance
6,441
6,152
-4.5
Commercial finance
21,021
23,040
9.6
Lease finance
437
448
2.5

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 increased by 3.3% (seasonally adjusted) in July 2004. The trend series increased by 1.0%.


PERSONAL FINANCE
  • The seasonally adjusted series for total personal finance commitments fell by 4.5% in July 2004. Fixed lending increased by 4.0% and revolving credit commitments decreased by 10.9%.
  • The total personal finance trend series decreased by 1.1% in July 2004.


COMMERCIAL FINANCE
  • The total commercial finance series (seasonally adjusted) rose by 9.6% in July 2004, with increases in fixed lending (up 8.9%) and revolving credit (up 11.0%).
  • The purchase of dwellings by individuals for rent and resale (seasonally adjusted) series increased by 1.8% in July 2004, after three successive monthly falls.
  • The trend series for total commercial finance decreased by 0.3% in July 2004, the eighth consecutive monthly decrease. Fixed lending trend series rose by 0.2% and revolving credit trend series fell by 1.1%.


LEASE FINANCE
  • Lease finance (seasonally adjusted) increased by 2.5% in July 2004.
  • The lease finance trend fell by 2.5% in July 2004, the ninth successive monthly fall.


NOTES

FORTHCOMING ISSUES

ISSUERelease Date
August 200413 October 2004
September 200412 November 2004
October 200410 December 2004
November 200419 January 2005
December 200415 February 2005



REVISIONS IN THIS ISSUE

Incorporation of final survey data has resulted in significant revisions to owner occupied housing finance commitments for June 2004. The revisions were mainly to established dwelling finance.


In the May 2004 issue, estimated revisions were made for August 2003 to February 2004 for the value of owner occupied housing commitments by purpose of loan. Estimates have been replaced by final values in this issue.



INQUIRIES

For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Vincent Nguyen on Canberra (02) 6252 6398.



LENDING FINANCE SUMMARY OF FINDINGS


HOUSING FINANCE FOR OWNER OCCUPATION

The total value of commitments excluding alterations and additions (seasonally adjusted) increased by 3.3% in July 2004. The trend series increased by 1.0%.


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



PERSONAL FINANCE

In seasonally adjusted terms, total personal finance fell by 4.5% to $6,152 million in July 2004, the second successive monthly decrease. Revolving credit commitments decreased by 10.9% to their lowest level since November 2002. In original terms, revolving credit commitments decreased by 15.2% following a decrease in unsecured revolving credit (down 24.2%) in July.


In original terms, fixed lending commitments decreased by 2.8%, to $3,003 million in July 2004, with decreases in motor vehicles finance (down 1.8%), refinancing of personal finance (down 1.8%), individual residential blocks of land (down 4.1%) and other personal finance including alterations and additions (down 4.3%). New and used cars finance decreased by 1.6% and 0.8%, respectively.



COMMERCIAL FINANCE

Total commercial finance series (seasonally adjusted) increased by 9.6% to $23,040 million in July 2004. Revolving credit commitments increased by 11.0% and fixed lending commitments increased by 8.9%.


In original terms, fixed lending commitments decreased by 5.5%. Construction finance (down 23.7%) and purchase of real property (down 7.8%) were the main contributors to the decrease in commercial fixed lending. In contrast, wholesale finance increased by 37.6%. Revolving credit commitments (original) increased by 2.6%.


The seasonally adjusted purchase of dwellings for rent or resale by individuals series increased to $4,296 million (up 1.8%) in July 2004. The trend series fell by 1.9% in July 2004, the ninth consecutive monthly decline, but at a decelerating rate.

PURCHASE OF DWELLINGS BY INDIVIDUALS FOR RENT OR RESALE
Graph: Purchase of Dwellings by Individuals for Rent or Resale




LEASE FINANCE

Total lease finance series (seasonally adjusted) increased by 2.5% to $448 million in July 2004. In original terms, lease finance commitments decreased by 13.8%. There were decreases recorded in motor vehicles lease finance commitments series (down 13.7%) and in plant and equipment lease finance commitments series (down 13.9%).

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