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5671.0 - Lending Finance, Australia, Jul 2006  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 11/09/2006   
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JULY KEY FIGURES

Jun 2006
Jul 2006
Jun 2006 to Jul 2006
$m
$m
% change

TREND ESTIMATES
Housing finance for owner occupation
13 970
14 165
1.4
Personal finance
6 891
6 892
-
Commercial finance
31 471
31 394
-0.2
Lease finance
541
523
-3.3
SEASONALLY ADJUSTED ESTIMATES
Housing finance for owner occupation
14 032
14 210
1.3
Personal finance
6 935
6 679
-3.7
Commercial finance
32 330
31 228
-3.4
Lease finance
553
519
-6.1

- nil or rounded to zero (including null cells)

Personal finance
Graph: PERSONAL FINANCE

Commercial finance
Graph: COMMERCIAL FINANCE



JULY KEY POINTS


HOUSING FINANCE FOR OWNER OCCUPATION

July 2006 COMPARED WITH June 2006:

  • The total value of owner-occupied housing commitments excluding alterations and additions increased by 1.3% (seasonally adjusted), while the trend series rose 1.4%.


PERSONAL FINANCE

July 2006 COMPARED WITH June 2006:
  • The seasonally adjusted series for the value of total personal finance commitments fell by 3.7%. This decrease was due to decreases in revolving credit commitments (down 3.4%) and fixed lending commitments (down 4.1%).
  • The trend series for the value of total personal finance remained virtually unchanged with an increase in fixed lending (up 1.5%), offset by a fall in revolving credit (down 1.2%).


COMMERCIAL FINANCE

July 2006 COMPARED WITH June 2006:
  • The seasonally adjusted series for the value of total commercial finance commitments fell by 3.4% on the downwardly revised June estimate. This decrease was due to falls in both fixed lending commitments (down 5.0%) and revolving credit commitments (down 0.1%).
  • The trend series for the value of total commercial finance commitments fell by 0.2%.


LEASE FINANCE

July 2006 COMPARED WITH June 2006:
  • Lease finance commitments (seasonally adjusted) decreased by 6.1%. The lease finance trend series fell by 3.3%.


NOTES

FORTHCOMING ISSUES

ISSUE Release Date
August 2006 13 October 2006
September 2006 13 November 2006
October 2006 12 December 2006
November 2006 17 January 2007
December 2006 13 February 2007
January 2007 14 March 2007



CHANGES IN THIS ISSUE

There are no significant changes to this issue.



CHANGES IN FORTHCOMING ISSUE

Changes in the format of the Time Series Spreadsheets associated with this publication will be implemented in the August edition, scheduled for release on 13 October 2006. For information on these changes refer to the Information paper: Changes to Time Series Spreadsheets associated with the publication Lending Finance, Australia (Cat No. 5671.0.55.001) released on the ABS web site on 11 September 2006.



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 July 2007.


SUMMARY OF FINDINGS


HOUSING FINANCE FOR OWNER OCCUPATION

The total value of owner-occupied housing commitments excluding alterations and additions increased by 1.3% (seasonally adjusted), while the trend series rose 1.4%.


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 fell by 3.7% in July 2006 compared with June 2006. This fall was due to decreases in revolving credit commitments (down 3.4%) and fixed lending commitments (down 4.1%).


In trend terms, the value of total personal finance remained virtually unchanged in July 2006. The trend series for fixed lending commitments increased by 1.5%, while revolving credit commitments fell 1.2%.


In original terms, fixed lending commitments decreased by $550m (down 16%) in July 2006 compared with June 2006.


Movements in the original series contributing to this increase were:

  • Refinancing, down $262m (-27.3%), compared with an average June to July decrease of 2.3% over the previous three years; and
  • "Other", down $98m (-12.1%), compared with an average June to July decrease of 4.4%.


COMMERCIAL FINANCE

The seasonally adjusted series for the value of total commercial finance commitments fell by 3.4% in July 2006 compared with June 2006. The decrease was due to decreases in both fixed lending commitments (down 5.0%) and revolving credit commitments (down 0.1%).


The trend series for commercial finance commitments decreased 0.2% in July 2006. A decrease was recorded for fixed lending commitments (down 0.8%), while revolving credit commitments rose (up 1.0%).


The value of purchases of dwellings by individuals for rent or resale (seasonally adjusted) fell by 10.5% in July 2006, after an increase of 9.1% in June 2006. The trend series rose by 1.7% in July 2006.

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) decreased by 6.1%. The trend series for lease finance commitments fell by 3.3%.

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