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5671.0 - Lending Finance, Australia, Dec 2005  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 14/02/2006   
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DECEMBER KEY FIGURES

Nov 2005
Dec 2005
Nov 2005 to Dec 2005
$m
$m
% change

TREND ESTIMATES
Housing finance for owner occupation
12 823
12 984
1.3
Personal finance
5 886
5 874
-0.2
Commercial finance
29 806
31 048
4.2
Lease finance
546
553
1.2
SEASONALLY ADJUSTED ESTIMATES
Housing finance for owner occupation
12 842
12 980
1.1
Personal finance
5 843
5 953
1.9
Commercial finance
32 383
31 508
-2.7
Lease finance
532
562
5.6

Personal finance
Graph: PERSONAL FINANCE

Commercial finance
Graph: COMMERCIAL FINANCE



DECEMBER KEY POINTS


HOUSING FINANCE FOR OWNER OCCUPATION

DECEMBER 2005 COMPARED WITH NOVEMBER 2005:

  • The total value of owner-occupied housing commitments excluding alterations and additions increased by 1.1% (seasonally adjusted), while the trend series rose 1.3%.


PERSONAL FINANCE

DECEMBER 2005 COMPARED WITH NOVEMBER 2005:
  • The seasonally adjusted series for the value of total personal finance commitments rose by 1.9%. This increase was due to a rise in fixed lending commitments (up 4.2%) more than offsetting a fall in revolving credit commitments (down 0.1%).
  • The trend series for the value of total personal finance commitments fell by 0.2%. This decrease was due to a fall in revolving credit commitments (down 1.5%) more than offsetting an increase in fixed lending commitments (up 1.4%).


COMMERCIAL FINANCE

DECEMBER 2005 COMPARED WITH NOVEMBER 2005:
  • The seasonally adjusted series for the value of total commercial finance commitments fell by 2.7%. A strong decrease in fixed lending commitments (down 10.3%) more than offset a rise in revolving credit commitments (up 15.4%).
  • The trend series for the value of total commercial finance commitments rose by 4.2%. Fixed lending commitments increased 4.8%, while revolving credit rose by 3.0%.


LEASE FINANCE

DECEMBER 2005 COMPARED WITH NOVEMBER 2005:
  • Lease finance commitments (seasonally adjusted) rose by 5.6% after a revised fall of 0.4% was recorded for November. The lease finance trend series rose by 1.2%, the sixth consecutive monthly increase.


NOTES

FORTHCOMING ISSUES

ISSUE Release Date
January 2006 14 March 2006
February 2006 11 April 2006
March 2006 16 May 2006
April 2006 9 June 2006
May 2006 12 July 2006
June 2006 11 August 2006



CHANGES IN THIS ISSUE

Revisions to previously provided estimates from some lenders resulted in significant revisions to fixed lending commitments for Personal Finance in November 2005. This affects published estimates for all states and territories and estimates for banks.



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 1.1% (seasonally adjusted) in December 2005 compared with November 2005, 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 1.9% in December 2005 compared with November 2005. Fixed lending rose by 4.2%, while revolving credit fell by 0.1%.


In trend terms, the value of total personal finance commitments fell by 0.2% in December 2005 compared with November 2005, the thirteenth consecutive monthly decrease. The fall was mainly due to the fall in revolving credit commitments (down 1.5%). Fixed lending commitments increased by 1.4% in December, following revised trend growth over the previous four months. This reflects revised seasonally adjusted growth in November and the strength in the seasonally adjusted series in December.



COMMERCIAL FINANCE

The volatile seasonally adjusted series for the value of total commercial finance commitments fell by 2.7% in December 2005 compared with November 2005, following a rise of 16.7% in November. The decrease was mainly due to the fall in fixed lending commitments (down 10.3%), after a strong increase of 31.0% in November. Revolving credit commitments increased by 15.4%. The strength in revolving credit commitments was mainly due to commitments to the finance and insurance industry, which contributed $1,903 million to the $3,839 million increase in total revolving credit commitments (in original terms).


This slight decrease in the seasonally adjusted commercial finance series resulted in a slight easing of the strong growth in the trend series for commercial finance commitments (up 4.2% in December 2005 compared to November 2005). Strong growth was recorded for both fixed lending commitments (up 4.8%) and revolving credit commitments (up 3.0%).


The value of purchase of dwellings by individuals for rent or resale (seasonally adjusted) series rose by 2.3% in December 2005 compared with November 2005, after a fall of 3.4% in November 2005. The trend series rose by 1.7%, the fifth consecutive monthly increase.

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 5.6% in December 2005 compared with November 2005. The lease finance trend rose by 1.2%, the sixth consecutive monthly increase.



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 December 2006

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