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5671.0 - Lending Finance, Australia, Aug 2006  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 13/10/2006   
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AUGUST KEY FIGURES

Jul 2006
Aug 2006
Jul 2006 to Aug 2006
$m
$m
% change

TREND ESTIMATES
Housing finance for owner occupation
14 049
14 143
0.7
Personal finance
6 790
6 745
-0.7
Commercial finance
31 951
32 136
0.6
Lease finance
521
521
0.0
SEASONALLY ADJUSTED ESTIMATES
Housing finance for owner occupation
14 140
13 956
-1.3
Personal finance
6 618
6 643
0.4
Commercial finance
31 367
33 115
5.6
Lease finance
513
503
-1.9

Personal finance
Graph: Personal finance

Commercial finance
Graph: Commercial finance



AUGUST KEY POINTS


HOUSING FINANCE FOR OWNER OCCUPATION

August 2006 COMPARED WITH July 2006:

  • The total value of owner-occupied housing commitments excluding alterations and additions decreased by 1.3% (seasonally adjusted), while the trend series rose 0.7%.


PERSONAL FINANCE

August 2006 COMPARED WITH July 2006:
  • The seasonally adjusted series for the value of total personal finance commitments rose by 0.4%. This increase was due to increases in fixed lending commitments (up 0.8%), while revolving credit commitments remained virtually unchanged.
  • The trend series for the value of total personal finance fell 0.7% due to a decrease in revolving credit commitments (down 1.9%), partially offset by an increase in fixed lending commitments (up 0.9%).


COMMERCIAL FINANCE

August 2006 COMPARED WITH July 2006:
  • The seasonally adjusted series for the value of total commercial finance commitments rose by 5.6%. This increase was due to an increase in fixed lending commitments (up 11.8%) more than offsetting a decrease in revolving credit commitments (down 6.9%).
  • The trend series for the value of total commercial finance commitments rose by 0.6%. Increases were recorded for both fixed lending commitments (up 0.7%) and revolving credit commitments (up 0.3%).


LEASE FINANCE

August 2006 COMPARED WITH July 2006:
  • Lease finance commitments (seasonally adjusted) decreased by 1.9%. The lease finance trend series remained virtually unchanged.


NOTES

FORTHCOMING ISSUES

ISSUE Release Date
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
February 2007 13 April 2007



CHANGES IN THIS ISSUE

Changes in the format of the Time Series Spreadsheets associated with this publication have been implemented in this edition (August 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.



TIME SERIES DATA


TIME SERIES SPREADSHEETS

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 August 2007.


SUMMARY OF FINDINGS


HOUSING FINANCE FOR OWNER OCCUPATION

The total value of owner-occupied housing commitments excluding alterations and additions decreased by 1.3% (seasonally adjusted), while the trend series rose 0.7%.


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 0.4% in August 2006 compared with July 2006. This rise was due to an increase in fixed lending commitments (up 0.8%) while revolving credit commitments remained virtually unchanged.


In trend terms, the value of total personal finance fell 0.7% in August 2006. The trend series for revolving credit commitments fell 1.9%, more than offsetting an increase in fixed lending commitments (up 0.9%).


In original terms, fixed lending commitments increased by $290m (up 10.1%) in August 2006 compared with July 2006. Movements contributing to this increase were:

  • Refinancing, up $88m (12.6%), compared with an average July to August decrease of 0.5% over the previous three years.
  • Total motor vehicles, up $81m (10.8%) compared with an average July to August increase of 1.9% over the previous three years.


COMMERCIAL FINANCE

The seasonally adjusted series for the value of total commercial finance commitments rose by 5.6% in August 2006. An increase was recorded for fixed lending commitments (up 11.8%), while revolving credit commitments fell (down 6.9%).


The trend series for commercial finance commitments increased 0.6% in August 2006. The increase was due to increases in both fixed lending commitments (up 0.7%), and revolving credit commitments (up 0.3%).


The value of purchases of dwellings by individuals for rent or resale (seasonally adjusted) rose by 0.4% in August 2006, after a decrease of 12.5% in July 2006. The trend series rose 0.3% in August 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 1.9%. The trend series for lease finance commitments remained virtually unchanged.

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