5671.0 - Lending Finance, Australia, May 2008

ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 14/07/2008

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Main Features Summary of findings TIME SERIES DATA About this Release	SUMMARY OF FINDINGS HOUSING FINANCE FOR OWNER OCCUPATION The trend series for the total value of owner occupied housing commitments excluding alterations and additions decreased 3.7% and the seasonally adjusted series fell 5.7%. For further information, please refer to Housing Finance, Australia (cat. no. 5609.0), which was released on 9 July 2008. PERSONAL FINANCE In trend terms, the value of total personal finance fell 2.5% in May 2008 compared with April 2008. This was due to a fall in both fixed lending commitments (down 3.2%) and revolving credit commitments (down 1.9%). In seasonally adjusted terms, the value of total personal finance commitments fell 7.8% in May 2008. This was due to a fall in both fixed lending commitments (down 11.9%) and revolving credit commitments (down 4.5%). In original terms, fixed lending commitments decreased by $169m (down 5.5%) in May 2008 compared with April 2008. Movements in the original series contributing to this decrease were: Refinancing, down $90m (13.1%) Individual Residential Blocks of Land, down $64m (16.0%) Debt Consolidation, down $15m (4.5%) COMMERCIAL FINANCE The trend series for the value of total commercial finance commitments fell 6.9% in May 2008 compared with April 2008. This was due to a fall in both fixed lending commitments (down 8.3%) and revolving credit commitments (down 4.2%). The seasonally adjusted series for the value of total commercial finance commitments rose 3.2% in May 2008. This increase was due to a rise in both revolving credit commitments (up 7.2%) and fixed lending commitments (up 1.1%). The value of purchases of dwellings by individuals for rent or resale (trend) fell 3.7% in May 2008, after a decrease of 4.1% in April 2008. The seasonally adjusted series fell by 7.9% in May 2008. PURCHASE OF DWELLINGS BY INDIVIDUALS FOR RENT OR RESALE LEASE FINANCE The value of lease finance commitments (trend) fell 1.6% in May 2008. The seasonally adjusted series for lease finance commitments fell 7.1%. Document Selection These documents will be presented in a new window.