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FORTHCOMING CHANGES

From December 2019, this publication will be based on a new, improved data collection, called the Economic and Financial Statistics (EFS) collection. To better reflect the new content, the publication will be renamed Lending Indicators, Australia (cat. no. 5601.0). The first issue of the new publication will contain October 2019 data and will be released on 17 December 2019.

An Information paper: Upcoming changes to Lending to Households and Businesses, Australia (cat. no. 5601.0.55.002) outlines the changes in more detail.

KEY POINTS

• In seasonally adjusted terms, new lending commitments to households rose 1.1% in September 2019, following a 3.8% rise in August.
• The rise in lending to households was driven by owner occupier dwellings excluding refinancing (up 3.2%) followed by personal finance excluding refinancing (up 7.7%). New lending commitments for investment dwellings excluding refinancing fell 4.0% in September 2019.
• In through-the-year terms, the value of new lending commitments was up 5.6% for owner occupier dwellings excluding refinancing and down 13.6% for investment dwellings excluding refinancing on September 2018 levels.
• In trend terms, new lending commitments for owner occupier dwellings excluding refinancing rose 2.5% and investment dwellings excluding refinancing rose 1.6% in September 2019.
• The number of lending commitments for owner occupier first home buyers fell 1.9%, while the number of lending commitments for non-first home buyers rose 5.6% in seasonally adjusted terms.
• Lending to households for refinancing of household loans fell 2.6% in seasonally adjusted terms. Refinancing of owner occupier dwellings was the largest contributor to the fall in September (down 3.5%), followed by refinancing of investment dwellings (down 0.9%) and refinancing of personal loans (down 0.5%).
• Personal finance excluding refinancing rose 7.7% in seasonally adjusted terms in September 2019 and was down 5.7% on September 2018.
• The value of lending commitments to businesses fell 0.9% in trend terms in September 2019 and was down 3.5% on September 2018.

			Value of loan commitments
			Value	Month Percent Change	Year Percent Change
			$m	%	%
Trend
Total lending			67 748	0.5	-2.7
	Lending to households(a)(b)		33 632	2.0	-1.9
		Lending to households for dwellings excluding refinancing(c)	18 640	2.3	-2.7
		Lending to households for personal finance excluding refinancing	4 976	1.0	-8.2
	Lending to businesses		34 116	-0.9	-3.5
Seasonally Adjusted
Total lending			71 291	9.8	1.4
	Lending to households(a)(b)		34 093	1.1	0.6
		Lending to households for dwellings excluding refinancing(c)	18 930	1.3	0.1
		Lending to households for personal finance excluding refinancing	5 117	7.7	-5.7
	Lending to businesses		37 198	19.1	2.2
(a) Includes alterations and additions and refinancing
(b) Components may not sum to total due to independent seasonal adjustment
(c) Excludes alterations and additions

Lending to Households, Value of commitments