5671.0 - Lending Finance, Australia, Nov 2005

ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 19/01/2006

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Main Features
About this Release

NOVEMBER KEY FIGURES

		Oct 2005	Nov 2005	Oct 2005 to Nov 2005
		$m	$m	% change

TREND ESTIMATES
	Housing finance for owner occupation	12 574	12 769	1.5
	Personal finance	5 830	5 782	-0.8
	Commercial finance	28 111	28 991	3.1
	Lease finance	535	538	0.7
SEASONALLY ADJUSTED ESTIMATES
	Housing finance for owner occupation	12 697	12 843	1.2
	Personal finance	5 774	5 679	-1.6
	Commercial finance	27 466	32 142	17.0
	Lease finance	529	532	0.5

Personal finance
Graph: PERSONAL FINANCE

Commercial finance
Graph: COMMERCIAL FINANCE

NOVEMBER KEY POINTS

HOUSING FINANCE FOR OWNER OCCUPATION

NOVEMBER 2005 COMPARED WITH OCTOBER 2005:

The total value of owner-occupied housing commitments excluding alterations and additions increased by 1.2% (seasonally adjusted), while the trend series rose 1.5%.

PERSONAL FINANCE

NOVEMBER 2005 COMPARED WITH OCTOBER 2005:

The seasonally adjusted series for the value of total personal finance commitments fell by 1.6%. This decrease was due to falls in both fixed lending commitments (down 3.3%) and revolving credit commitments (down 0.3%).
The trend series for the value of total personal finance commitments fell by 0.8%. This decrease was due to decreases in both revolving credit commitments (down 1.4%) and fixed lending commitments (down 0.2%).

COMMERCIAL FINANCE

NOVEMBER 2005 COMPARED WITH OCTOBER 2005:

The volatile seasonally adjusted series for the value of total commercial finance commitments rose by 17.0%. A strong increase in fixed lending commitments (up 31.9%) more than offset a fall in revolving credit commitments (down 8.1%).
The trend series for the value of total commercial finance commitments rose by 3.1%. Fixed lending commitments increased 5.0%, while revolving credit fell by 0.5%.

LEASE FINANCE

NOVEMBER 2005 COMPARED WITH OCTOBER 2005:

Lease finance commitments (seasonally adjusted) rose by 0.5% after a fall of 4.7% in October. The lease finance trend series rose by 0.7%.

NOTES

FORTHCOMING ISSUES

ISSUE	Release Date
December 2005	14 February 2006
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

CHANGES IN THIS ISSUE

There are no significant changes in this issue.

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 1.2% (seasonally adjusted) in November 2005 compared with October 2005, while the trend series rose 1.5%

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 1.6% in November 2005 compared with October 2005. Fixed lending fell by 3.3%, while revolving credit fell by 0.3%.

In trend terms, the value of total personal finance commitments fell by 0.8% in November 2005 compared with October 2005, the twelth consecutive monthly decrease. The trend for revolving credit commitments fell 1.4%, while fixed lending commitments decreased by 0.2%.

In original terms, fixed lending commitments increased by $104m (up 4.1%) in November 2005 compared with October 2005. Key movements in the original series contributing to this increase were:

refinancing, up $65m (13.4%), compared with an average October to November increase of 5.4% over the previous three years; and
total motor vehicles, up $52m (6.9%), compared with an average October to November decrease of 3.8% over the previous three years.

COMMERCIAL FINANCE

The volatile seasonally adjusted series for the value of total commercial finance commitments rose strongly by 17.0% in November 2005 compared with October 2005. The increase was mostly due to the large jump in fixed lending commitments (up 31.9%), which was driven by a number of high value new fixed loan commitments to borrowers in the finance and insurance industry. Revolving credit commitments fell by 8.1%.

This large increase in the seasonally adjusted commercial finance series resulted in strong growth in the trend series for commercial finance commitments (up 3.1% in November 2005 compared to October 2005), with large upward revisions to the previous four months estimates of trend growth.

The value of purchase of dwellings by individuals for rent or resale (seasonally adjusted) series fell by 0.3% in November 2005 compared with October 2005, after a revised increase of 6.6% in October 2005. The trend series rose by 1.6%, the fourth 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 0.5% in November 2005 compared with October 2005. The lease finance trend rose by 0.7%, the fifth consecutive monthly increase.

ADDITIONAL TABLES ON AUSSTATS

TABLES AVAILABLE ON AUSSTATS

Additional tables are available from the AusStats service on <https://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