5671.0 - Lending Finance, Australia, Oct 2006

ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 12/12/2006

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Main Features
About this Release

OCTOBER KEY FIGURES

		Sep 2006	Oct 2006	Sep 2006 to Oct 2006
		$m	$m	% change

TREND ESTIMATES
	Housing finance for owner occupation	13 847	13 783	-0.5
	Personal finance	6 647	6 612	-0.5
	Commercial finance	34 339	35 476	3.3
	Lease finance	508	501	-1.3
SEASONALLY ADJUSTED ESTIMATES
	Housing finance for owner occupation	13 614	13 730	0.8
	Personal finance	6 591	6 676	1.3
	Commercial finance	38 242	37 284	-2.5
	Lease finance	504	515	2.2

Personal finance
Graph: Personal finance

Commercial finance
Graph: Commercial finance

OCTOBER KEY POINTS

HOUSING FINANCE FOR OWNER OCCUPATION

October 2006 COMPARED WITH September 2006:

The total value of owner-occupied housing commitments excluding alterations and additions increased by 0.8% (seasonally adjusted), while the trend series fell 0.5%.

PERSONAL FINANCE

October 2006 COMPARED WITH September 2006:

The seasonally adjusted series for the value of total personal finance commitments rose by 1.3%. This increase was due to a rise in revolving credit commitments (up 2.8%) more than offsetting a decrease in fixed lending commitments (down 0.6%).
The trend series for the value of total personal finance fell 0.5% due to decreases in both revolving credit commitments (down 0.4%) and fixed lending commitments (down 0.7%).

COMMERCIAL FINANCE

October 2006 COMPARED WITH September 2006:

The seasonally adjusted series for the value of total commercial finance commitments fell by 2.5%. This decrease was due to a fall in revolving credit commitments (down 14.8%) more than offsetting an increase in fixed lending commitments (up 6.8%).
The trend series for the value of total commercial finance commitments rose by 3.3%. Increases were recorded for both revolving credit commitments (up 6.5%) and fixed lending commitments (up 1.6%).

LEASE FINANCE

October 2006 COMPARED WITH September 2006:

Lease finance commitments (seasonally adjusted) increased by 2.2%. The lease finance trend series fell by 1.3%.

NOTES

FORTHCOMING ISSUES

ISSUE	Release Date
November 2006	17 January 2007
December 2006	13 February 2007
January 2007	14 March 2007
February 2007	13 April 2007
March 2007	15 May 2007
April 2007	12 June 2007

CHANGES IN THIS ISSUE

There are no significant changes to this issue.

CHANGES IN FORTHCOMING ISSUES

Data in this publication will undergo seasonal reanalysis prior to the November 2006 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.

TIME SERIES DATA

TIME SERIES SPREADSHEETS

Data available free on the ABS web site <https://www.abs.gov.au> include:

longer time series of tables in this publication, and
the following tables:

SUMMARY OF FINDINGS

HOUSING FINANCE FOR OWNER OCCUPATION

The total value of owner-occupied housing commitments excluding alterations and additions increased by 0.8% (seasonally adjusted), while the trend series fell 0.5%.
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 rose by 1.3% in October 2006 compared with September 2006. This increase was due to a rise in revolving credit commitments (up 2.8%), more than offsetting a fall in fixed lending commitments (down 0.6%).
In trend terms, the value of total personal finance fell 0.5% in October 2006. The trend series for revolving credit commitments fell 0.4%, while fixed lending commitments decreased 0.7%.
In original terms, fixed lending commitments increased by $93m (up 3.2%) in October 2006 compared with September 2006.
Movements in the original series contributing to this increase were:

Used motor vehicles and station wagons, up $26m (6.3%) compared with an average September to October decrease of 5.5% over the previous three years.
Debt consolidation, up $18m (6.0%) compared with an average September to October increase of 4.9% over the previous three years.

COMMERCIAL FINANCE

The seasonally adjusted series for the value of total commercial finance commitments fell by 2.5% in October 2006. The decrease was due to a fall in revolving credit commitments (down 14.8%) more than offsetting a rise in fixed lending commitments (up 6.8%).
The trend series for commercial finance commitments increased 3.3% in October 2006. An increase was recorded for both revolving credit commitments (up 6.5%), and fixed lending commitments (up 1.6%).
The value of purchases of dwellings by individuals for rent or resale (seasonally adjusted) rose by 7.2% in October 2006, after a revised decrease of 11.7% in September 2006. The trend series fell 2.9% in October 2006.

Graph: Puchase of Dwellings by Individuals for Rent or Resale

LEASE FINANCE

The value of lease finance commitments (seasonally adjusted) increased by 2.2%. The trend series for lease finance commitments fell by 1.3%.