5671.0 - Lending Finance, Australia, Sep 2004

ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 12/11/2004

Page tools: Print

Print Page Print all pages in this product

Print All

Main Features
About this Release

SEPTEMBER KEY FIGURES

		Aug 2004	Sep 2004	Aug 2004 to Sep 2004
		$m	$m	% change

TREND ESTIMATES
	Housing finance for owner occupation	10,180	10,235	0.5
	Personal finance	6,272	6,201	-1.1
	Commercial finance	24,026	24,560	2.2
	Lease finance	515	534	3.7
SEASONALLY ADJUSTED ESTIMATES
	Housing finance for owner occupation	10,205	10,267	0.6
	Personal finance	6,103	6,371	4.4
	Commercial finance	23,287	27,368	17.5
	Lease finance	545	588	8.0

Personal finance
Graph: Personal finance

Commercial finance
Graph: Commercial finance

SEPTEMBER KEY POINTS

HOUSING FINANCE FOR OWNER OCCUPATION

The total value of owner-occupied housing commitments increased by 0.6% (seasonally adjusted) in September 2004. The trend series increased by 0.5%.

PERSONAL FINANCE

The seasonally adjusted series for total personal finance commitments rose by 4.4% in September 2004. Fixed lending and revolving credit commitments increased by 1.3% and 7.2%, respectively.
The total personal finance trend series decreased by 1.1% in September 2004, the eleventh successive monthly decrease but at a decreasing rate.

COMMERCIAL FINANCE

The total commercial finance series (seasonally adjusted) rose by 17.5% in September 2004, with fixed lending and revolving credit increasing by 2.5% and 45.4%, respectively.
The purchase of dwellings by individuals for rent or resale (seasonally adjusted) series rose by 5.7% in September 2004, after a fall of 3.1% in the previous month.
The trend series for total commercial finance increased by 2.2% in September 2004. The fixed lending trend series fell by 0.3% while the revolving credit trend series rose by 6.6%.

LEASE FINANCE

Lease finance (seasonally adjusted) increased by 8.0% in September 2004.
The lease finance trend rose by 3.7% in September 2004, the fourth month of small increases following eight successive monthly falls.

NOTES

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 Vincent Nguyen on Canberra (02) 6252 6398.

SUMMARY OF FINDINGS

HOUSING FINANCE FOR OWNER OCCUPATION

The total value of commitments excluding alterations and additions (seasonally adjusted) increased by 0.6% in September 2004. The trend series increased by 0.5%.

For further information, please refer to Housing Finance, Australia (cat. no. 5609.0).

PERSONAL FINANCE

In seasonally adjusted terms, total personal finance rose by 4.4% to $6,371 million in September 2004, after four successive monthly falls. In original terms, revolving credit commitments increased by 8.8% in September due to increases in both secured and unsecured revolving credit, by 7.7% and 10.3%, respectively.

In original terms, fixed lending commitments increased by 0.3%, to $2,919 million in September 2004. This was due mainly to increases in other fixed lending (up 6.8%) and debt consolidation (up 4.6%). Decreases were recorded in individual residential blocks of land (down 5.9%), total motor vehicles (down 2.2%), and refinancing of personal finance (down 1.4%).

COMMERCIAL FINANCE

Total commercial finance series (seasonally adjusted) increased by 17.5% to $27,368 million in September 2004. Revolving credit and fixed lending commitments increased by 45.4% and 2.5%, respectively.

In original terms, fixed lending commitments increased by 1.1%. Other fixed lending (up 15.0%) and purchase of real property (up 7.5%) were the main contributors to the increase in commercial fixed lending. In contrast, construction finance and refinancing decreased by 33.4% and 27.6%, respectively. Revolving credit commitments (original) increased by 45.7%.

The seasonally adjusted purchase of dwellings for rent or resale by individuals series increased to $4,465 million (up 5.7%) in September 2004. The trend series fell by 1.3% in September 2004, the eleventh consecutive monthly decline.

PURCHASE OF DWELLINGS BY INDIVIDUALS FOR RENT OR RESALE
Graph: PURCHASE OF DWELLINGS BY INDIVIDUALS FOR RENT OR RESALE

LEASE FINANCE

Total lease finance series (seasonally adjusted) increased by 8.0% to $588 million in September 2004, following a 14.9% increase in the previous month. The lease finance trend series grew by 3.7% in September 2004, driven by the strong growth in the seasonally adjusted series over the past three months.

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