5671.0 - Lending Finance, Australia, Jan 2006

ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 14/03/2006

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Main Features
About this Release

JANUARY KEY FIGURES

		Dec 2005	Jan 2006	Dec 2005 to Jan 2006
		$m	$m	% change

TREND ESTIMATES
	Housing finance for owner occupation	12 866	12 959	0.7
	Personal finance	6 066	6 142	1.3
	Commercial finance	31 340	32 421	3.4
	Lease finance	624	660	5.8
SEASONALLY ADJUSTED ESTIMATES
	Housing finance for owner occupation	12 946	12 802	-1.1
	Personal finance	6 123	6 345	3.6
	Commercial finance	31 801	31 973	0.5
	Lease finance	566	799	41.2

Personal finance
Graph: PERSONAL FINANCE

Commercial finance
Graph: COMMERCIAL FINANCE

JANUARY KEY POINTS

HOUSING FINANCE FOR OWNER OCCUPATION

JANUARY 2006 COMPARED WITH DECEMBER 2005:

The total value of owner-occupied housing commitments excluding alterations and additions decreased by 1.1% (seasonally adjusted), while the trend series rose 0.7%.

PERSONAL FINANCE

JANUARY 2006 COMPARED WITH DECEMBER 2005:

The seasonally adjusted series for the value of total personal finance commitments rose by 3.6%. This increase was due to increases in both revolving credit commitments (up 6.5%) and fixed lending commitments (up 0.3%).
The trend series for the value of total personal finance commitments rose by 1.3% due to increases in both fixed lending (up 1.4%) and revolving credit commitments (1.1%).

COMMERCIAL FINANCE

JANUARY 2006 COMPARED WITH DECEMBER 2005:

The seasonally adjusted series for the value of total commercial finance commitments rose by 0.5%. An increase in fixed lending commitments (up 2.4%) more than offset a fall in revolving credit commitments (down 3.0%).
The trend series for the value of total commercial finance commitments rose by 3.4%. Fixed lending commitments increased 3.5%, while revolving credit rose by 3.4%.

LEASE FINANCE

JANUARY 2006 COMPARED WITH DECEMBER 2005:

Lease finance commitments (seasonally adjusted) increased strongly by 41.2%. The lease finance trend series rose by 5.8%.

NOTES

FORTHCOMING ISSUES

ISSUE	Release Date
February 2006	11 April 2006
March 2006	16 May 2006
April 2006	9 June 2006
May 2006	12 July 2006
June 2006	11 August 2006
July 2006	11 September 2006

CHANGES IN THIS ISSUE

Revisions to previously provided estimates from some lenders resulted in significant revisions to revolving credit commitments for Personal Finance in December 2005. This affects published estimates for all states and territories.

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 decreased by 1.1% (seasonally adjusted) in January 2006 compared with December 2005, while the trend series rose by 0.7%

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 3.6% in January 2006 compared with December 2005. Revolving credit rose by 6.5%, while fixed lending increased by 0.3%.

In trend terms, the value of total personal finance commitments rose by 1.3% in January 2006 following revised trend growth back to October 2005. This was driven by growth for revolving credit commitments (up 1.1% in January), which reflected revised seasonally adjusted growth in December (up 4.7%) and strong growth in the seasonally adjusted series in January (up 6.5%). Fixed lending commitments increased by 1.4% in January, the sixth consecutive monthly increase.

COMMERCIAL FINANCE

The seasonally adjusted series for the value of total commercial finance commitments rose by 0.5% in January 2006 compared with December 2005, following a revised fall of 1.5% in December 2005. The increase was mainly due to a rise in fixed lending commitments (up 2.4%), following a revised fall of 8.7% in December 2005. Revolving credit commitments fell by 3.0% following an increase of 15.7% in December 2005.

The trend series for commercial finance commitments increased by 3.4% in January 2006 compared with December 2005. Strong growth was recorded for both fixed lending commitments (up 3.5%) and revolving credit commitments (up 3.4%).

The value of purchase of dwellings by individuals for rent or resale (seasonally adjusted) series rose by 0.6% in January 2006 compared with December 2005, easing after an increase of 2.0% in December 2005. The trend series rose by 1.5%, the sixth 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 seasonally adjusted series for the value of total lease finance commitments increased strongly by 41.2% in January 2006 compared with December 2005. The increase was driven by a small number of high value finance lease commitments that were refinanced to lessees in the public administration industry in January 2006.

The increase in the seasonally adjusted lease finance series resulted in strong growth in the trend series for lease finance commitments (up 5.8% in January 2006 compared with December 2005), with large upward revisions to the previous four months estimates of trend growth.

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