5671.0 - Lending Finance, Australia, Dec 2005

ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 14/02/2006

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About this Release

DECEMBER KEY FIGURES

		Nov 2005	Dec 2005	Nov 2005 to Dec 2005
		$m	$m	% change

TREND ESTIMATES
	Housing finance for owner occupation	12 823	12 984	1.3
	Personal finance	5 886	5 874	-0.2
	Commercial finance	29 806	31 048	4.2
	Lease finance	546	553	1.2
SEASONALLY ADJUSTED ESTIMATES
	Housing finance for owner occupation	12 842	12 980	1.1
	Personal finance	5 843	5 953	1.9
	Commercial finance	32 383	31 508	-2.7
	Lease finance	532	562	5.6

Personal finance
Graph: PERSONAL FINANCE

Commercial finance
Graph: COMMERCIAL FINANCE

DECEMBER KEY POINTS

HOUSING FINANCE FOR OWNER OCCUPATION

DECEMBER 2005 COMPARED WITH NOVEMBER 2005:

The total value of owner-occupied housing commitments excluding alterations and additions increased by 1.1% (seasonally adjusted), while the trend series rose 1.3%.

PERSONAL FINANCE

DECEMBER 2005 COMPARED WITH NOVEMBER 2005:

The seasonally adjusted series for the value of total personal finance commitments rose by 1.9%. This increase was due to a rise in fixed lending commitments (up 4.2%) more than offsetting a fall in revolving credit commitments (down 0.1%).
The trend series for the value of total personal finance commitments fell by 0.2%. This decrease was due to a fall in revolving credit commitments (down 1.5%) more than offsetting an increase in fixed lending commitments (up 1.4%).

COMMERCIAL FINANCE

DECEMBER 2005 COMPARED WITH NOVEMBER 2005:

The seasonally adjusted series for the value of total commercial finance commitments fell by 2.7%. A strong decrease in fixed lending commitments (down 10.3%) more than offset a rise in revolving credit commitments (up 15.4%).
The trend series for the value of total commercial finance commitments rose by 4.2%. Fixed lending commitments increased 4.8%, while revolving credit rose by 3.0%.

LEASE FINANCE

DECEMBER 2005 COMPARED WITH NOVEMBER 2005:

Lease finance commitments (seasonally adjusted) rose by 5.6% after a revised fall of 0.4% was recorded for November. The lease finance trend series rose by 1.2%, the sixth consecutive monthly increase.

NOTES

FORTHCOMING ISSUES

ISSUE	Release Date
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
June 2006	11 August 2006

CHANGES IN THIS ISSUE

Revisions to previously provided estimates from some lenders resulted in significant revisions to fixed lending commitments for Personal Finance in November 2005. This affects published estimates for all states and territories and estimates for banks.

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 1.1% (seasonally adjusted) in December 2005 compared with November 2005, while the trend series rose 1.3%

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 1.9% in December 2005 compared with November 2005. Fixed lending rose by 4.2%, while revolving credit fell by 0.1%.

In trend terms, the value of total personal finance commitments fell by 0.2% in December 2005 compared with November 2005, the thirteenth consecutive monthly decrease. The fall was mainly due to the fall in revolving credit commitments (down 1.5%). Fixed lending commitments increased by 1.4% in December, following revised trend growth over the previous four months. This reflects revised seasonally adjusted growth in November and the strength in the seasonally adjusted series in December.

COMMERCIAL FINANCE

The volatile seasonally adjusted series for the value of total commercial finance commitments fell by 2.7% in December 2005 compared with November 2005, following a rise of 16.7% in November. The decrease was mainly due to the fall in fixed lending commitments (down 10.3%), after a strong increase of 31.0% in November. Revolving credit commitments increased by 15.4%. The strength in revolving credit commitments was mainly due to commitments to the finance and insurance industry, which contributed $1,903 million to the $3,839 million increase in total revolving credit commitments (in original terms).

This slight decrease in the seasonally adjusted commercial finance series resulted in a slight easing of the strong growth in the trend series for commercial finance commitments (up 4.2% in December 2005 compared to November 2005). Strong growth was recorded for both fixed lending commitments (up 4.8%) and revolving credit commitments (up 3.0%).

The value of purchase of dwellings by individuals for rent or resale (seasonally adjusted) series rose by 2.3% in December 2005 compared with November 2005, after a fall of 3.4% in November 2005. The trend series rose by 1.7%, the fifth 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 5.6% in December 2005 compared with November 2005. The lease finance trend rose by 1.2%, the sixth 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