5671.0 - Lending Finance, Australia, May 2005

ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 13/07/2005

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Main Features
About this Release

MAY KEY FIGURES

		Apr 2005	May 2005	Apr 2005 to May 2005
		$m	$m	% change

TREND ESTIMATES
	Housing finance for owner occupation	11,752	11,779	0.2
	Personal finance	5,992	5,952	-0.7
	Commercial finance	25,738	25,858	0.5
	Lease finance	549	556	1.2
SEASONALLY ADJUSTED ESTIMATES
	Housing finance for owner occupation	11,665	11,597	-0.6
	Personal finance	6,063	5,881	-3.0
	Commercial finance	23,433	27,238	16.2
	Lease finance	570	562	-1.5

Personal finance
Graph: 5671pf_ver1

Commercial finance
Graph: 5671_CF_ver1

MAY KEY POINTS

HOUSING FINANCE FOR OWNER OCCUPATION

The total value of owner-occupied housing commitments excluding alterations and additions decreased by 0.6% (seasonally adjusted) in May 2005. The trend series increased by 0.2%.

PERSONAL FINANCE

The seasonally adjusted series for total personal finance commitments fell by 3.0% in May 2005. This decrease was mainly due to the decrease in revolving credit commitments (down 5.0%), with a relatively smaller fall in fixed lending commitments (down 0.6%).
The total personal finance trend series fell by 0.7% in May 2005. The trend for fixed lending and revolving credit commitments decreased by 0.3% and 1.0%, respectively.

COMMERCIAL FINANCE

The seasonally adjusted series for total commercial finance increased by 16.2% in May 2005. The strong increase in the volatile revolving credit series (up 73.0%) was partially offset by the decrease in fixed lending (down 1.4%).
The purchase of dwellings by individuals for rent or resale (seasonally adjusted) series fell by 6.5% in May 2005, the third consecutive monthly decrease.
The trend series for total commercial finance rose by 0.5% in May 2005. Fixed lending rose by 1.5% while revolving credit fell by 1.5%.

LEASE FINANCE

Lease finance (seasonally adjusted) decreased by 1.5% in May 2005, after a rise of 11.2% in April.
The lease finance trend rose by 1.2% in May 2005, the fourth consecutive monthly increase following two monthly decreases.

NOTES

CHANGES IN THIS ISSUE

There are no 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) decreased by 0.6% in May 2005. The trend series increased by 0.2%.

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

PERSONAL FINANCE

In seasonally adjusted terms, total personal finance fell by 3.0% in May 2005. This decrease was mainly due to the decrease in revolving credit commitments (down 5.0%), with a relatively smaller fall in fixed lending commitments (down 0.6%).

The total personal finance commitments trend series fell by 0.7% in May 2005, the sixth consecutive monthly decrease. The revolving credit series decreased by 1.0% in May, while the fixed lending series fell by 0.3%.

COMMERCIAL FINANCE

Total commercial finance (seasonally adjusted) rose strongly by 16.2% in May 2005, after a 13.2% fall in April. The increase was mostly due to the large jump in revolving credit commitments (up 73.0% after a quiet April), which was driven by a number of high value new and increased revolving credit limits to borrowers in the finance and insurance industry. Fixed lending fell by 1.4%.

The trend series for total commercial finance increased by 0.5% in May 2005, the third consecutive monthly increase. This fall was due to the increase in fixed lending (up 1.5%) which was partly offset by the decrease in revolving credit (down 1.5%).

The seasonally adjusted purchase of dwellings for rent or resale by individuals series fell by 6.5% in May 2005. The trend series decreased by 1.8% in May 2005, the fourth consecutive monthly decrease.

Graph: PURCHASE OF DWELLINGS BY INDIVIDUALS FOR RENT OR RESALE

LEASE FINANCE

Total lease finance (seasonally adjusted) fell by 1.5% in May 2005. The lease finance trend series rose by 1.2%, the fourth 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