5671.0 - Lending Finance, Australia, Feb 2005

ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 13/04/2005

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Main Features
About this Release

FEBRUARY KEY FIGURES

		Jan 2005	Feb 2005	Jan 2005 to Feb 2005
		$m	$m	% change

TREND ESTIMATES
	Housing finance for owner occupation	11,370	11,576	1.8
	Personal finance	6,241	6,219	-0.4
	Commercial finance	25,798	25,590	-0.8
	Lease finance	539	537	-0.5
SEASONALLY ADJUSTED ESTIMATES
	Housing finance for owner occupation	11,274	11,835	5.0
	Personal finance	6,276	6,153	-2.0
	Commercial finance	24,825	25,893	4.3
	Lease finance	530	553	4.4

Personal finance
Graph: Personal Finance

Commercial finance
Graph: Commercial Finance

FEBRUARY KEY POINTS

HOUSING FINANCE FOR OWNER OCCUPATION

The total value of owner-occupied housing commitments excluding alterations and additions increased by 5.0% (seasonally adjusted) in February 2005. The trend series increased by 1.8%.

PERSONAL FINANCE

The seasonally adjusted series for total personal finance commitments fell by 2.0% in February 2005. Fixed lending and revolving credit commitments decreased by 1.2% and 2.6%, respectively.
The total personal finance trend series fell by 0.4% in February 2005, the third consecutive month of slight decreases.

COMMERCIAL FINANCE

The total commercial finance series (seasonally adjusted) increased by 4.3% in February 2005. Fixed lending and revolving credit commitments increased by 1.6% and 9.4%, respectively.
The purchase of dwellings by individuals for rent or resale (seasonally adjusted) series rose by 2.2% in February 2005, after a fall of 1.2% in the previous month.
The trend series for total commercial finance fell by 0.8% in February 2005. This fall was due to decreases in both fixed lending (down 0.6%) and revolving credit (down 1.2%).

LEASE FINANCE

Lease finance (seasonally adjusted) increased by 4.4% in February 2005.
The lease finance trend fell by 0.5% in February 2005, the third decrease following six consecutive monthly increases.

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) increased by 5.0% in February 2005. The trend series increased by 1.8%.

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

PERSONAL FINANCE

In seasonally adjusted terms, total personal finance fell by 2.0% in February 2005. Fixed lending and revolving credit commitments decreased by 1.2% and 2.6%, respectively. The total personal finance trend series fell by 0.4%.

In original terms, fixed lending commitments increased by $303m (up 13.3%) in February 2005. Movements in the original series contributing to this increase were:

Other fixed lending, up $94m (17.4%) compared with an average January to February increase of 11.9% over the previous three years
Total motor vehicles, up $83m (11.0%) from the low January value, compared with an average January to February increase of 1.3% over the previous three years.

COMMERCIAL FINANCE

Total commercial finance (seasonally adjusted) increased to $25,893 million (up 4.3%) in February 2005. The increase in the seasonally adjusted series was driven by increases in fixed lending (up 1.6%) and revolving credit (up 9.4%).

The trend series for total commercial finance decreased by 0.8% in February 2005, the third monthly decrease following six consecutive monthly increases. Falls were recorded in fixed lending (down 0.6%) and revolving credit (down 1.2%).

The seasonally adjusted purchase of dwellings for rent or resale by individuals series increased to $4,914 million (up 2.2%) in February 2005. The trend series increased by 1.9% in February 2005, 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

Total lease finance (seasonally adjusted) increased to $553 million (up 4.4%) in February 2005. The lease finance trend series fell by 0.5% in February 2005, the third decrease following six consecutive monthly increases.

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