5671.0 - Lending Finance, Australia, Jul 2005

ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 09/09/2005

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Main Features
About this Release

JULY KEY FIGURES

		Jun 2005	Jul 2005	Jun 2005 to Jul 2005
		$m	$m	% change

TREND ESTIMATES
	Housing finance for owner occupation	11 690	11 683	-0.1
	Personal finance	5 953	5 933	-0.3
	Commercial finance	26 012	26 221	0.8
	Lease finance	518	511	-1.3
SEASONALLY ADJUSTED ESTIMATES
	Housing finance for owner occupation	11 664	11 704	0.3
	Personal finance	5 972	5 957	-0.2
	Commercial finance	26 280	26 099	-0.7
	Lease finance	480	515	7.2

Personal finance
Graph: Personal finance

Commercial finance
Graph: Commercial finance

JULY KEY POINTS

HOUSING FINANCE FOR OWNER OCCUPATION

The total value of owner-occupied housing commitments excluding alterations and additions increased by 0.3% (seasonally adjusted) in July 2005. The trend series decreased by 0.1%.

PERSONAL FINANCE

The seasonally adjusted series for total personal finance commitments fell by 0.2% in July 2005. This reduction was mainly due to a decrease in fixed lending commitments (down 2.1%) more than offsetting an increase in revolving credit commitments (up 1.2%).
The total personal finance trend series fell by 0.3% in July 2005. The trend for fixed lending decreased by 0.8%, while revolving credit remained virtually unchanged.

COMMERCIAL FINANCE

The seasonally adjusted series for total commercial finance decreased by 0.7% in July 2005. A decrease in revolving credit (down 15.3%) more than offset the increase in the fixed lending series (up 8.4%).
The purchase of dwellings by individuals for rent or resale (seasonally adjusted) series fell by 4.8% in July 2005, after an increase of 2.2% in June 2005.
The trend series for total commercial finance rose by 0.8% in July 2005. Revolving credit rose by 0.4%, while fixed lending increased by 1.0%.

LEASE FINANCE

Lease finance (seasonally adjusted) increased by 7.2% in July 2005, following a fall of 11.2% in June 2005.
The lease finance trend fell by 1.3% in July 2005, the fourth consecutive monthly decrease and the seventh decrease in the past eight months.

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 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 0.3% (seasonally adjusted) in July 2005. The trend series decreased by 0.1%, the second consecutive monthly decrease following a run of increases starting in April 2004.

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

PERSONAL FINANCE

In seasonally adjusted terms, total personal finance fell by 0.2% in July 2005. This reduction was due to the decrease in fixed lending commitments (down 2.1%) more than offsetting an increase in revolving credit commitments (up 1.2%).

The total personal finance commitments trend series fell by 0.3% in July 2005, continuing a run of decreases since November 2003 for all but one month (October 2004). Fixed lending decreased by 0.8%, while revolving credit remained virtually unchanged.

In original terms, fixed lending commitments decreased by $283m (down 10.2%) in July 2005. Movements in the original series contributing to this decrease were:

Total motor vehicles, down $73m (-8.5%), compared with an average June to July increase of 3.8% over the previous three years,
Refinancing, down $61m (-12.0%), compared with an average June to July increase of 2.8% over the previous three years.

COMMERCIAL FINANCE

Total commercial finance (seasonally adjusted) decreased by 0.7% in July 2005. This overall decrease was driven by a decrease in revolving credit (down 15.3%) more than offsetting an increase in fixed lending series (up 8.4%).

The trend series for total commercial finance rose by 0.8% in July 2005, the fifth consecutive monthly increase. Revolving credit rose by 0.4%, while fixed lending increased by 1.0%.

The purchase of dwellings by individuals for rent or resale (seasonally adjusted) series fell by 4.8% in July 2005, after an increase of 2.2% in June 2005. The trend series fell by 1.7% in July 2005, the fifth consecutive monthly decrease.

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

LEASE FINANCE

Lease finance (seasonally adjusted) increased by 7.2% in July 2005, following a fall of 11.2% in June 2005. The lease finance trend fell by 1.3% in July 2005, the fourth consecutive monthly decrease and the seventh decrease in the past eight 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