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FEBRUARY KEY FIGURES

		Jan 2004	Feb 2004	Jan 2004 to Feb 2004
		$m	$m	% change
TREND ESTIMATES
	Housing finance for owner occupation	10,218	9,896	-3.1
	Personal finance	6,720	6,665	-0.8
	Commercial finance	24,307	23,582	-3.0
	Lease finance	530	510	-3.7
SEASONALLY ADJUSTED ESTIMATES
	Housing finance for owner occupation	9,860	9,749	-1.1
	Personal finance	6,675	6,587	-1.3
	Commercial finance	22,629	22,292	-1.5
	Lease finance	465	522	12.3

Personal finance

Commercial finance

FEBRUARY KEY POINTS


HOUSING FINANCE FOR OWNER OCCUPATION

• The total value of owner-occupied housing commitments decreased by 1.1% (seasonally adjusted) in February 2004. The trend series decreased by 3.1%.

• The seasonally adjusted series for total personal finance commitments fell by 1.3% in February 2004. The fixed lending series increased by 2.6%, while revolving credit commitments decreased by 4.0%.
• The total personal finance trend series fell by 0.8% in February 2004, the third consecutive fall.

• The total commercial finance series (seasonally adjusted) fell by 1.5% in February 2004. In particular, revolving credit commitments fell by 8.4% and fixed lending commitments rose by 2.3%.
• The purchase of dwellings by individuals for rent and resale (seasonally adjusted) decreased by 3.7% in February 2004, the fourth consecutive monthly decrease.
• The trend series for total commercial finance decreased by 3.0% in February 2004. Decreases were recorded in both fixed lending (down 2.3%) and revolving credit (down 4.3%).

• Lease finance (seasonally adjusted) increased by 12.3% in February 2004, following an 11.4% fall in the previous month.
• The lease finance trend fell by 3.7% in February 2004.

HOUSING FINANCE

From the March 2004 issue the Housing Finance for Owner Occupation publication (ABS cat. no. 5609.0) will be renamed Housing Finance, Australia and will include two additional tables:

• a new table on the Value of Finance Commitments for Housing. This new table will be the same in content and format as table 8 (Finance Commitments for Housing) contained in this publication. This will ensure that information on lending commitments for owner occupation housing and investment housing are released on the same date;
• a new table of home loan outstandings classified by lender. This new table will contain monthly data from March 2002 for Authorised Deposit-taking Institutions (ADIs) classified by type of lender and split by owner-occupation housing and investment housing. For other lending institutions, total housing loan outstandings will be provided on a quarterly basis to provide a complete picture of all financial institutions providing finance for the purpose of housing.

Note that this publication will remain unchanged in content and format. Queries regarding the changes may be directed to Darren Page on 02 6252 6731 or email darren.page@abs.gov.au.

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.

LENDING FINANCE SUMMARY OF FINDINGS


HOUSING FINANCE FOR OWNER OCCUPATION

The total value of commitments excluding alterations and additions (seasonally adjusted) decreased by 1.1% in February 2004, after a decrease of 6.2% in January 2004. The trend series decreased by 3.1%.

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

PERSONAL FINANCE

The seasonally adjusted series for total personal finance fell by 1.3%, to $6 587 million in February 2004, the fourth successive monthly fall after increases in the previous six months. Fixed lending increased by 2.6%, while revolving credit commitments decreased by 4.0%.

The total personal finance commitments trend series decreased by 0.8% in February 2004. The trend for revolving credit commitments decreased by 0.3%, while the fixed lending trend fell for a fourth successive month (down 1.5%).

In original terms, fixed lending commitments increased by 10.2%, to $2 707 million in February 2004. All fixed lending purposes rose in February.

COMMERCIAL FINANCE

The seasonally adjusted total commercial finance series decreased by 1.5% in February 2004. In particular, revolving credit commitments fell by 8.4% and fixed lending commitments rose by 2.3%.

The total commercial finance trend estimate decreased by 3.0% in February 2004. The fixed lending trend and the revolving credit trend fell by 2.3% and 4.3% respectively.

The seasonally adjusted purchase of dwellings for rent or resale by individuals (investment housing) series decreased to $4 500 million (down 3.7%) in February 2004, the fourth consecutive monthly decrease following rises in the previous six months. The investment housing trend series fell by 5.2% in February.

Purchase of Dwellings by Individuals for Rent or Resale