5671.0 - Lending Finance, Australia, Aug 2005

ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 12/10/2005

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About this Release

AUGUST KEY FIGURES

		Jul 2005	Aug 2005	Jul 2005 to Aug 2005
		$m	$m	% change

TREND ESTIMATES
	Housing finance for owner occupation	11 740	11 744	-
	Personal finance	5 981	5 992	0.2
	Commercial finance	25 616	25 424	-0.8
	Lease finance	518	517	-0.3
SEASONALLY ADJUSTED ESTIMATES
	Housing finance for owner occupation	11 778	11 834	0.5
	Personal finance	5 977	6 062	1.4
	Commercial finance	25 849	24 463	-5.4
	Lease finance	520	534	2.7

- nil or rounded to zero (including null cells)

Personal finance
Graph: Personal finance

Commercial finance
Graph: Commercial finance

AUGUST KEY POINTS

HOUSING FINANCE FOR OWNER OCCUPATION

The total value of owner-occupied housing commitments excluding alterations and additions increased by 0.5% (seasonally adjusted) in August 2005, while the trend series remained virtually unchanged.

PERSONAL FINANCE

The seasonally adjusted series for total personal finance commitments rose by 1.4% in August 2005. Fixed lending rose by 2.3%, while revolving credit increased by 0.8%.
The total personal finance trend series rose by 0.2% in August 2005. This increase was mainly due to an increase in revolving credit commitments (up 1.0%) more than offsetting a decrease in fixed lending commitments (down 0.8%).

COMMERCIAL FINANCE

The seasonally adjusted series for total commercial finance decreased by 5.4% in August 2005. A decrease in the fixed lending series (down 8.6%) more than offset an increase in revolving credit (up 1.2%).
The purchase of dwellings by individuals for rent or resale (seasonally adjusted) series fell by 2.6% in August 2005, after a decrease of 4.2% in July 2005.
The trend series for total commercial finance fell by 0.8% in August 2005. Fixed lending fell by 0.9%, while revolving credit decreased by 0.5%.

LEASE FINANCE

Lease finance (seasonally adjusted) increased by 2.7% in August 2005, following a rise of 9.2% in July 2005, while the trend series fell by 0.3% in August 2005, the ninth consecutive monthly decrease.

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 0.5% (seasonally adjusted) in August 2005, while the trend series remained virtually unchanged.

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

PERSONAL FINANCE

In seasonally adjusted terms, total personal finance rose by 1.4% in August 2005. Fixed lending rose by 2.3%, while revolving credit increased by 0.8%.

The total personal finance commitments trend series rose by 0.2% in August 2005, the second consecutive increase following a run of decreases since November 2003 for all but one month (October 2004). The trend for revolving credit increased by 1.0% in August, while fixed lending commitments fell by 0.8%.

In original terms, fixed lending commitments increased by $225m (up 9.0%) in August 2005. Movements in the original series contributing to this decrease were:

Total motor vehicles, up $120m (15.3%), compared with an average July to August decrease of 4.8% over the previous three years,
Individual residential blocks of land, $52m (16.3%), compared with an average July to August decrease of 4.8% over the previous three years.

COMMERCIAL FINANCE

Total commercial finance (seasonally adjusted) decreased by 5.4% in August 2005. This overall decrease was driven by a decrease in fixed lending series (down 8.6%) more than offsetting an increase in revolving credit (up 1.2%).

The trend series for total commercial finance fell by 0.8% in August 2005, the third consecutive monthly decrease. Fixed lending fell by 0.9%, while revolving credit decreased by 0.5%.

The purchase of dwellings by individuals for rent or resale (seasonally adjusted) series fell by 2.6% in August 2005, after a decrease of 4.2% in July 2005. The trend series fell by 1.9% in August 2005, the sixth 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 2.7% in August 2005, following a rise of 9.2% in July 2005. The lease finance trend fell by 0.3% in August 2005, the ninth consecutive monthly decrease.

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