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5671.0 - Lending Finance, Australia, Nov 2005  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 19/01/2006   
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NOVEMBER KEY FIGURES

Oct 2005
Nov 2005
Oct 2005 to Nov 2005
$m
$m
% change

TREND ESTIMATES
Housing finance for owner occupation
12 574
12 769
1.5
Personal finance
5 830
5 782
-0.8
Commercial finance
28 111
28 991
3.1
Lease finance
535
538
0.7
SEASONALLY ADJUSTED ESTIMATES
Housing finance for owner occupation
12 697
12 843
1.2
Personal finance
5 774
5 679
-1.6
Commercial finance
27 466
32 142
17.0
Lease finance
529
532
0.5

Personal finance
Graph: PERSONAL FINANCE

Commercial finance
Graph: COMMERCIAL FINANCE



NOVEMBER KEY POINTS


HOUSING FINANCE FOR OWNER OCCUPATION

NOVEMBER 2005 COMPARED WITH OCTOBER 2005:

  • The total value of owner-occupied housing commitments excluding alterations and additions increased by 1.2% (seasonally adjusted), while the trend series rose 1.5%.


PERSONAL FINANCE

NOVEMBER 2005 COMPARED WITH OCTOBER 2005:
  • The seasonally adjusted series for the value of total personal finance commitments fell by 1.6%. This decrease was due to falls in both fixed lending commitments (down 3.3%) and revolving credit commitments (down 0.3%).
  • The trend series for the value of total personal finance commitments fell by 0.8%. This decrease was due to decreases in both revolving credit commitments (down 1.4%) and fixed lending commitments (down 0.2%).


COMMERCIAL FINANCE

NOVEMBER 2005 COMPARED WITH OCTOBER 2005:
  • The volatile seasonally adjusted series for the value of total commercial finance commitments rose by 17.0%. A strong increase in fixed lending commitments (up 31.9%) more than offset a fall in revolving credit commitments (down 8.1%).
  • The trend series for the value of total commercial finance commitments rose by 3.1%. Fixed lending commitments increased 5.0%, while revolving credit fell by 0.5%.


LEASE FINANCE

NOVEMBER 2005 COMPARED WITH OCTOBER 2005:
  • Lease finance commitments (seasonally adjusted) rose by 0.5% after a fall of 4.7% in October. The lease finance trend series rose by 0.7%.


NOTES

FORTHCOMING ISSUES

ISSUE Release Date
December 2005 14 February 2006
January 2006 14 March 2006
February 2006 11 April 2006
March 2006 16 May 2006
April 2006 9 June 2006
May 2006 12 July 2006



CHANGES IN THIS ISSUE

There are no significant 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 1.2% (seasonally adjusted) in November 2005 compared with October 2005, while the trend series rose 1.5%


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



PERSONAL FINANCE

In seasonally adjusted terms, the value of total personal finance commitments fell by 1.6% in November 2005 compared with October 2005. Fixed lending fell by 3.3%, while revolving credit fell by 0.3%.


In trend terms, the value of total personal finance commitments fell by 0.8% in November 2005 compared with October 2005, the twelth consecutive monthly decrease. The trend for revolving credit commitments fell 1.4%, while fixed lending commitments decreased by 0.2%.


In original terms, fixed lending commitments increased by $104m (up 4.1%) in November 2005 compared with October 2005. Key movements in the original series contributing to this increase were:

  • refinancing, up $65m (13.4%), compared with an average October to November increase of 5.4% over the previous three years; and
  • total motor vehicles, up $52m (6.9%), compared with an average October to November decrease of 3.8% over the previous three years.


COMMERCIAL FINANCE

The volatile seasonally adjusted series for the value of total commercial finance commitments rose strongly by 17.0% in November 2005 compared with October 2005. The increase was mostly due to the large jump in fixed lending commitments (up 31.9%), which was driven by a number of high value new fixed loan commitments to borrowers in the finance and insurance industry. Revolving credit commitments fell by 8.1%.


This large increase in the seasonally adjusted commercial finance series resulted in strong growth in the trend series for commercial finance commitments (up 3.1% in November 2005 compared to October 2005), with large upward revisions to the previous four months estimates of trend growth.


The value of purchase of dwellings by individuals for rent or resale (seasonally adjusted) series fell by 0.3% in November 2005 compared with October 2005, after a revised increase of 6.6% in October 2005. The trend series rose by 1.6%, the fourth consecutive monthly increase.

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




LEASE FINANCE

The value of lease finance commitments (seasonally adjusted) increased by 0.5% in November 2005 compared with October 2005. The lease finance trend rose by 0.7%, the fifth consecutive monthly increase.



ADDITIONAL TABLES ON AUSSTATS


TABLES AVAILABLE ON AUSSTATS

Additional tables are available from the AusStats service on <http://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
      C1a. Commercial finance commitments (original, seasonally adjusted, trend)
      C1b. Commercial finance commitments, fixed loans and revolving credit
      C1c. Commercial finance commitments, fixed loans and revolving credit by lender
      C1d. Commercial finance commitments, fixed loans by industry
      C1e. Commercial finance commitments, revolving credit by industry
      C2 to C9. Commercial finance commitments, fixed loans and revolving credit by state and territory
      L1a. Lease finance commitments, summary (original, seasonally adjusted, trend)
      L1b. Lease finance commitments by purpose
      L1c. Lease finance commitments by purpose and lender
      L1d. Lease finance commitments by industry
      L2 to L9. Lease finance commitments by purpose and state and territory
      OL1b. Operating lease finance commitments by purpose
      OL1c. Operating lease finance commitments by lender
      OL1d. Operating lease finance commitments by industry
      OL2 to OL9. Operating lease finance commitments by purpose and state and territory
      P1a. Personal finance commitments, summary (original, seasonally adjusted, trend)
      P1b. Personal finance commitments, fixed loans and revolving credit
      P1c. Personal finance commitments, fixed loans and revolving credit by lender
      P2 to P9. Personal finance commitments, fixed loans and revolving credit by state and territory
      13 Lending Finance Seasonal Factors, By Purpose and Lender: Australia, January 1985 to November 2006

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