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5671.0 - Lending Finance, Australia, Aug 2007  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 15/10/2007   
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SUMMARY OF FINDINGS


HOUSING FINANCE FOR OWNER OCCUPATION

The total value of owner occupied housing commitments excluding alterations and additions increased 1.7% (seasonally adjusted), while the trend series rose 0.2%.


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 3.2% in August 2007 compared with July 2007. This decrease was due to a fall in both revolving credit commitments (down 5.7%) and fixed lending commitments (down 0.1%).


In trend terms, the value of total personal finance fell 0.2% in August 2007. The trend series decreased in fixed lending commitments (down 0.9%), while revolving credit commitments rose (up 0.4%).


In original terms, fixed lending commitments increased by $106m (up 3.5%) in August 2007 compared with July 2007.


Movements in the original series contributing to this increase were:

  • Refinancing, up $56m (8.7%)
  • Other, up $28m (3.8%)
  • Individual Residential Blocks of Land, up $27m (5.5%)


COMMERCIAL FINANCE

The seasonally adjusted series for the value of total commercial finance commitments rose by 16.0% in August 2007. This increase was due to a rise in both fixed lending commitments (up 22.1%) and revolving credit commitments (up 5.5%).


The trend series for the value of total commercial finance commitments rose 2.0% in August 2007. This was due to a rise in fixed lending commitments (up 4.1%), while revolving credit commitments fell (down 1.8%).


The value of purchases of dwellings by individuals for rent or resale (seasonally adjusted) fell 5.9% in August 2007, after an decrease of 8.6% in July 2007. The trend series rose 0.3% in August 2007.

PURCHASE OF DWELLINGS BY INDIVIDUALS FOR RENT OR RESALE
Purchase of Dwellings by Individuals for Rent or Resale




LEASE FINANCE

The value of lease finance commitments (seasonally adjusted) increased by 2.3% in August 2007. The trend series for lease finance commitments fell by 1.4%.

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