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5671.0 - Lending Finance, Australia, Dec 2009  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 15/02/2010   
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SUMMARY OF FINDINGS


HOUSING FINANCE FOR OWNER OCCUPATION

(Table 1)

The trend series for the total value of owner occupied housing commitments excluding alterations and additions decreased 1.4% and the seasonally adjusted series decreased 4.7%.

For further information, please refer to Housing Finance, Australia (cat. no. 5609.0), which was released on 10 February 2010.


PERSONAL FINANCE

(Tables 1 & 4)

In trend terms, the value of total personal finance commitments decreased 0.1% in December 2009 compared with November 2009. Fixed lending commitments fell 1.2%, while revolving credit commitments rose 0.9%.

In seasonally adjusted terms, the value of total personal finance commitments increased 0.2% in December 2009. Revolving credit commitments rose 2.2%, which was offset by a 2.1% fall in fixed lending commitments.

In original terms, for the twelve months ended December 2009, fixed lending commitments rose 9.0% ($3,299m) to $40,027m. The largest contributors to this increase were refinancing commitments which rose 35.9% ($3,249m) and commitments for the purchase of individual residential blocks of land which rose 37.4% ($1,745m). These increases were partially offset by a 14.3% ($1,461m) fall in commitments for the purchase of motor vehicles.


COMMERCIAL FINANCE

(Tables 1 & 8)

The trend series for the value of total commercial finance commitments decreased 0.8% in December 2009 compared with November 2009. Revolving credit commitments decreased 2.1% and fixed lending commitments decreased 0.3%.

The seasonally adjusted series for the value of total commercial finance commitments was flat for December 2009. Revolving credit commitments rose 3.8%, while fixed lending commitments fell 1.3%.

The value of commitments for the purchase of dwellings by individuals for rent or resale (trend) increased 0.9% in December 2009, following an increase of 1.1% in November 2009. The seasonally adjusted series rose 1.0% in December 2009.

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



LEASE FINANCE

(Table 1)

The value of lease finance commitments (trend) increased 0.6% in December 2009. The seasonally adjusted series increased 8.7%.


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