Australian Bureau of Statistics

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5671.0 - Lending Finance, Australia, Feb 2008  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 15/04/2008   
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SUMMARY OF FINDINGS


HOUSING FINANCE FOR OWNER OCCUPATION

The total value of owner occupied housing commitments excluding alterations and additions decreased 0.2% (trend) and the seasonally adjusted series fell 6.0%.

For further information, please refer to Housing Finance, Australia (cat. no. 5609.0), which was released on 14 April 2008.


PERSONAL FINANCE

In trend terms, the value of total personal finance rose 1.4% in February 2008 compared with January 2008. The trend series rose for both revolving credit commitments (up 1.6%) and fixed lending commitments (up 1.0%).

In seasonally adjusted terms, the value of total personal finance commitments rose 0.9% in February 2008. This was due to a rise in revolving credit commitments (up 2.4%), while fixed lending commitments fell 0.8%.

In original terms, fixed lending commitments increased by $249m (up 8.0%) in February 2008 compared with January 2008.

Movements in the original series contributing to this increase were:

  • Refinancing, up $121m (16.9%)
  • Debt Consolidation, up $70m (22.7%)
  • Total Motor Vehicles, up $21m (2.3%)


COMMERCIAL FINANCE

The trend series for the value of total commercial finance commitments rose 0.9% in February 2008 compared with January 2008. This was due to a rise in fixed lending commitments (up 1.7%), while revolving credit commitments fell 0.7%.

The seasonally adjusted series for the value of total commercial finance commitments fell 10.4% in February 2008. This decrease was due to a fall in both fixed lending commitments (down 13.8%) and revolving credit commitments (down 2.8%).

The value of purchases of dwellings by individuals for rent or resale (trend) fell 1.2% in February 2008, after a decrease of 1.3% in January 2008. The seasonally adjusted series fell by 4.5% in February 2008.

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 (trend) showed no movement in February 2008. The seasonally adjusted series for lease finance commitments fell by 4.4%.


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