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5671.0 - Lending Finance, Australia, Nov 2007  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 21/01/2008   
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SUMMARY OF FINDINGS


HOUSING FINANCE FOR OWNER OCCUPATION

The total value of owner occupied housing commitments excluding alterations and additions increased 0.3% (trend) and the seasonally adjusted series rose 2.0%.


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



PERSONAL FINANCE

In trend terms, the value of total personal finance fell 0.1% in November 2007 compared with October 2007. The trend series fell in revolving credit commitments (down 0.4%), offset by an increase in fixed lending commitments (up 0.4%).


In seasonally adjusted terms, the value of total personal finance commitments fell 0.3% in November 2007. This decrease was due to a fall in revolving credit commitments (down 1.3%), offset by a rise in fixed lending commitments (up 1.0%).


In original terms, fixed lending commitments increased by $179m (up 5.6%) in November 2007 compared with October 2007.


Movements in the original series contributing to this decrease were:

  • Refinancing, up $104m (14.9%)
  • Other, up $68m (8.6%)
  • Debt consolidation, up $21m (6.5%)


COMMERCIAL FINANCE

The trend series for the value of total commercial finance commitments rose 0.3% in November 2007 compared with October 2007. This was due to a rise in revolving credit commitments (up 1.0%), partially offset by a fall in fixed lending commitments (down 0.1%).


The seasonally adjusted series for the value of total commercial finance commitments rose by 8.1% in November 2007. This increase was due to a rise in fixed lending commitments (up 12.9%) and revolving credit commitments (up 0.7%).


The value of purchases of dwellings by individuals for rent or resale (trend) fell 1.6% in November 2007, after a decrease of 1.6% in October 2007. The seasonally adjusted series remained virtually unchanged in November 2007.

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) increased by 2.8% in November 2007. The seasonally adjusted series for lease finance commitments rose by 1.9%.

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