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5671.0 - Lending Finance, Australia, Sep 2008  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 12/11/2008   
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SUMMARY OF FINDINGS


HOUSING FINANCE FOR OWNER OCCUPATION

The trend series for the total value of owner occupied housing commitments excluding alterations and additions decreased 1.2% and the seasonally adjusted series fell 1.9%.

For further information, please refer to Housing Finance, Australia (cat. no. 5609.0), which was released on 10 November 2008.


PERSONAL FINANCE

In trend terms, the value of total personal finance fell 0.2% in September 2008 compared with August 2008. This was due to a fall in fixed lending commitments (down 0.9%), while revolving credit commitments rose (up 0.3%).

In seasonally adjusted terms, the value of total personal finance commitments rose 1.5% in September 2008. This was due to a rise in revolving credit commitments (up 3.4%), while fixed lending commitments fell (down 0.8%).

In original terms, fixed lending commitments increased by $96m (up 3.6%) in September 2008 compared with August 2008.

Movements in the original series contributing to this increase were:

  • Total motor vehicles, up $59m (7.4%)
  • Refinancing, up $39m (7.1%)
  • Individual residential blocks of land, up $20m (5.9%)


COMMERCIAL FINANCE

The trend series for the value of total commercial finance commitments rose 0.6% in September 2008 compared with August 2008. This was due to a rise in revolving credit commitments (up 2.4%), while fixed lending commitments fell (down 0.6%).

The seasonally adjusted series for the value of total commercial finance commitments rose 14.1% in September 2008. This increase was due to a rise in both fixed lending commitments (up 20.2%) and revolving credit commitments (up 5.4%).

The value of purchases of dwellings by individuals for rent or resale (trend) fell 0.4% in September 2008, after a decrease of 1.0% in August 2008. The seasonally adjusted series rose by 1.4% in September 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) fell 1.8% in September 2008, while the seasonally adjusted series fell 4.0%.


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