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5671.0 - Lending Finance, Australia, Oct 2004  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 10/12/2004   
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OCTOBER KEY FIGURES

Sep 2004
Oct 2004
Sep 2004 to Oct 2004
$m
$m
% change

TREND ESTIMATES
Housing finance for owner occupation
10,216
10,249
0.3
Personal finance
6,321
6,329
0.1
Commercial finance
24,962
25,637
2.7
Lease finance
529
546
3.3
SEASONALLY ADJUSTED ESTIMATES
Housing finance for owner occupation
10,251
10,205
-0.4
Personal finance
6,428
6,544
1.8
Commercial finance
27,854
25,444
-8.7
Lease finance
570
541
-5.1

Personal finance
Graph: Personal finance

Commercial finance
Graph: Commercial finance



OCTOBER KEY POINTS


HOUSING FINANCE FOR OWNER OCCUPATION

  • The total value of owner-occupied housing commitments decreased by 0.4% (seasonally adjusted) in October 2004. The trend series increased by 0.3%.


PERSONAL FINANCE
  • The seasonally adjusted series for total personal finance commitments rose by 1.8% in October 2004. Fixed lending and revolving credit commitments increased by 0.4% and 3.0%, respectively.
  • The total personal finance trend series increased by 0.1% in October 2004, the first monthly increase after eleven consecutive monthly decreases.


COMMERCIAL FINANCE
  • The total commercial finance series (seasonally adjusted) fell by 8.7% in October 2004. Fixed lending increased by 11.4% and revolving credit decreased by 35.6%.
  • The purchase of dwellings by individuals for rent or resale (seasonally adjusted) series fell by 8.0% in October 2004, after a rise of 4.8% in the previous month.
  • The trend series for total commercial finance increased by 2.7% in October 2004. The fixed lending and revolving credit trend series rose by 2.8% and 2.6%, respectively.


LEASE FINANCE
  • Lease finance (seasonally adjusted) decreased by 5.1% in October 2004.
  • The lease finance trend rose by 3.3% in October 2004, the fifth month of small increases following eight successive monthly falls.


NOTES

CHANGES IN THIS ISSUE

The annual seasonal re-analysis has been undertaken on data up to September 2004. This has resulted in revisions to the seasonally adjusted and trend estimates for some series.



INQUIRIES

For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Vincent Nguyen on Canberra (02) 6252 6398.



SUMMARY OF FINDINGS


HOUSING FINANCE FOR OWNER OCCUPATION

The total value of commitments excluding alterations and additions (seasonally adjusted) decreased by 0.4% in October 2004. The trend series increased by 0.3%.


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



PERSONAL FINANCE

In seasonally adjusted terms, total personal finance rose by 1.8% to $6,544 million in October 2004, the second consecutive monthly increase. Fixed lending and revolving credit commitments increased by 0.4% and 3.0%, respectively.


In original terms, revolving credit commitments increased by 1.4% in October, due to the increase in unsecured revolving credit (up 23.9%) more than offsetting the decrease in secured revolving credit (down 15.7%).


In original terms, fixed lending commitments decreased by 2.7%, to $2,840 million in October 2004. This was due mainly to decreases in total motor vehicles (down 3.3%), other fixed lending (down 3.0%), and refinancing (down 3.3%).



COMMERCIAL FINANCE

Total commercial finance series (seasonally adjusted) decreased by 8.7% to $25,444 million in October 2004. Revolving credit decreased by 35.6% which returned this series to its historical levels after a large increase of 47.2% in September. Fixed lending increased by 11.4%.


In original terms, fixed lending commitments increased by 9.6%. Increases were recorded in construction finance (up 149.5%) and refinancing (up 71.8%). In contrast, wholesale finance and other fixed lending fell by 8.2% and 8.8%, respectively. Revolving credit commitments (original) decreased by 42.6%.


The seasonally adjusted purchase of dwellings for rent or resale by individuals series decreased to $4,091 million (down 8.0%) in October 2004. The trend series fell by 1.1% in October 2004, the twelfth consecutive monthly decline.

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




LEASE FINANCE

Total lease finance series (seasonally adjusted) decreased by 5.1% to $541 million in October 2004, after three monthly increases. The lease finance trend series grew by 3.3% in October 2004, still driven by the strong growth in the seasonally adjusted series over the three months to September 2004.



ADDITIONAL TABLES ON AUSSTATS


TABLES AVAILABLE ON AUSSTATS

Additional tables are available from the AusStats service on <http://www.abs.gov.au> by selecting Time Series Spreadsheets and then Finance.


Tables available are:

  • longer time series of tables in this publication
  • the following tables
        C1a. Commercial finance commitments (original, seasonally adjusted, trend)
        C1b. Commercial finance commitments, fixed loans and revolving credit
        C1c. Commercial finance commitments, fixed loans and revolving credit by lender
        C1d. Commercial finance commitments, fixed loans by industry
        C1e. Commercial finance commitments, revolving credit by industry
        C2 to C9. Commercial finance commitments, fixed loans and revolving credit by state and territory
        L1a. Lease finance commitments, summary (original, seasonally adjusted, trend)
        L1b. Lease finance commitments by purpose
        L1c. Lease finance commitments by purpose and lender
        L1d. Lease finance commitments by industry
        L2 to L9. Lease finance commitments by purpose and state and territory
        OL1b. Operating lease finance commitments by purpose
        OL1c. Operating lease finance commitments by lender
        OL1d. Operating lease finance commitments by industry
        OL2 to OL9. Operating lease finance commitments by purpose and state and territory
        P1a. Personal finance commitments, summary (original, seasonally adjusted, trend)
        P1b. Personal finance commitments, fixed loans and revolving credit
        P1c. Personal finance commitments, fixed loans and revolving credit by lender
        P2 to P9. Personal finance commitments, fixed loans and revolving credit by state and territory
        13 Lending Finance Seasonal Factors, By Purpose and Lender: Australia, January 1985 to October 2005

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