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5671.0 - Lending Finance, Australia, Feb 2004  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 15/04/2004   
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FEBRUARY KEY FIGURES

Jan 2004
Feb 2004
Jan 2004 to Feb 2004
$m
$m
% change

TREND ESTIMATES
Housing finance for owner occupation
10,218
9,896
-3.1
Personal finance
6,720
6,665
-0.8
Commercial finance
24,307
23,582
-3.0
Lease finance
530
510
-3.7
SEASONALLY ADJUSTED ESTIMATES
Housing finance for owner occupation
9,860
9,749
-1.1
Personal finance
6,675
6,587
-1.3
Commercial finance
22,629
22,292
-1.5
Lease finance
465
522
12.3

Personal finance
Graph - Personal Finance, Trend and Seasonally Adjusted

Commercial finance
Graph - Commercial Finance, Trend and Seasonally Adjusted



FEBRUARY KEY POINTS


HOUSING FINANCE FOR OWNER OCCUPATION

  • The total value of owner-occupied housing commitments decreased by 1.1% (seasonally adjusted) in February 2004. The trend series decreased by 3.1%.


PERSONAL FINANCE
  • The seasonally adjusted series for total personal finance commitments fell by 1.3% in February 2004. The fixed lending series increased by 2.6%, while revolving credit commitments decreased by 4.0%.
  • The total personal finance trend series fell by 0.8% in February 2004, the third consecutive fall.


COMMERCIAL FINANCE
  • The total commercial finance series (seasonally adjusted) fell by 1.5% in February 2004. In particular, revolving credit commitments fell by 8.4% and fixed lending commitments rose by 2.3%.
  • The purchase of dwellings by individuals for rent and resale (seasonally adjusted) decreased by 3.7% in February 2004, the fourth consecutive monthly decrease.
  • The trend series for total commercial finance decreased by 3.0% in February 2004. Decreases were recorded in both fixed lending (down 2.3%) and revolving credit (down 4.3%).


LEASE FINANCE
  • Lease finance (seasonally adjusted) increased by 12.3% in February 2004, following an 11.4% fall in the previous month.
  • The lease finance trend fell by 3.7% in February 2004.


NOTES

CHANGES IN THIS ISSUE

There are no changes in this issue.



HOUSING FINANCE

From the March 2004 issue the Housing Finance for Owner Occupation publication (ABS cat. no. 5609.0) will be renamed Housing Finance, Australia and will include two additional tables:

  • a new table on the Value of Finance Commitments for Housing. This new table will be the same in content and format as table 8 (Finance Commitments for Housing) contained in this publication. This will ensure that information on lending commitments for owner occupation housing and investment housing are released on the same date;
  • a new table of home loan outstandings classified by lender. This new table will contain monthly data from March 2002 for Authorised Deposit-taking Institutions (ADIs) classified by type of lender and split by owner-occupation housing and investment housing. For other lending institutions, total housing loan outstandings will be provided on a quarterly basis to provide a complete picture of all financial institutions providing finance for the purpose of housing.

The front page and summary of finding sections for Housing Finance, Australia will also change to reflect the additional information. A mock-up of the revised publication will be available on the ABS website from 5 May 2004. From the Home page select Themes, then Finance and scroll down to the What's New heading.


Note that this publication will remain unchanged in content and format. Queries regarding the changes may be directed to Darren Page on 02 6252 6731 or email darren.page@abs.gov.au.



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.



LENDING FINANCE SUMMARY OF FINDINGS


HOUSING FINANCE FOR OWNER OCCUPATION

The total value of commitments excluding alterations and additions (seasonally adjusted) decreased by 1.1% in February 2004, after a decrease of 6.2% in January 2004. The trend series decreased by 3.1%.


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



PERSONAL FINANCE

The seasonally adjusted series for total personal finance fell by 1.3%, to $6 587 million in February 2004, the fourth successive monthly fall after increases in the previous six months. Fixed lending increased by 2.6%, while revolving credit commitments decreased by 4.0%.


The total personal finance commitments trend series decreased by 0.8% in February 2004. The trend for revolving credit commitments decreased by 0.3%, while the fixed lending trend fell for a fourth successive month (down 1.5%).


In original terms, fixed lending commitments increased by 10.2%, to $2 707 million in February 2004. All fixed lending purposes rose in February.



COMMERCIAL FINANCE

The seasonally adjusted total commercial finance series decreased by 1.5% in February 2004. In particular, revolving credit commitments fell by 8.4% and fixed lending commitments rose by 2.3%.


The total commercial finance trend estimate decreased by 3.0% in February 2004. The fixed lending trend and the revolving credit trend fell by 2.3% and 4.3% respectively.


The seasonally adjusted purchase of dwellings for rent or resale by individuals (investment housing) series decreased to $4 500 million (down 3.7%) in February 2004, the fourth consecutive monthly decrease following rises in the previous six months. The investment housing trend series fell by 5.2% in February.

Purchase of Dwellings by Individuals for Rent or Resale
Graph - Purchase of Dwellings by Individuals for Rent or Resale, Trend and Seasonally Adjusted




LEASE FINANCE

In seasonally adjusted terms, the lease finance series increased by 12.3% to $522 million in February 2004, following decreases in the previous two months. The lease finance trend series fell for the fourth successive month, by 3.7%.

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