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5671.0 - Lending Finance, Australia, Dec 2007  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 13/02/2008   
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DECEMBER KEY FIGURES

Nov 2007
Dec 2007
Nov 2007 to Dec 2007
$m
$m
% change

TREND ESTIMATES
Housing finance for owner occupation
15 393
15 458
0.4
Personal finance
6 867
6 929
0.9
Commercial finance
43 885
43 675
-0.5
Lease finance
597
605
1.3
SEASONALLY ADJUSTED ESTIMATES
Housing finance for owner occupation
15 481
15 554
0.5
Personal finance
6 939
7 151
3.1
Commercial finance
45 534
43 675
-4.1
Lease finance
619
576
-7.0

Personal finance
Graph: Personal Finance

Commercial finance
Graph: Commercial Finance



DECEMBER KEY POINTS


DECEMBER 2007 COMPARED WITH NOVEMBER 2007:

HOUSING FINANCE FOR OWNER OCCUPATION

  • The total value of owner occupied housing commitments excluding alterations and additions trend series increased 0.4% and the seasonally adjusted series rose 0.5%.


PERSONAL FINANCE
  • The trend series for the value of total personal finance rose 0.9%, due to a rise in both revolving credit commitments (up 1.1%) and fixed lending commitments (up 0.6%).
  • The seasonally adjusted series for the value of total personal finance commitments rose 3.1%. This increase was due to revolving credit commitments (up 5.6%), which includes credit card facilities and other personal lines of credit and fixed lending commitments (up 0.1%).


COMMERCIAL FINANCE
  • The trend series for the value of total commercial finance commitments fell 0.5%. This was due to a fall in revolving credit commitments (down 2.4%), while fixed lending commitments rose 0.5%.
  • The seasonally adjusted series for the value of total commercial finance commitments fell 4.1%. This decrease was due to a fall in revolving credit commitments (down 19.1%), while fixed lending commitments rose 4.3%.


LEASE FINANCE
  • Lease finance commitments (trend) increased by 1.3%. The lease finance seasonally adjusted series fell by 7.0%.


NOTES

FORTHCOMING ISSUES

ISSUE Release Date
January 2008 12 March 2008
February 2008 15 April 2008
March 2008 13 May 2008
April 2008 11 June 2008
May 2008 14 July 2008
June 2008 11 August 2008



CHANGES TO THIS ISSUE

The numbering of the additional time series spreadsheets which appear on the ABS website has changed. These tables are now numbered sequentially following on from the table numbers in this publication. No change has been made to the format or content of these spreadsheets.



REVISIONS

Revisions were made to Personal Finance and Commercial Finance to include the latest available administrative and survey data.



COMMENT SOUGHT ON USE OF LENDING STATISTICS BY INDUSTRY

The Australian and New Zealand Standard Industrial Classification (ANZSIC), which is used to present lending finance statistics on an industry of borrower basis in the time series tables 17, 18, 30, and 41 of this release, has been updated. The ABS is currently in discussion with the Australian Prudential Regulation Authority (APRA) on the implementation of the revised 2006 version of ANZSIC.


Implementing the revised ANZSIC classification will require considerable effort from APRA and the finance sector businesses which provide information to APRA. Before any work commences, the ABS would like to identify current users of these lending statistics on an industry of borrower basis and the nature of the use that they are making of them.


Therefore, if you are a user of lending finance statistics presented on an "industry of borrower" basis, we would appreciate your advice on the use you make of them. Continuation of collection and release of industry statistics will depend on the extensiveness and nature of their use, as the ABS and APRA are required to avoid any unwarranted collection burden on businesses.


To contribute to this process, please contact Michael Abbondante by email at m.abbondante@abs.gov.au or by telephone on (02) 6252 6707 before 22 February 2008.



INQUIRIES

For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Philip Beresford on Canberra (02) 6252 6052.


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