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5671.0 - Lending Finance, Australia, Oct 2005  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 09/12/2005   
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OCTOBER KEY FIGURES

Sep 2005
Oct 2005
Sep 2005 to Oct 2005
$m
$m
% change

TREND ESTIMATES
Housing finance for owner occupation
12 291
12 485
1.6
Personal finance
5 933
5 908
-0.4
Commercial finance
26 234
26 569
1.3
Lease finance
537
540
0.6
SEASONALLY ADJUSTED ESTIMATES
Housing finance for owner occupation
12 457
12 686
1.8
Personal finance
5 977
5 778
-3.3
Commercial finance
26 592
27 305
2.7
Lease finance
557
538
-3.4

Personal finance
Graph: PERSONAL FINANCE

Commercial finance
Graph: COMMERCIAL FINANCE



OCTOBER KEY POINTS


HOUSING FINANCE FOR OWNER OCCUPATION

October 2005 compared with September 2005:

  • The total value of owner-occupied housing commitments excluding alterations and additions increased by 1.8% (seasonally adjusted), while the trend series rose 1.6%.


PERSONAL FINANCE

October 2005 compared with September 2005:
  • The seasonally adjusted series for the value of total personal finance commitments fell by 3.3%. Revolving credit commitments fell by 6.2%, while fixed lending commitments rose by 0.3%.
  • The trend series for the value of total personal finance commitments fell by 0.4%. Revolving credit commitments fell by 1.0%, while fixed lending commitments rose by 0.3%.


COMMERCIAL FINANCE

October 2005 compared with September 2005:
  • The seasonally adjusted series for the value of total commercial finance commitments increased by 2.7%. An increase in revolving credit commitments (up 8.7%) more than offset a fall in fixed lending commitments (down 0.6%).
  • The trend series for total commercial finance commitments increased by 1.3%. Fixed lending commitments decreased 0.2%, while revolving credit increased by 4.0%.


LEASE FINANCE

October 2005 compared with September 2005:
  • Lease finance (seasonally adjusted) fell by 3.4%, following three consecutive monthly increases. The lease finance trend series rose by 0.6%.


NOTES

FORTHCOMING ISSUES

ISSUE Release Date
November 2005 19 January 2006
December 2005 14 February 2006
January 2006 14 March 2006
February 2006 11 April 2006
March 2006 16 May 2006
April 2006 9 June 2006



CHANGES IN THIS ISSUE

The annual seasonal reanalysis has been undertaken on data up to September 2005. This has resulted in revisions to the seasonally adjusted and trend estimates for some series. Each year a seasonal reanalysis is performed on all time series to re-estimate and assess the appropriateness of any prior corrections which have previously been applied.



INQUIRIES

For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Michael Abbondante on Canberra (02) 6252 6707.



SUMMARY OF FINDINGS


HOUSING FINANCE FOR OWNER OCCUPATION

The total value of commitments excluding alterations and additions increased by 1.8% (seasonally adjusted) in October 2005 compared with September 2005, while the trend series rose 1.6%


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



PERSONAL FINANCE

In seasonally adjusted terms, the value of total personal finance commitments fell by 3.3% in October 2005 compared with September 2005. Fixed lending rose by 0.3% but was more than offset by revolving credit which fell 6.2%.


The total personal finance commitments trend series fell by 0.4% in October 2005 compared with September 2005. The trend increase published for September was revised (to a decrease of 0.3%) influenced by the moderate decline in the seasonally adjusted series over the past two months. The trend for revolving credit commitments fell by 1.0%, while fixed lending commitments increased 0.3%.


In original terms, fixed lending commitments decreased by $166m (down 6.2%) in October 2005 compared with September 2005. Movements in the original series contributing to this decrease were:

  • Total motor vehicles, down $80m (-9.6%), compared with an average September to October increase of 1.8% over the previous three years,
  • Other fixed lending, down $56m (-8.2%), compared with an average September to October increase of 5.7% over the previous three years.


COMMERCIAL FINANCE

The seasonally adjusted series for the value of total commercial finance commitments increased by 2.7% in October 2005 compared with September 2005. An increase in revolving credit commitments (up 8.7%) more than offset the fall in fixed lending commitments (down 0.6%).


The trend series for the value of total commercial finance commitments increased by 1.3% in October 2005 compared with September 2005. An increase in revolving credit commitments (up 4.0%) was partially offset by a decrease in fixed lending commitments (down 0.2%).


The value of purchase of dwellings by individuals for rent or resale (seasonally adjusted) series rose by 6.4% in October 2005 compared with September 2005, after a revised increase of 2.8% in September 2005. The trend series increased by 0.8%, the second increase following six consecutive monthly decreases.

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 (seasonally adjusted) decreased by 3.4% in October 2005 compared with September 2005. The lease finance trend rose by 0.6%, the fourth consecutive monthly increase.



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 2006

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