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5671.0 - Lending Finance, Australia, May 2005  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 13/07/2005   
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MAY KEY FIGURES

Apr 2005
May 2005
Apr 2005 to May 2005
$m
$m
% change

TREND ESTIMATES
Housing finance for owner occupation
11,752
11,779
0.2
Personal finance
5,992
5,952
-0.7
Commercial finance
25,738
25,858
0.5
Lease finance
549
556
1.2
SEASONALLY ADJUSTED ESTIMATES
Housing finance for owner occupation
11,665
11,597
-0.6
Personal finance
6,063
5,881
-3.0
Commercial finance
23,433
27,238
16.2
Lease finance
570
562
-1.5

Personal finance
Graph: 5671pf_ver1

Commercial finance
Graph: 5671_CF_ver1



MAY KEY POINTS


HOUSING FINANCE FOR OWNER OCCUPATION

  • The total value of owner-occupied housing commitments excluding alterations and additions decreased by 0.6% (seasonally adjusted) in May 2005. The trend series increased by 0.2%.


PERSONAL FINANCE
  • The seasonally adjusted series for total personal finance commitments fell by 3.0% in May 2005. This decrease was mainly due to the decrease in revolving credit commitments (down 5.0%), with a relatively smaller fall in fixed lending commitments (down 0.6%).
  • The total personal finance trend series fell by 0.7% in May 2005. The trend for fixed lending and revolving credit commitments decreased by 0.3% and 1.0%, respectively.


COMMERCIAL FINANCE
  • The seasonally adjusted series for total commercial finance increased by 16.2% in May 2005. The strong increase in the volatile revolving credit series (up 73.0%) was partially offset by the decrease in fixed lending (down 1.4%).
  • The purchase of dwellings by individuals for rent or resale (seasonally adjusted) series fell by 6.5% in May 2005, the third consecutive monthly decrease.
  • The trend series for total commercial finance rose by 0.5% in May 2005. Fixed lending rose by 1.5% while revolving credit fell by 1.5%.


LEASE FINANCE
  • Lease finance (seasonally adjusted) decreased by 1.5% in May 2005, after a rise of 11.2% in April.
  • The lease finance trend rose by 1.2% in May 2005, the fourth consecutive monthly increase following two monthly decreases.


NOTES

CHANGES IN THIS ISSUE

There are no changes in this issue.



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 0.6% in May 2005. The trend series increased by 0.2%.


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



PERSONAL FINANCE

In seasonally adjusted terms, total personal finance fell by 3.0% in May 2005. This decrease was mainly due to the decrease in revolving credit commitments (down 5.0%), with a relatively smaller fall in fixed lending commitments (down 0.6%).


The total personal finance commitments trend series fell by 0.7% in May 2005, the sixth consecutive monthly decrease. The revolving credit series decreased by 1.0% in May, while the fixed lending series fell by 0.3%.



COMMERCIAL FINANCE

Total commercial finance (seasonally adjusted) rose strongly by 16.2% in May 2005, after a 13.2% fall in April. The increase was mostly due to the large jump in revolving credit commitments (up 73.0% after a quiet April), which was driven by a number of high value new and increased revolving credit limits to borrowers in the finance and insurance industry. Fixed lending fell by 1.4%.


The trend series for total commercial finance increased by 0.5% in May 2005, the third consecutive monthly increase. This fall was due to the increase in fixed lending (up 1.5%) which was partly offset by the decrease in revolving credit (down 1.5%).


The seasonally adjusted purchase of dwellings for rent or resale by individuals series fell by 6.5% in May 2005. The trend series decreased by 1.8% in May 2005, the fourth consecutive monthly decrease.

Graph: PURCHASE OF DWELLINGS BY INDIVIDUALS FOR RENT OR RESALE



LEASE FINANCE

Total lease finance (seasonally adjusted) fell by 1.5% in May 2005. The lease finance trend series rose by 1.2%, 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 May 2006

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