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5671.0 - Lending Finance, Australia, Nov 2007  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 21/01/2008   
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NOVEMBER KEY FIGURES

Oct 2007
Nov 2007
Oct 2007 to Nov 2007
$m
$m
% change

TREND ESTIMATES
Housing finance for owner occupation
15 313
15 363
0.3
Personal finance
6 724
6 721
-0.1
Commercial finance
44 118
44 252
0.3
Lease finance
595
611
2.8
SEASONALLY ADJUSTED ESTIMATES
Housing finance for owner occupation
15 258
15 556
2.0
Personal finance
6 890
6 872
-0.3
Commercial finance
42 319
45 760
8.1
Lease finance
612
624
1.9

Personal finance
Graph: Personal Finance

Commercial finance
Graph: Commercial Finance



NOVEMBER KEY POINTS


NOVEMBER 2007 COMPARED WITH OCTOBER 2007:

HOUSING FINANCE FOR OWNER OCCUPATION

  • The total value of owner occupied housing commitments excluding alterations and additions increased 0.3% (trend) and the seasonally adjusted series rose 2.0%.


PERSONAL FINANCE
  • The trend series for the value of total personal finance fell 0.1%, due to a fall in revolving credit commitments (down 0.4%), offset by a rise in fixed lending commitments (up 0.4%).
  • The seasonally adjusted series for the value of total personal finance commitments fell 0.3%. This decrease was due to a fall in revolving credit commitments (down 1.3%), offset by a rise in fixed lending commitments (up 1.0%).


COMMERCIAL FINANCE
  • The trend series for the value of total commercial finance commitments rose 0.3%. This was due to a rise in revolving credit commitments (up 1.0%), while fixed lending commitments fell 0.1%.
  • The seasonally adjusted series for the value of total commercial finance commitments rose 8.1%. This increase was due to a rise in fixed lending commitments (up 12.9%) and revolving credit commitments (up 0.7%).


LEASE FINANCE
  • Lease finance commitments (trend) increased by 2.8%. The lease finance seasonally adjusted series rose by 1.9%.


NOTES

FORTHCOMING ISSUES

ISSUE Release Date
December 2007 13 February 2008
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



CHANGES IN THIS ISSUE

As foreshadowed in the October 2007 release, data in this publication has undergone the annual seasonal reanalysis review, resulting in improvements in the quality of some series. This has included the introduction of ARIMA modelling. See the October 2007 release for further details.



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 C1d, C1e, L1d, and OL1d 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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