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5671.0 - Lending Finance, Australia, Feb 2006  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 11/04/2006   
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FEBRUARY KEY FIGURES

Jan 2006
Feb 2006
Jan 2006 to Feb 2006
$m
$m
% change

TREND ESTIMATES
Housing finance for owner occupation
12 926
12 981
0.4
Personal finance
6 247
6 354
1.7
Commercial finance
32 631
33 536
2.8
Lease finance
630
647
2.7
SEASONALLY ADJUSTED ESTIMATES
Housing finance for owner occupation
12 733
13 022
2.3
Personal finance
6 356
6 490
2.1
Commercial finance
32 082
33 376
4.0
Lease finance
803
559
-30.4

Personal finance
Graph: PERSONAL FINANCE

Commercial finance
Graph: COMMERCIAL FINANCE



FEBRUARY KEY POINTS


HOUSING FINANCE FOR OWNER OCCUPATION

FEBRUARY 2006 COMPARED WITH JANUARY 2006:

  • The total value of owner-occupied housing commitments excluding alterations and additions increased by 2.3% (seasonally adjusted), while the trend series rose 0.4%.


PERSONAL FINANCE

FEBRUARY 2006 COMPARED WITH JANUARY 2006:
  • The seasonally adjusted series for the value of total personal finance commitments rose by 2.1%. This increase was due to increases in both fixed lending commitments (up 2.2%) and revolving credit commitments (up 2.1%).
  • The trend series for the value of total personal finance commitments rose by 1.7% due to increases in both fixed lending (up 1.2%) and revolving credit commitments (2.1%).


COMMERCIAL FINANCE

FEBRUARY 2006 COMPARED WITH JANUARY 2006:
  • The seasonally adjusted series for the value of total commercial finance commitments rose by 4.0%. This increase was due to increases in both revolving credit commitments (up 8.1%) and fixed lending commitments (up 1.9%).
  • The trend series for the value of total commercial finance commitments rose by 2.8%. Revolving credit rose by 3.0%, while fixed lending commitments increased by 2.7%.


LEASE FINANCE

FEBRUARY 2006 COMPARED WITH JANUARY 2006:
  • Lease finance commitments (seasonally adjusted) decreased by 30.4%, after the strong growth of 40.7% in January. The lease finance trend series rose by 2.7%.


NOTES

FORTHCOMING ISSUES

ISSUE Release Date
March 2006 16 May 2006
April 2006 9 June 2006
May 2006 12 July 2006
June 2006 11 August 2006
July 2006 11 September 2006
August 2006 13 October 2006



CHANGES IN THIS ISSUE

There are no significant changes to this issue.



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 owner occupied housing commitments excluding alterations and additions increased by 2.3% (seasonally adjusted) in February 2006 compared with January 2006, while the trend series rose 0.4%


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 rose by 2.1% in February 2006 compared with January 2006. This increase was due to increases in both fixed lending commitments (up 2.2%) and revolving credit commitments (up 2.1%).


In trend terms, the value of total personal finance commitments rose by 1.7% in February 2006 compared with January 2006. The trend series for revolving credit commitments rose 2.1%, while fixed lending commitments increased by 1.2%.


In original terms, fixed lending commitments increased by $235m (up 9.4%) in February 2006 compared with January 2006. Key movements in the original series by purpose contributing to this increase were:

  • Refinancing, up $66m (12.5%), compared with an average January to February increase of 5.2% over the previous three years; and
  • Other fixed lending, up $84m (14.5%), compared with an average January to February increase of 15.7% over the previous three years.


COMMERCIAL FINANCE

The seasonally adjusted series for the value of total commercial finance commitments rose by 4.0% in February 2006. The increase was mainly due to a rise in revolving credit commitments (up 8.1%), following a decrease in January 2006 (down 2.3%). Fixed lending commitments also increased (up 1.9%) in February 2006.


The trend series for commercial finance commitments increased (up 2.8%) in February 2006 compared to January 2006. Strong growth was recorded for both fixed lending commitments (up 2.7%) and revolving credit commitments (up 3.0%).


The value of purchase of dwellings by individuals for rent or resale (seasonally adjusted) series fell by 0.7% in February 2006, after a modest increase of 0.3% in January 2006. The trend series rose by 0.6%, the seventh consecutive monthly increase.

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 30.4%, after the strong growth of 40.7% in January. The strong decrease in the seasonally adjusted lease finance series resulted in a softening in the growth in the trend series for lease finance commitments (up 2.7%).



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 February 2007.

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