Changes in the presentation of key statistics
Housing finance
A total housing estimate will be included in the new publication. This will include data on loan commitments for: dwellings (new, existing and construction); plus the purchase of residential blocks of land; plus alterations and additions. The previous housing finance estimates only included dwellings (new, existing and construction). Total housing gives a more complete picture on lending for the purposes of housing.
Total lending to households will no longer be available as the relative contribution of housing to personal makes it difficult to interpret. Key statistics will now be presented by individual loan purpose (housing, personal and business) rather than by customer type (households or business).
Loan commitments for external refinancing were previously included in some total housing statistics. As internal refinancing is now separately collected, but only from July 2019, refinancing (either external or internal) will not be included in total housing estimates but will be published as stand-alone series.
Personal finance
Total personal finance was previously published as the sum of revolving credit and fixed term loans. This statistic will no longer be available. Instead, the component series will be published separately.
Personal revolving credit will also be available by lending for credit cards, margin loans and other revolving credit. These series will be available in original terms only and the time period will start in July 2019.
Business finance
The key statistics available for business lending will be limited to two purposes, construction and purchase of real property. Previously a total for all purposes was available, but there were significant issues with the quality of this data. It is difficult for lenders to determine the purpose of lending to large businesses as often the lending is via a facility that might have multiple purposes and locations. As a result of this, at this point only two purposes can be accurately identified for business lending.
Other loan purposes for business lending will be available by small and medium businesses in original terms only, with the series starting in July 2019.
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