1307.8 - Australian Capital Territory in Focus, 2007  
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Contents >> Economy >> Lending Activity

LENDING ACTIVITY

Housing finance commitments for owner occupation (excluding refinancing) totalled $1,918m in 2006-07, an increase of $472m (33%) over 2005-06. The main driving force behind the increase from 2005-06 to 2006-07 was finance for the purpose of Purchase of established dwellings, which continued to be the largest component of finance commitments at $2,103m. Finance commitments for Construction, and for Purchase of new dwellings, also exhibited strong growth between the two years (22% and 21% respectively).


Refinancing commitments increased by $54m (13%) from $402m to $456m between 2005-06 and 2006-07. This followed similar growth ($49m or 14%) between 2004-05 and 2005-06. Relative to five years earlier, in 2001-02, refinancing commitments were 103% higher in 2006-07.

4.13 Housing finance for owner occupation, All lenders - ACT

2001-02
2002-03
2003-04
2004-05
2005-06
2006-07
Purpose of commitment
$m
$m
$m
$m
$m
$m

Purchase of established dwellings
1 245
1 558
1 580
1 449
1 625
2 103
Construction
(a)96
135
122
103
105
128
Purchase of new dwellings
(a)74
93
111
112
118
143
Total
1 415
1 787
1 813
1 664
1 848
2 374
Refinancing
225
292
353
353
402
456
Total excluding refinancing
1 190
1 495
1 459
1 311
1 446
1 918

(a) Data for February and March 2002 for Construction and Purchase of new dwellings are confidential. The combined value of these two categories for each month are included in the sub-total and total.
Housing Finance, Australia, Jun 2007 (cat. no. 5609.0), Time series spreadsheets.


Personal finance, other than secured housing finance for owner occupation, is finance provided to individuals for their personal, non-business use. Both fixed loans and revolving credit finance are included.


Fixed personal finance commitments rose by $101m (22%) between 2005-06 and 2006-07, to $550m. The amount committed for refinancing was $161m in 2006-07, an increase of $23m (17%) over 2005-06. Refinancing accounted for 29% of all fixed personal finance commitments in 2006-07.


The year-end total credit limits associated with revolving credit facilities rose $192m (5%) to $3,942m in 2006-07. Over the five years 2001-02 to 2006-07, these credit limits increased by $1,605m (69%).

4.14 Personal finance commitments, All lenders - ACT

2001-02
2002-03
2003-04
2004-05
2005-06
2006-07
$m
$m
$m
$m
$m
$m

Fixed loan commitments
Motor vehicles
142
137
136
140
132
144
Household goods
16
22
21
22
18
20
Individual residential blocks of land, owner occupied housing (unsecured)
16
45
46
34
38
41
Debt consolidation
35
44
43
53
47
58
Refinancing
63
106
119
121
138
161
Other(a)
55
76
88
78
75
126
Total(b)
327
430
454
448
449
550
Revolving credit facilities
New and increased credit limits
524
590
704
546
648
559
Total credit limits (at end of year)
2 337
2 762
3 350
3 553
3 750
3 942
Credit used (at end of year)
1 000
1 251
1 549
1 669
1 718
1 717

(a) Includes boats, caravans and trailers, and travel and holidays.
(b) Due to rounding, totals shown in this table may not equal the sum of components.
Lending Finance, Australia, Jun 2007 (cat. no. 5671.0), Time series spreadsheets.


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