5671.0 - Lending Finance, Australia, Jun 2008  
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 11/08/2008   
   Page tools: Print Print Page Print all pages in this productPrint All

SUMMARY OF FINDINGS


HOUSING FINANCE FOR OWNER OCCUPATION

The trend series for the total value of owner occupied housing commitments excluding alterations and additions decreased 3.6% and the seasonally adjusted series fell 1.1%.

For further information, please refer to Housing Finance, Australia (cat. no. 5609.0), which was released on 6 August 2008.


PERSONAL FINANCE

In trend terms, the value of total personal finance fell 1.6% in June 2008 compared with May 2008. This was due to a fall in both fixed lending commitments (down 2.4%) and revolving credit commitments (down 1.0%).

In seasonally adjusted terms, the value of total personal finance commitments rose 5.8% in June 2008. This was due to a rise in both fixed lending commitments (up 10.6%) and revolving credit commitments (up 2.1%).

In original terms, fixed lending commitments increased by $302m (up 10.4%) in June 2008 compared with May 2008.

Movements in the original series contributing to this increase were:

  • Refinancing, up $177m (29.4%)
  • Individual Residential Blocks of Land, up $81m (24.1%)
  • Other, up $64m (8.5%)


COMMERCIAL FINANCE

The trend series for the value of total commercial finance commitments fell 5.8% in June 2008 compared with May 2008. This was due to a fall in both fixed lending commitments (down 6.9%) and revolving credit commitments (down 3.6%).

The seasonally adjusted series for the value of total commercial finance commitments fell 2.0% in June 2008. This decrease was due to a fall in both revolving credit commitments (down 5.0%) and fixed lending commitments (down 0.4%).

The value of purchases of dwellings by individuals for rent or resale (trend) fell 3.0% in June 2008, after a decrease of 3.7% in May 2008. The seasonally adjusted series rose by 0.2% in June 2008.

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 (trend) recorded no change in June 2008, while the seasonally adjusted series rose 11.7%.