The ABS released their final piece of the finance jig-saw today, Lending Finance to August 2017. As normal we look at the trend data, which smooths out some of the statistical bumps.
Total credit lifted again, in flow trend terms, up 0.2%.
Investment mortgage flows were up 0.2% (flat in Sydney, and still rising in Melbourne) and made up 10.2% of all credit, the same as last month. Lending for other commercial purposes rose 0.5% while revolving commercial credit fell 1.7%. Lending for personal finance rose 0.5%, as households reach for more credit to assist their cash flows.
The total value of owner occupied housing commitments excluding alterations and additions rose 0.9% in trend terms.
The trend series for the value of total personal finance commitments rose 0.5%. Revolving credit commitments rose 0.8% and fixed lending commitments rose 0.4%.
The trend series for the value of total commercial finance commitments was flat. Fixed lending commitments rose 0.4% while revolving credit commitments fell 1.7%.
The trend series for the value of total lease finance commitments rose 1.5% in August 2017 while the seasonally adjusted series fell 0.6%, following a 6.8% fall in July 2017.