The ABS released their finance statistics to end July today. Investment housing flows made up 38.2% of all new fixed commercial lending in the month, and 29% of all new commercial lending. Overall lending for housing was more than 44% of all new bank lending in the month. Investment lending remains strong, and after recent bank’s loan reclassification, was higher than previously reported. The tightening of lending criteria for investment loans was yet to work through into meaningful outcomes.
Secured lending for owner occupation, including refinance was $18.86 bn (up from $18.71 bn last month) . Owner occupied was $12.6bn (up from $12.5 bn in June) and refinancing was $6.20bn, (up from 6.15 last month).
Investment housing was $13.72 bn, (up from $13.69 bn last month), and other commercial lending was $22.22 bn, (down from $22.26 bn last month). Personal finance was $7.48 bn (down from $7.51 bn in June).
The total value of owner occupied housing commitments excluding alterations and additions rose 0.8% in trend terms, and the seasonally adjusted series rose 2.2%.
The trend series for the value of total personal finance commitments fell 0.4%. Revolving credit commitments fell 1.0% and fixed lending commitments fell 0.1%. The seasonally adjusted series for the value of total personal finance commitments fell 2.6%. Fixed lending commitments fell 5.8%, while revolving credit commitments rose 2.6%.
The trend series for the value of total commercial finance commitments fell 1.2%. Revolving credit commitments fell 1.7% and fixed lending commitments fell 1.1%. The seasonally adjusted series for the value of total commercial finance commitments fell 2.7%. Revolving credit commitments fell 13.0%, while fixed lending commitments rose 0.9%.
The trend series for the value of total lease finance commitments fell 0.1% in July 2015 and the seasonally adjusted series rose 60.2%, following a rise of 2.8% in June 2015.
