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Australia Home Loans Sink 3.8% In November
(RTTNews) - The value of loans for owner-occupied housing fell a seasonally adjusted 3.8 percent on month in November, the Australian Bureau of Statistics said on Friday - coming in at A$16.43 billion.
Investment lending was down 3.6 percent to A$8.29 billion, so overall lending lost 3.7 percent at A$24.73 billion.
On a yearly basis, owner-occupied housing loans dropped 24.8 percent, investment lending lost 23/2 percent and overall loans slipped 24.3 percent.
In business lending, construction plummeted 62.1 percent on month and property purchase eased 0.7 percent.
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