Australia Home Loans Sink 5.6% In December
(RTTNews) - The value of owner-occupied home loans in Australia was down a seasonally adjusted 5.6 percent on month in December, the Australian Bureau of Statistics said on Friday - coming in at A$16.77 billion.
That followed the 0.5 percent increase in November.
Investment lending slipped 1.3 percent to A$9.50 billion after climbing 1.9 percent in the previous month.
Overall home loans slipped 4.1 percent on month to A$26.27 billion.
On a yearly basis, owner-occupied loans rose 7.4 percent, investment lending surged 20.4 percent and overall lending was up 11.7 percent.
Loans for construction were up 3.3 percent on month and 21.9 percent on year at A$2.31 billion, while loans for the purchase of property gained 1.0 percent on month and 3.7 percent on year at A$5.32 billion.
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