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Financial News: Australia December Home Loans Gain 0.4%

Australia December Home Loans Gain 0.4%

02/09/2017 - 20:30:00 (RTTNews)

(RTTNews) - The total number of new home loans in Australia climbed a seasonally adjusted 0.4 percent on month in December, the Australian Bureau of Statistics said on Friday - standing at 54,912.

The headline figure missed forecasts for a gain of 1.0 percent following the 0.9 percent gain in November.

Loans for the construction of new dwellings fell 0.3 percent to A$5.672 billion, while loans for the purchase of new dwellings jumped 3.2 percent to A$2.864 billion.

Loans for the purchase of established dwellings added 0.3 percent to A$46.375 billion.

The number of first home buyer commitments as a percentage of total owner occupied housing finance commitments was steady at 13.8 percent in December.

The number of first home buyer commitments fell 7.1 percent to 7,690 in December from 8,281 in November.

Investment lending fell 1.0 percent to A$13.199 billion after rising 4.9 percent on year in the previous month.

The value of loans climbed 1.3 percent to A$20.207 billion after adding 0.4 percent a month earlier.

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