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Financial News: Australia Home Loans Decline In May

Australia Home Loans Decline In May

07/11/2019 - 02:08:00 (RTTNews)

(RTTNews) - Australia's lending to households declined in May, data from the Australian Bureau of Statistics showed on Thursday.

Lending for investment dwellings decreased 1.7 percent from the previous month. Economists had forecast a 0.5 percent rise.

The value of loans to owner occupied dwellings declined a seasonally adjusted 2.7 percent in May.

At the same time, the overall value of new lending commitments to households fell 1.3 percent in May, after a 0.6 percent rise in April.

Personal finance dropped a seasonally adjusted 0.7 percent in May reversing a 4.2 percent in the previous month.

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