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Financial News: Australia Home Loans Rise 6.0% On Month In

Australia Home Loans Rise 6.0% On Month In September

11/01/2020 - 20:40:00 (RTTNews)

(RTTNews) - The total value of owner-occupied home loans was up a seasonally adjusted 6.0 percent on month in September, the Australian Bureau of Statistics said on Monday - coming in at A$17.26 billion.

That's down from 13.6 percent in August.

Investment lending was up 5.2 percent on month in September at A$5.28 billion - slowing from the 9.3 percent gain in the previous month.

On a yearly basis, owner-occupied loans surged 33.8 percent and investment lending gained 4.2 percent.

Loans for construction skyrocketed 57.2 percent on month but plummeted 47.3 percent on year at A$2.06 billion.

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