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Financial News: Australia Home Loans Sink 3.3% In June

Australia Home Loans Sink 3.3% In June

08/01/2022 - 21:47:00 (RTTNews)

(RTTNews) - The total value of owner-occupied home loans in Australia was down a seasonally adjusted 3.3 percent on month in June, the Australian Bureau of Statistics said on Tuesday - coming in at A$20.50 billion.

That missed expectations for a decline of 3.0 percent following the 2.1 percent increase in May.

Investment lending fell 6.3 percent on month to A$10.48 billion, while overall home loans sank 4.4 percent on month to A$30.97 billion.

On a yearly basis, owner-occupied home loans shed 9.6 percent and investment lending jumped 17.3 percent, so total home loans dipped 2.0 percent.

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