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Financial News: Australia Home Loans Spike 13.6% In August

Australia Home Loans Spike 13.6% In August

10/08/2020 - 20:45:00 (RTTNews)

(RTTNews) - The value of owner-occupied home loans issued in Australia was up a seasonally adjusted 13.6 percent on month in August, the Australian Bureau of Statistics said on Friday - coming in at A$16.28 billion.

That was in line with expectations following the 10.7 percent increase in July.

Investment lending was up 9.3 percent on month to A$5.01 billion, while total home loans gained 12.6 percent on month.

On a yearly basis, owner-occupied loans surged 29.2 percent, investment lending sank 4.6 percent and total loans rose 19.3 percent.

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