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Financial News: Australia Home Loans Tumble 9.3% In September

Australia Home Loans Tumble 9.3% In September

11/01/2022 - 21:31:00 (RTTNews)

(RTTNews) - The total value of owner-occupied home loans in Australia was down a seasonally adjusted 9.3 percent on month in September, the Australian Bureau of Statistics said on Wednesday - standing at A$16.81 billion.

That was well shy of expectations for a decline of 2.6 percent following the 2.7 percent contraction in August.

Investment lending was down 6.0 percent on month at A$8.33 billion after slipping 4.8 percent in the previous month.

Overall loans dropped 8.2 percent on month to A$25.14 billion.

On a yearly basis, overall loans sank 18.5 percent, owner-occupied home loans dropped 19.9 percent and investment lending declined 15.3 percent.

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