Australia Home loans stagnant despite new building bounce – Business – ABC News (Australian Broadcasting Corporation)

The number of new home loans increased modestly in October, due to a rise in finance for buying newly built dwellings.

Bureau of Statistics figures show the number of home loans approved for owner-occupiers rose 0.1 per cent to 46,477, seasonally adjusted.

That was below economist forecasts, which centred on a 3 per cent rise, according to a survey of 18 economists by Bloomberg.

The small rise in loans was exclusively driven by a 4.2 per cent increase in finance for the purchase of new dwellings, although the number of loans for home construction fell 0.3 per cent.

See on www.abc.net.au

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