Australia Overall Home Loans Rise 1.0% In November

(RTTNews) - The overall value of home loans in Australia was up a seasonally adjusted 1.0 percent on month in November, the Australian Bureau of Statistics said on Friday = coming in at A$27.58 billion.

Owner-occupied housing loans rose 0.5 percent on month to A$17.86 billion and investment lending added 1.9 percent to A$9.72 billion.

On a yearly basis, overall lending rose 13.1 percent, owner-occupied lending climbed 10.6 percent and investment lending jumped 18.0 percent.

For housing construction, finance fell 4.8 percent on month after a rise of 1.2 percent in October. For the purchase of property, finance fell 6.4 percent after a fall of 3.7 percent in October.