Australia Home Loans Rise 2.0% In October

The total number of home loans issued in Australia was up a seasonally adjusted 2.0 percent on month in October, the Australian Bureau of Statistics said on Tuesday - worth A$18.21 billion.

Loans for owner occupied housing rose 2.2 percent to A$13.11 billion, while investment loans gained 1.4 percent to A$5.10 billion.

On a yearly basis, overall loans gained 0.9 percent, while owner occupied loans jumped 5.7 percent and investment loans dropped 9.7 percent. Personal fixed term loans were up 3.1 percent on month and down 9.4 percent on year to A$1.73 billion.

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