AUSTRALIA OVERALL HOME LOANS RISE 3.7% ON MONTH IN APRIL

The total value of overall home loans in Australia was up a seasonally adjusted 3.7 percent on month in April, the Australian Bureau of Statistics said on Friday - standing at A$31.0 billion.

The value of new loan commitments for owner occupier housing reached another all-time high in April, up 4.3 percent to A$23.0 billion. New loan commitments for investors rose 2.1 percent to A$8.1 billion, which was the highest level since mid-2017.

The rise in owner occupier lending was driven by increased loan commitments for existing dwellings, which rose 9.2 percent. Loan commitments to owner occupiers for the construction of new dwellings fell 11.4 percent following a fall of 14.8 percent in March.

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