Australia Home Loans Rise 3.3% In March

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The total value of owner-occupied home loans in Australia was up a seasonally adjusted 3.3 percent on month in March, the Australian Bureau of Statistics said on Tuesday – coming in at A$22.4 billion.

That follows the 1.8 percent decline in February.

Overall home loans rose 5.5 percent to A$30.2 billion, while the value of investment lending jumped 12.7 percent on month.

On a yearly basis, owner-occupied home loans surged 55.6 percent and investment lending spiked 54.3 percent.

The value of owner occupier loan commitments for the construction of new dwellings fell 14.5 percent.

The material has been provided by InstaForex Company – www.instaforex.com

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