HOME LOAN FINANCE DROPS

Written on the 9 March 2011

HOME LOAN FINANCE DROPS

THE latest figures released by the ABS show approvals for new home loans dropped 4.5 per cent to 48,871  in January.

The seasonally adjusted figures also outline a dip in existing dwelling purchases, down 3.5 per cent to 42,326. However the biggest drop for the month was the purchase of new homes - just less than 2000, showing a 13.5 per cent deficit compared to the month of December.

Total housing finance value across Australia dropped by 5.3 per cent to $20.3 billion. The biggest individual drop was in investment housing finance, down 6.8 per cent to $6.33b.

 


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