Australian Home Loans Rise 3.3% In March

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.

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