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Australia Home Loans Rise 1.0% In August

The total number of home loans in Australia was up a seasonally adjusted 1.0 percent on month in August, the Australian Bureau of Statistics said on Thursday - coming in at 57,161.

That beat forecasts for a gain of 0.5 percent following the downwardly revised 2.8 percent increase in July (originally 2.9 percent).

Investment lending advanced 4.3 percent to A$12.633 billion after sliding 3.7 percent in the previous month.

The value of loans gained 0.9 percent to A$21.265 billion after rising 1.3 percent a month earlier.

by RTT Staff Writer

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