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Australia Home Loans Slip 0.6% On Month In October

The total number of home loans in Australia issued in October came in a seasonally adjusted decline of 0.6 percent on month - standing at 55,406.

That beat forecasts for a fall of 2.0 percent following the downwardly revised 2.5 percent decline in September (originally 2.3 percent).

The value of loans was roughly flat at A$20.545 billion after sliding 3.4 percent a month earlier.

Investment lending was up 1.6 percent on month to A$11,958 after skidding 6.2 percent in the previous month.

The number of loans for the purchase of existing dwellings shed 0.4 percent on month to 46,199, while loans for the construction of dwellings fell 1.4 percent to 6,075 and loans for the purchase of new dwellings dipped 1.6 percent to 3,132.

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