The total number of housing loans in Australia was down a seasonally adjusted 3.9 percent in August compared to the previous month, the Australian Bureau of Statistics said on Monday, standing at 49,912.
The headline figure was shy of forecasts for a contraction of 2.5 percent following the 2.4 percent increase in July.
Loans for the purchase of established dwellings contracted 4.6 percent on month (41,566) in August, while loans for the construction of new dwellings added 2.2 percent (5,393) and loans for the purchase of new dwellings dipped 4.0 percent (2,954).
The value of home loans was down 1.2 percent on month, seasonally adjusted, to A$23.835 billion following the flat reading in the previous month.
Investment lending was roughly flat on month at A$8.797 billion after rising 2.9 percent a month earlier.
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