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Australia Overall Home Loans Rise 5.6% In November

The total value of overall home loans in Australia was up a seasonally adjusted 5.6 percent on month in November, the Australian Bureau of Statistics said on Friday - coming in at A$23.96 billion.

Owner-occupied home loans gained 5.5 percent to A$18.34 billion, while investment lending climbed 6.0 percent to A$5.61 billion.

On a yearly basis, overall lending jumped 23.7 percent, owner-occupied loans surged 31.4 percent and investment lending rose 3.9 percent.

Personal fixed term loans jumped 13.2 percent on month and 5.8 percent on year to A$1.76 billion.

Business construction loans plummeted 49.6 percent on month and 62.1 percent on year to A$1.02 billion.

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