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Australia Home Loans Rise 2.1% On Month In May

The value of owner-occupied home loans issued in Australia was up a seasonally adjusted 2.1 percent on month in May, the Australian Bureau of Statistics said on Monday - coming in at A$21.18 billion.

That beat expectations for a decline of 2.0 percent on month following the 7.3 percent contraction in April.

In May, the value of new loan commitments: rose 1.7 percent for housing; rose 5.1 percent for personal fixed term loans; fell 3.5 percent for business construction; and rose 19.5 percent for business purchase of property.

In May, the value of new loan commitments for total housing rose 1.7 percent to A$32.4 billion after a revised fall of 2.8 percent in April.

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