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Australia Home Loans Sink 1.9% In April

The total number of home loans issued in Australia was down a seasonally adjusted 1.9 percent on month in April, the Australian Bureau of Statistics said on Friday - standing at 53,062.

That missed forecasts for a decline of 1.0 percent following the 0.5 percent fall in March.

The value of loans sank 1.1 percent to A$19.892 billion after gaining 0.9 percent a month earlier.

Investment lending fell 2.3 percent to A$12.582 billion after adding 0.8 percent in the previous month.

Loans for the construction of new dwellings added 2.1 percent, while loans for the purchase of existing dwellings fell 3.0 percent.

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