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Australian Home Lending Declines in March |
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Australian Economy |
Written by CEP News |
May 12 08 11:36 GMT |
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(CEP News) - According to a report from the Australian Bureau of Statistics, home loans declined 6.1% month-over-month in March, further than the consensus 0.8% fall, and the previous month's 5.9% pull-back was revised down to a 6.8% decline.
New home purchasing declined 11.5% after falling 0.5% in the previous month, and existing home purchasing declined 6.0% following the previous month's 7.6% decline. Construction declined 4.6% after rising 0.6% in February. The report also said that refinancing declined 6.0% month-over-month in March following February's 6.9% decline, while total financing excluding refinancing declined 6.1% in March after falling 6.7% previously. In terms of value, total lending declined 5.2% month-over-month compared to the previous month's 7.5% decline. By Erik Kevin Franco,
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, edited by Cristina Markham,
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