|M/M percent change||3.0%||1.2%||-3.5%|
|Yr/Yr percent change||1.8%||-0.2%|
Home buyers responded to a cut in interest rates from the Reserve Bank of Australia, albeit less than anticipated. Australia's housing finance for owner occupied housing rebounded a less than expected 1.2 percent expectations were for a 3.0 percent bounce on the month after a 3.6 percent drop on the month. Home loans were up 1.8 percent from a year ago.
The loan value of owner occupied housing was up 0.5 percent on the month but fixed investment housing dropped 3.4 percent. .
Contain data for secured and unsecured housing finance commitments for owner occupation, commitments for construction or purchase of dwellings for rent or resale, and loans outstanding to individuals/households for housing.
The health of the housing market is always a key element in evaluating the strength of the economy. And it is no different for Australia. The data released here are for secured and unsecured housing finance commitments for owner occupation, commitments for construction or purchase of dwellings for rent or resale, and loan outstanding to individuals/households for housing.
For secured housing finance for owner occupation, these data give the number and value of commitments made by banks, permanent building societies, wholesale lenders not elsewhere classified and other lenders, provided to individuals/households. These commitments are classified by construction of dwellings, the purchase of new and established dwellings, the refinancing of existing dwellings and alterations and additions to dwellings.
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