Australia Owner-Occupied Home Loans Jump 5.6% In October

(RTTNews) - The value of owner-occupied home loans in Australia was up a seasonally adjusted 5.6 percent on month in October, the Australian Bureau of Statistics said on Monday - coming in at A$17.23 billion.

That beat expectations for an increase of 0.8 percent following the 0.1 percent decline in September.

On a yearly basis, loans were up 1.4 percent.

Investment lending climbed 5.0 percent on month and 12.1 percent on year to A$9.52 billion.

Construction loans were up 1.2 percent on month and down 0.7 percent on year at A$2.35 billion, while loans for the purchase of property sank 4.7 percent on month and climbed 4.9 percent on year to A$5.77 billion.