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MNI BRIEF: Aussie New Home Loans Dip For Fourth Straight Month

MNI (PERTH)
(MNI) Perth
True

The Reserve Bank of Australia's aggressive tightening cycle continues to reverberate through home lending, with new home loans dropping for a fourth consecutive month in September, according to Australian Bureau of Statistics lending indicators released on Wednesday.

Total home loans fell 8.2% m/m to AUD25.1 billion, the lowest level since November 2020 and well down from peak monthly loans of AUD32.77 billion in December 2021. The value of new owner-occupier loans fell 9.3%, while new investor loans dropped 6%.

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The Reserve Bank of Australia's aggressive tightening cycle continues to reverberate through home lending, with new home loans dropping for a fourth consecutive month in September, according to Australian Bureau of Statistics lending indicators released on Wednesday.

Total home loans fell 8.2% m/m to AUD25.1 billion, the lowest level since November 2020 and well down from peak monthly loans of AUD32.77 billion in December 2021. The value of new owner-occupier loans fell 9.3%, while new investor loans dropped 6%.

Keep reading...Show less