Australian house lending fell for an 11th consecutive month in December as the Reserve Bank of Australia's aggressive tightening campaign raises borrowing costs and squeezes new loan sizes.

Total house lending ended 2022 with a decline of 4.3% m/m to AUD23.44 billion and is now down 27.7% from its January 2022 peak, according to the Australian Bureau of Statistics. Owner-occupier housing loans fell 4.2% m/m to AUD15.6 billion.

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Australian house lending fell for an 11th consecutive month in December as the Reserve Bank of Australia's aggressive tightening campaign raises borrowing costs and squeezes new loan sizes.

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MNI BRIEF: Aussie New Home Loans Drop For 11th Month