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Posts sent on: 2013-11-11

Nov112013

Australia Home-loan Approvals Rise In September











Just add items to create a watchlist now: Add or Cancel Already have a watchlist? Log In By David Rogers SYDNEY--Australian home-loan approvals rose a seasonally adjusted 4.4% in September from August, the Bureau of Statistics said Monday. Economists surveyed ahead of the announcement had expected a rise of 4.0%. The value of loans for investment housing rose 5.2% from August, the bureau said. Home lending rose across the country except in resource-rich Western Australia and the Northern Territory. Housing is emerging as one of the few areas of strength in the economy as a long resources boom cools. The central bank has cut rates eight times since late 2011 in a bid to spur activity in areas like retail and housing that have led previous expansions. But at the same time, policy makers are worried about the housing sector overheating, leading to risky investment that could derail a fragile economic recovery. The latest cut in August took the cash rate to a record-low 2.5%. Home-loan approvals have been rising steadily so far this year, with the exception of August, when they fell by a downwardly revised 4.0%.
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Australia Home Loans increase to 4.4%m/m






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