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Australia's home loans decline in August

FXStreet (Bali) - Australia's home loans came below forecasts (0.1%) in August, with the actual at -0.9%, while investment lending for homes was also down to -0.1% in August from previous 6.8%.

Key points

August 2014 compared with July 2014: "The trend estimate for the total value of dwelling finance commitments excluding alterations and additions rose 0.3%. Investment housing commitments rose 0.9% while owner occupied housing commitments fell 0.1%. In seasonally adjusted terms, the total value of dwelling finance commitments excluding alterations and additions fell 1.2%."

August 2014 compared with July 2014: "In trend terms, the number of commitments for owner occupied housing finance fell 0.2% in August 2014. In trend terms, the number of commitments for the purchase of established dwellings fell 0.3% and the number of commitments for the construction of dwellings fell 0.2%, while the number of commitments for the purchase of new dwellings rose 1.7%. In original terms, the number of first home buyer commitments as a percentage of total owner occupied housing finance commitments fell to 11.8% in August 2014 from 12.2% in July 2014.

Australia Investment Lending for Homes down to -0.1% in August from previous 6.8%

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