Australian home loan demand is cooling fast
Photo by Spencer Platt/Getty Images Australian lending finance data for January has missed expectations with both the number and value of loans written falling heavily.
According to the ABS, the number of owner-occupier loans fell by 3.9% in seasonally adjusted terms, mirroring falls of 2.8% and 3.0% for construction and new home purchases.
Like the number of home loans written, the value of new lending also fell.
The value of owner-occupier lending slid 4.3% to $31.899 billion, outpacing a smaller drop of 1.6% to $11.356 billion for investors.
More to follow...
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