Australia Home Loans Slip 4.6% In January

(RTTNews) - The total value of owner-occupied home loans issued in Australia was down a seasonally adjusted 4.6 percent on month in January, the Australian Bureau of Statistics said on Thursday - coming in at A$15.91 billion.

Investment lending dipped 2.6 percent on month to A$9.21 billion, with overall lending down 3.9 percent at A$25.12 billion.

On a yearly basis, owner-occupied home loans rose 3.4 percent and investment lending jumped 18.5 percent for an increase of 8.5 percent in overall loans.

Loans for construction finance rose 5.8 percent on month after a rise of 3.3 percent in December, while loans for the purchase of property jumped 16.9 percent after a rise of 1.9 percent a month earlier.