November Australia Housing Finance Loans came in at -0.5%:
- Prior was +0.1%
- Market expected +0.5%
Much worse than expected, a dreadful result.
- The total value of loans fell 0.8 percent to A$21.5 billion ($22.6 billion) in November.
The value of lending to owner-occupiers gained 0.6 percent.- The value of loans to investors who plan to rent or resell homes dropped 3.3 percent.
- First-home buyers accounted for 15.8 percent of dwellings that were financed in November, down from 18.7 percent in October and lower than 20.2 percent a year earlier.
Australian Nov. Home-Loan Approvals Show First Drop Since July
