full article hereAustralia’s Loan Approvals Rise for First Time in Nine Months
By Jacob Greber
Dec. 10 (Bloomberg) -- Australian home-loan approvals increased in October for the first time in nine months after the central bank slashed borrowing costs to encourage property buyers back into the market.
The number of loans granted to build or buy homes and apartments rose 1.3 percent to 48,299 from September, when they slid a revised 2.4 percent, the statistics bureau said in Sydney today. The median estimate of 21 economists surveyed by Bloomberg News was for a 1 percent gain.
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The total value of lending rose 1.9 percent to A$17.4 billion in October, today’s report showed.
Lending to owner-occupiers advanced 2.4 percent, while the value of lending to investors who plan to rent or resell homes gained 0.7 percent.
http://www.bloomberg.com/apps/news?pid=20601081&sid=a_eEe1F7MZv4&refer=australia
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