Australia Home Loans Jump 10.7% In July

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The value of owner-occupied home loans in Australia climbed a seasonally adjusted 10.7 percent on month in July, the Australian Bureau of Statistics said on Wednesday – coming in at A$14.33 billion.

That follows the 5.5 percent gain in June.

Investment lending was up 3.5 percent in June to A$4.58 billion, slowing from 8.1 percent in the previous month.

On a yearly basis, owner-occupied home loans surged 18.5 percent, while investment lending slipped 5.1 percent.

Fixed term personal loans gained 6.9 percent on month and sank 3.9 percent on year.

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