The total number of new home loans in Australia issued in November climbed a seasonally adjusted 0.9 percent on month, the Australian Bureau said on Tuesday – standing at 54,603.
That beat forecasts for a flat reading following the 0.8 percent decline in October.
Loans for the purchase of established dwellings gained 0.6 percent to A$46.139 billion, while loans for the purchase of new dwellings jumped 3.3 percent to A$2.755 billion and loans for the construction of new dwellings gained 2.3 percent to A$5.710 billion.
The number of first home buyer commitments jumped 13.4 percent to 8,281 in November from 7,302 in October. The number of first home buyers as a percentage of total owner occupier commitments rose from 13.7 percent to 13.8 percent.
The value of loans was up 0.4 percent on month to A$19.930 billion after sliding 0.8 percent in the previous month.
Investment lending advanced 4.9 percent to A$13.269 billion after gaining 0.7 percent a month earlier.
The total value of dwelling finance commitments excluding alterations and additions gained 2.2 percent to A$33.199 billion.
Also on Tuesday, the ABS said that the total number of new motor vehicle sales in Australia was up a seasonally adjusted 0.3 percent on month in December, standing at 97,305.
That follows the 0.6 percent decline in November.
By category, sales for passenger vehicles shed 0.2 percent on month, while and Sports utility vehicles fell 1.0 percent and sales for other vehicles gained 0.3 percent.
By region, sales fell 1.4 percent on month in Western Australia and advanced 1.7 percent in the Australian Capital Territory.
On a yearly basis, new car sales were up 0.2 percent after slipping 1.1 percent in the previous month.
by RTT Staff Writer
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