The total value of owner-occupied home loans in Australia was down a seasonally adjusted 9.3 percent on month in September, the Australian Bureau of Statistics said on Wednesday – standing at A$16.81 billion.
That was well shy of expectations for a decline of 2.6 percent following the 2.7 percent contraction in August.
Investment lending was down 6.0 percent on month at A$8.33 billion after slipping 4.8 percent in the previous month.
Overall loans dropped 8.2 percent on month to A$25.14 billion.
On a yearly basis, overall loans sank 18.5 percent, owner-occupied home loans dropped 19.9 percent and investment lending declined 15.3 percent.
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