New home loans fall by 5.6 per cent

The number of new home loans taken out in the month of November fell by 5.6 per cent, according to the Australian Bureau of Statistics.

The Australian Bureau of Statistics has released seasonally adjusted figures showing

59,516 new owner-occupied housing loans were taken out in November. This was 5.6 per cent drop from the previous month.

Economists had expected the number of owner-occupier housing finance commitments to have fallen by 0.5 per cent in November.

Total housing finance by value fell by 1.6 per cent in November, seasonally adjusted, to $22.822 billion.