Mortgage lending grows in Australia
June 11, 2010The number of loans for new home purchase issued in April has increased by 6.3%, compared to the preceding month.
The quantity of loans for housing construction has declined by 4.8%, according to a report by the Housing Industry Association (HIA).
Over the period from March to April, the total number of loans for various purposes in housing sector decreased by 1.8%. During February-April, the figure has plunged by 20.8%, year-on-year.
According to analysts, the yearly decline in housing crediting is primarily due to increased interest rates and tighter lending conditions. These measures were introduced by Australian authorities in order to slower the growth in housing prices.
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