Australian Nov Housing Finance -5.6% Vs Oct; Consensus -2.3%

Australian Nov Housing Finance -5.6% Vs Oct; Consensus -2.3%

SYDNEY (Dow Jones)--The number of housing finance approvals in Australia fell a seasonally adjusted 5.6% in November from October, the Australian Bureau of Statistics said Tuesday.

Economists surveyed ahead of the announcement on average had expected a fall of 2.3% in November.

Australian housing finance approvals
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Period            Number          A$ Value
Nov 09            59,516          16.54 Bln
Oct 09            63,016          17.04 Bln
Nov 08            52,179          13.27 Bln
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(All data are seasonally adjusted.) 

The value of investment housing loans in November rose 2.1% from October.

The bureau said its trend estimate for the number of housing finance approvals, which further smoothes seasonally adjusted data, fell 1.1%.

In a breakdown of the data, the bureau said the number of finance approvals to build houses fell a seasonally adjusted 6.5% and the number of approvals to buy newly built houses fell 5.1%.

The number of approvals for the purchase of established houses decreased 5.4%.

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