Australian housing finance rises 1.8pc in July

Thursday 9 September 2004

SYDNEY: Lending to Australian property buyers rose less than expected in July, reinforcing expectations the central bank will wait until late 2004 or early 2005 before increasing interest rates.

By The Landlord

Earlier, the Reserve Bank of Australia said it left rates steady at 5.25 per cent for a ninth month at a meeting on Tuesday.

The volume of housing finance excluding investors rose 1.8 per cent in July, only the second rise in 10 months, the Australian Bureau of Statistics reported. The figures are seasonally adjusted.

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