A post by @FirstSquawk on X.
Australia Home Loans Value (Q/Q) Q3: -15.5% (est -8.0%; prev -5.2%)
@FirstSquawk on X
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Australia’s value of home loans fell 15.5% quarter-on-quarter in Q3, far exceeding expectations for an 8.0% decline and steepening from the prior quarter’s 5.2% drop. The sharper contraction signals a deeper cooling in housing credit demand than economists anticipated. The result matters because housing credit is a key transmission channel for interest-rate policy and a bellwether for household leverage and construction activity. Watch next for monthly lending and housing-finance data, along with RBA commentary, to gauge whether the pullback extends into Q4.
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