Home loan demand was lower than expected for the month of January, according to the Australian Bureau of Statistics. Economists forecasted home commitments to increase by 0.5%. Instead, the values tumbled by 0.4% for the month. Despite these numbers, home loans are steady at a seasonally adjusted value of 51, 054.
Loan values for investments have also decreased by 3.3%, after rising by 40% in 2013. Surprisingly, first home buyer loans increased by 1.5% in the month after declining for the most part last year.
Read more about this on the Australian website.