The number of home loans approved in Australia edged up one percent to a seasonally adjusted 49,813 in July, up from 49,309 in June, according to the latest figures from the Australian Bureau of Statistics (ABS).
Meanwhile, the Australian Capital Territory (ACT) experienced a 0.3 percent below-average increase, bringing the number of new loans for owner-occupiers to 1012.
The value for loans in the ACT rose from A$287 million to A$297 million and from A$14.2 billion to A$14.4 billion nationally.
First-time home buyers stayed at 15.2 percent. The average loan in the ACT was A$296,500, slightly above the national average of A$293,400.
Australia’s deficit was reported at a seasonally adjusted A$7.419 billion in June.
Retail trade rose slightly, with a 6.7 percent spike in company profits in June.
The figures reinforce expectations that tomorrow’s national accounts will prove that the economy recovered in June, after performing at its worst in 20 years in the previous three months, due to the summer floods.
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