Australia's home loans up 0.9%

More home loans made across Australia.

According to data released by the Australian Bureau of Statistics, there were 46395 owner-occupied loans were approved in September, compared to 45,983 in August.

This amounts to a 0.9 percent rise.

Economists had expected housing finance commitments to rise 1.0 percent in September.

The total value of dwelling finance commitments excluding alterations and additions rose 3.8 percent, with investment housing commitments rising 8.6 percent.

Economists say the figures show home loan value is rising at a faster rate than the number of loans.

"That suggests that there's increased confidence by borrowers, or that home prices are edging a little higher," said Australian financial firm CommSec chief economist Craig James.

For more.

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