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A report released Wednesday by the Australian Bureau of Statistics said housing finance for owner occupation - excluding alterations & additions - climbed a seasonally adjusted 6.7% month-on-month in September. Owner occupied housing commitments increased to A$17.60 billion from A$16.49 billion in the preceding month.
In September, personal finance fell 1.8% to A$7.02 billion, while commercial finance increased 8% to A$31.58 billion, and lease finance dropped 3.6% to A$381 million, all in seasonally adjusted terms.
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Hi,
3. Australia is heading a massive credit crisis of $50 billion AUD in commercial lending maturing in 2010. They won’t be able to tap the international markets as overseas Europe has $350 billion in commercial lending coming up for maturity and the US has mortgage resets of over $225 billion this credit crisis is far from over. Check out www.jpminvestmentgroup.com.au for more information.
JPM Investment Group
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