Australia New Housing Lending Falls 15.5% in Third Quarter
CBA economist Ashwin Clarke said the decline was driven by a pullback in investor lending. It was the largest quarterly fall since records began in late 2002.
The news from Australia's housing market continues to get worse, says Ashwin Clarke, an economist at CBA. The latest data shows the value of new housing lending declined by 15.5% in 3Q, driven by a pullback in investor lending. The quarterly fall was the largest since records began in late 2002. Th…