Australian housing finance surges

FXstreet.com (Barcelona) - Following the recent improved Australian data, another positive outcome came from the September Housing Finance, which rose by +4.4% m/m vs expected +3.5%, with investment lending also up 5.2% m/m vs flat reading last month and owner-occupied loan value jumping by +5.3% m/m vs -1.9% m/m prior.

According to Eamonn Sheridan from Forexlive: "These are all seasonally adjusted figures; the bounce back in this data from the fall in August will be welcome news for the RBA looking for transition in the economy from mining investment to other sectors."

Meanwhile, Leith van Onselen from Macro Business Australia, said: "Overall, this is another strong release, albeit clouded somewhat by the ongoing weakness in FHB mortgage demand and the lack of growth in average loan size."