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AAP
AAP
Business
Derek Rose

Home lending plunged 6.4 pct in April

Felicity Emmett Australian Bureau of Statistics RBA

Home lending fell sharply in April as a hike in interest rates and two sets of public holidays deterred borrowers.

Borrowing for housing fell 6.4 per cent to $30.99 billion, the Australian Bureau of Statistics said on Friday. Economists had been expecting just a 0.3 per cent dip following a 1.6 per cent rise in March.

Borrowing for owner-occupiers was down 7.3 per cent to $19.91 billion, the largest fall since May 2020.

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